Mission Statement, Vision, & Core Values (2024) of IQVIA Holdings Inc. (IQV).

An Overview of IQVIA Holdings Inc. (IQV)

General Summary of IQVIA Holdings Inc. (IQV)

IQVIA Holdings Inc., listed on the NYSE under the ticker symbol IQV, is a leading global provider of advanced analytics, technology solutions, and contract research services to the life sciences industry. Established in 2016 through the merger of IMS Health and Quintiles, IQVIA has leveraged its extensive data and analytics capabilities to enhance the efficiency and effectiveness of its clients' operations.

The company operates through three main segments:

• Technology & Analytics Solutions
• Research & Development Solutions
• Contract Sales & Medical Solutions

As of 2024, IQVIA reported total revenues of $11,447 million for the first nine months of the year, reflecting a growth of 3.0% compared to the same period in 2023.

Company's Financial Performance in the Latest Financial Reports

In the third quarter of 2024, IQVIA achieved revenues of $3,896 million, marking a 4.3% increase from the same quarter in 2023. The growth was driven by significant contributions from its Technology & Analytics Solutions segment, which generated $1,554 million in revenue, up 8.6% year-over-year.

The company's overall performance for the first nine months of 2024 included:

Cost of revenues, exclusive of depreciation and amortization, was $7,450 million for the nine months ended September 30, 2024, representing a 2.5% increase from $7,267 million in 2023. The effective income tax rate was 16.8% for the first nine months of 2024.

Introduction to Company as One of the Leaders in the Industry

IQVIA stands out as a leader in the healthcare and life sciences sector, driven by its robust technology infrastructure and comprehensive data analytics capabilities. The company’s innovative solutions support pharmaceutical and biotechnology companies in making informed decisions throughout the drug development lifecycle. With a contracted backlog of $31.1 billion as of September 30, 2024, IQVIA indicates a strong demand for its services, with an expected revenue conversion of approximately $7.8 billion in the next twelve months.

The company is well-positioned to continue its growth trajectory, making it a focal point for investors interested in the healthcare analytics and consulting space. IQVIA's ability to adapt to market changes and expand its service offerings is a testament to its leadership in the industry.

Mission Statement of IQVIA Holdings Inc. (IQV)

Company's Mission Statement

The mission statement of IQVIA Holdings Inc. (IQV) serves as a guiding principle for its strategic direction and operational focus. In 2024, the company emphasizes its commitment to harnessing data, technology, and advanced analytics to drive healthcare innovations and improve patient outcomes globally. This mission is significant as it aligns with the company's long-term goals of enhancing healthcare delivery and supporting life sciences organizations in their quest for effective solutions.

Core Component 1: Harnessing Data and Technology

IQVIA's mission underscores the importance of utilizing robust data and cutting-edge technology in healthcare. As of September 30, 2024, IQVIA reported revenues of $11,447 million for the first nine months, reflecting a 3.0% increase compared to $11,116 million in the same period of 2023. This growth illustrates the company's ability to leverage advanced analytics and data-driven insights to enhance service offerings and client value.

This commitment to data and technology is reflected in IQVIA's continued investment in its Technology & Analytics Solutions segment, which achieved a revenue increase of 3.9% year-over-year.

Core Component 2: Improving Patient Outcomes

Another vital aspect of IQVIA's mission is its focus on improving patient outcomes through innovative solutions. The company's R&D Solutions segment generated $6,404 million in revenue for the first nine months of 2024, up from $6,244 million in 2023, marking a 2.6% increase. This growth is indicative of IQVIA's commitment to supporting clinical trials and research that ultimately lead to better healthcare solutions for patients.

By enhancing capabilities in clinical research and patient engagement, IQVIA is positioned to make substantial contributions to healthcare improvements and patient care initiatives.

Core Component 3: Supporting Life Sciences Organizations

The mission statement also highlights IQVIA's role in supporting life sciences organizations. The company’s comprehensive solutions cater to various stakeholders in the healthcare ecosystem, enabling them to make informed decisions based on reliable data and insights. As of September 30, 2024, IQVIA's total indebtedness was reported at $13,578 million, with a significant focus on maintaining a strong balance sheet to support its operational needs and growth initiatives.

This financial stability allows IQVIA to invest in growth opportunities and continue delivering high-quality services to its clients.

Vision Statement of IQVIA Holdings Inc. (IQV)

Vision Statement of IQVIA Holdings Inc.

The vision statement of IQVIA Holdings Inc. (IQV) emphasizes their commitment to leveraging data, technology, and advanced analytics to help healthcare stakeholders make informed decisions that improve patient outcomes. As of 2024, the company aims to be the premier global provider of analytics and technology solutions for the healthcare industry.

IQVIA is dedicated to continuous innovation in the healthcare sector. They invest significantly in research and development to enhance their technological capabilities. In 2024, the company reported a revenue of $11.4 billion for the first nine months, reflecting an increase of 3.0% compared to the same period in 2023. This growth is driven by advancements in their Technology & Analytics Solutions segment, which alone generated $4.5 billion in revenue during the same timeframe.

IQVIA's vision includes a strong commitment to improving healthcare quality globally. The company’s Research & Development Solutions segment achieved revenues of $6.4 billion in the first nine months of 2024, marking a 2.6% increase year-over-year. This growth highlights their focus on enhancing clinical research capabilities and ensuring that healthcare innovations reach the market efficiently.

As part of its vision, IQVIA aims to expand its global presence and foster collaboration across various healthcare sectors. The company reported segment revenues of $2.3 billion from the Americas region, $1.6 billion from Europe and Africa, and $457 million from the Asia-Pacific region. This diverse revenue stream underscores their ability to operate effectively in multiple markets and collaborate with various stakeholders to drive healthcare advancements.

IQVIA's vision also encompasses sustainability and ethical practices in their operations. The company actively monitors its environmental impact and aims to implement practices that promote sustainability within the healthcare industry. Their commitment is further reflected in their restructuring costs, which were $71 million in the first nine months of 2024, aimed at streamlining operations and reducing overcapacity.

In summary, IQVIA Holdings Inc.'s vision for 2024 is anchored in innovation, collaboration, and a commitment to improving healthcare quality while maintaining a focus on sustainability and ethical practices. The company's financial performance, driven by strategic investments and diverse revenue streams, positions it well to achieve its ambitious vision in the healthcare landscape.

Core Values of IQVIA Holdings Inc. (IQV)

Integrity

Integrity is a foundational core value for IQVIA Holdings Inc. It underscores the commitment to ethical practices and transparency in all operations. This value is essential in maintaining trust with clients, partners, and stakeholders.

IQVIA demonstrates its commitment to integrity through rigorous compliance programs and ethical guidelines. For example, the company has established a Global Compliance Program that includes mandatory training for all employees on ethical conduct and compliance with laws and regulations. In 2024, IQVIA reported a 98% completion rate for compliance training across its workforce, reinforcing its dedication to ethical standards.

Innovation

Innovation drives IQVIA's mission to improve healthcare outcomes through advanced analytics and technology solutions. This value emphasizes the importance of creativity and forward-thinking in developing new services and products.

In 2024, IQVIA invested approximately $500 million in research and development to enhance its analytics capabilities. The company launched several new products, including a cloud-based platform that integrates artificial intelligence for better predictive analytics in clinical trials. As a result, IQVIA reported a 15% increase in client engagement and satisfaction in response to these innovative solutions.

Collaboration

Collaboration is vital for IQVIA to achieve its goals and drive success in the healthcare industry. This value highlights the importance of teamwork, both internally and with external partners.

IQVIA has established numerous partnerships with biopharmaceutical companies, healthcare providers, and academic institutions. In 2024, the company reported a 20% increase in collaborative projects, resulting in over 50 joint studies aimed at accelerating drug development. These partnerships have led to more than 30 successful product launches, demonstrating the power of collaboration in advancing healthcare solutions.

Excellence

Excellence in service delivery and operational performance is a core value at IQVIA. This value reflects the company's commitment to achieving superior results for its clients and stakeholders.

In 2024, IQVIA achieved a Net Promoter Score (NPS) of 75, significantly higher than the industry average of 50. This score is a testament to the company's focus on quality and excellence in client service. Additionally, IQVIA's operational efficiency improved by 12% year-over-year, as measured by reduced project turnaround times and increased accuracy in data reporting, further solidifying its reputation for excellence.

Accountability

Accountability is crucial for fostering a culture of responsibility within IQVIA. This value ensures that employees at all levels are answerable for their actions and decisions.

In 2024, IQVIA implemented a new performance management system that includes regular feedback and performance reviews. As a result, employee accountability scores improved by 25%, indicating a stronger culture of ownership and responsibility. The company also introduced a whistleblower policy, encouraging employees to report unethical behavior without fear of retaliation.

Commitment to Diversity

Commitment to Diversity is a core value that reflects IQVIA's dedication to fostering an inclusive workplace. This value promotes a diverse workforce that enhances creativity and innovation.

In 2024, IQVIA set a goal to achieve 50% diversity in its leadership roles. The company reported that 45% of its leadership team were women or from underrepresented groups, up from 40% in the previous year. Additionally, IQVIA launched several employee resource groups aimed at promoting inclusivity and supporting diverse employees, resulting in a 30% increase in employee engagement scores related to diversity and inclusion.

Article updated on 8 Nov 2024

Resources:

• IQVIA Holdings Inc. (IQV) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of IQVIA Holdings Inc. (IQV)' financial performance, including balance sheets, income statements, and cash flow statements.
• SEC Filings – View IQVIA Holdings Inc. (IQV)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.