Veeda Clinical Research Ltd

Business Model

Veeda Clinical Research Limited operates as a Contract Research Organization (CRO), providing end-to-end drug development services to pharmaceutical and biotechnology companies. Their business model revolves around offering a comprehensive portfolio of services across different phases of drug development, including:

• Pre-Clinical & Non-Clinical Research – Conducts early-stage research on drug candidates, including toxicology and pharmacokinetics studies.
• Clinical Trials (Phase I-IV) – Manages early to late-stage clinical trials for new drugs, including bioequivalence and pharmacodynamic studies.
• Healthy Volunteer Studies (HVS) – Conducts studies on healthy individuals to assess the safety and bioavailability of drugs.
• Bioanalytical & Data Management Services – Offers pharmacovigilance, clinical data management, and statistical analysis to ensure regulatory compliance.
• Regulatory Consulting & Compliance – Helps companies navigate approvals from global regulatory agencies like USFDA, EMA, ANVISA, CDSCO, and WHO.
• Real-World Evidence (RWE) & Digital Services – Provides data-driven insights for post-market surveillance and remote monitoring solutions.

Veeda generates revenue by charging clients on a project basis, depending on the complexity and duration of the clinical trials or research services.

Revenue Breakup

Veeda’s revenue is primarily generated from contracts with customers, split across different service segments and geographies.

Revenue by Service Type (FY2024)

• Clinical Trials: 34.05% (₹1,322.13 million)
• Healthy Volunteer Studies (HVS): 56.39% (₹2,189.60 million)
• Pre-Clinical Trials: 29.26% (₹1,135.91 million)
• Biopharma Services: 0.53% (₹20.60 million)

Revenue by Geography (FY2024)

• India: 31.55% (₹1,224.98 million)
• Outside India: 68.45% (₹2,657.65 million)

Breakdown of International Revenue (FY2024)

• USA: 16.07% (₹427.15 million)
• Europe: 46.27% (₹1,229.77 million)
• Rest of the World (RoW): 37.65% (₹1,000.73 million)

Presence & Number of Clinics

A. Global Presence

Veeda Clinical Research has a strong international footprint, operating in 8 countries with 558 clinical sites globally.

• Headquartered in Ahmedabad, India, with multiple research facilities across the country.
• Overseas subsidiaries in Ireland, Switzerland, and the USA, with expansion plans in other key pharmaceutical hubs.

Key Facilities & Clinics

Veeda operates a network of clinical research sites across multiple locations, including:

1. Ahmedabad, India – Major hub for Healthy Volunteer Studies (HVS) and bioequivalence trials.
2. Bangalore, India – Home to Bioneeds India Private Limited, specializing in toxicology and pre-clinical research.
3. Hyderabad, India – Focuses on early-phase clinical trials.
4. Ireland & Europe – Houses Veeda Clinical Research Ireland Limited, which oversees European operations.
5. USA & Canada – Operates through partnerships for clinical trials in North America.

Expansion & Future Strategy

Veeda plans to:
– Strengthen its Biopharma Services capabilities.
– Expand in Europe and emerging markets to reduce reliance on Indian operations.
– Invest in digital transformation & AI-driven clinical research.
– Increase strategic acquisitions (e.g., Bioneeds India acquisition in 2021).