Salesforce launch of Pharma CRM to elevate debate on Veeva, says Morgan Stanley

After Salesforce (CRM) used its annual Dreamforce conference to showcase new products in Life Sciences that will compete against Veeva (VEEV), Morgan Stanley said Salesforce’s plans to launch a Pharma CRM will “elevate the debate on Veeva’s platform migration to Vault.” Salesforce’s interest in pushing deeper into Life Sciences and competing against Veeva in Pharma is “now clearer,” says the firm, which views Salesforce as having “more compelling AI capabilities to leverage” in an “area where Veeva will need to catch up.” The firm maintains an Underweight rating and $181 price target on Veeva, arguing that “downside risks outweigh visible upside drivers to the business.”