Veeva Systems acquired Copli, an artificial intelligence firm specializing in medical, legal, and regulatory (MLR) solutions for life sciences. The companies did not disclose the financial terms of the transaction. This acquisition expands Veeva's investment in AI-driven business process automation.
Veeva launched Veeva Falcon MLR to integrate Copli’s technology into its existing platform. The tool automates the review of promotional and medical materials. Veeva claims the tool could reduce manual MLR labor by 70% or more. The company expects to reach this efficiency milestone within five years.
Veeva Systems shares rose 2.8% in premarket trading.