This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Cognizant Recognized As A Leader In Life Science Drug Safety Services In IDC MarketScape

TEANECK, N.J., Feb. 13, 2013 /PRNewswire/ --  Cognizant (NASDAQ: CTSH) today announced that it has been positioned as a Leader in the IDC Health Insights "IDC MarketScape: Worldwide Life Science Drug Safety Services 2013 Vendor Assessment" (document number HI239221, dated February 2013).

The IDC MarketScape report evaluated leading drug safety services (DSS) providers in the life science industry. The evaluation was based on a comprehensive framework, and assessed services providers across key characteristics, including functionality or offering road map, delivery model, cost management strategy, portfolio strategy, customer base, go-to-market capabilities, customer references, pricing model, sales/distribution strategy, customer service strategy, marketing strategy, growth strategy, financial and funding model, employee strategy, and innovation/R&D pace and productivity.

"While possessing demonstrated experience across the complete life science value chain, Cognizant is strongest in its BPO and IT service offerings to the industry," said the report. "Cognizant's life science drug safety services team is the largest in the industry, a result of the company's success in delivering higher-value drug safety services to its clients. This, combined with Cognizant's strong investment-supporting growth and significant commitment to development of industry-centric intellectual property, ensures that the company can be expected to remain a leader in the field for years to come," the report added.

"We are proud of this ranking because it validates our vision of helping life sciences improve patient health by running better through cost and operational agility and running different by innovatively addressing drug safety problems and issues," said Gajen Kandiah, Senior Vice President and Practice Leader for Business Process Services at Cognizant. "This recognition shows again that our business process solutions, technologies, and talent are well positioned to deliver exceptional value in line with core industry business requirements."

"Keeping patients safe is a cornerstone of the healthcare industry, and we are pleased that our capabilities have been recognized by IDC Health Insights," said Krish Venkat, Executive Vice President of Cognizant's Healthcare and Life Sciences practice. "Our customers are seeking new ideas on how to improve health by better use of technology, analytical insights, and best-in-class industry practices. This era of change and innovation in the life sciences industry is tremendously exciting for all of us, and we are thrilled at the opportunity to help our clients help their patients to be well."

"As outsourcing of the life science industry grows, the vendor ecosystem is stepping up to deliver cost savings, agility, and operational excellence in areas once considered to be core to top companies," said Alan S. Louie, Research Director, Clinical Development Strategy and Technology at IDC Health Insights. "Demonstrated delivery experience, deep understanding of drug safety processes and platforms, and deep strategic drug safety expertise are all paths to vendor success, helping many life science services organizations to achieve sustainable growth that should continue for years to come."

About IDC MarketScapeIDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

About Cognizant's Business Process Services PracticeCognizant's Business Process Services (BPS) practice provides industry-aligned solutions that leverage Cognizant's deep industry knowledge, robust technology capabilities, enterprise analytics offerings, and global consulting expertise. It offers transformational end-to-end services to support innovation, growth, and operational efficiencies to provide tangible business value. The BPS practice focuses on industries including financial services, insurance, healthcare, and life sciences to deliver effective BPO and platform-based process solutions. It helps improve business agility by integrating state-of-the-art process and technology with industry-specific solutions and back-office work such as finance and accounting.

About CognizantCognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process outsourcing services, dedicated to helping the world's leading companies build stronger businesses. Headquartered in Teaneck, New Jersey (U.S.), Cognizant combines a passion for client satisfaction, technology innovation, deep industry and business process expertise, and a global, collaborative workforce that embodies the future of work. With over 50 delivery centers worldwide and approximately 156,700 employees as of December 31, 2012, Cognizant is a member of the NASDAQ-100, the S&P 500, the Forbes Global 2000, and the Fortune 500 and is ranked among the top performing and fastest growing companies in the world. Visit us online at www.cognizant.com or follow us on Twitter: Cognizant.  

Forward-Looking Statements This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

SOURCE Cognizant

Stock quotes in this article: CTSH 
Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,409.34 -15.51 -0.09%
S&P 500 1,862.47 +0.16 0.01%
NASDAQ 4,097.4530 +11.2280 0.27%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs