Veeva signs 62,223 SF office lease at The PENN District in Midtown Manhattan. September 1, 2026 NEW YORK CITY - Veeva has signed a 62,223-square-foot office lease at The PENN District, a two-building, 4.4 million-square-foot development in Midtown Manhattan. The provider of cloud software, AI, data and consulting services for the life sciences industry will occupy the entire 11th floor of PENN 2 on a 12-year lease. Jim Wenk and Kirill Azovtsev of Savills represented Veeva in the lease negotiations. The landlord, Vornado Realty Trust, was self-represented.

Veeva Systems announced Veeva Falcon Safety, an agentic safety operations product designed to streamline adverse event intake, case processing, and follow-up for biopharma companies. The solution will work with Veeva Safety and integrate with any E2B-compliant safety system, including Oracle Argus and ArisGlobal LifeSphere MultiVigilance. Falcon Safety aims to reduce costs, increase speed, and maintain compliance across safety operations. The product was developed through collaboration with case processors, pharmacovigilance experts, and safety specialists globally. The solution is planned for early adopter availability in November 2026. It forms part of Veeva AI, the company's industry-specific artificial intelligence solutions for life sciences. Veeva Systems currently serves more than 1,500 customers, ranging from major pharmaceutical companies to emerging biotechs.

Veeva Systems reported fiscal Q2 revenue of $928 million, up 18% year-over-year, with subscription revenue rising 16% to $766.8 million. GAAP operating income increased 40% to $275 million, pushing the operating margin to 29.6% from 24.8%. However, the prior-year quarter included a $30.6 million litigation charge. Adjusting for this makes the underlying margin expansion closer to one percentage point. The company now has over 180 customers live on Vault CRM, including five of the top 20 biopharma companies, with 12 top-20 firms committed globally. Veeva added more than 30 clinical customers and surpassed 100 Safety customers. Non-GAAP operating income rose 18% to $415.9 million, with margins edging up to 44.8% from 44.7%. GAAP operating cash flow remained flat at $238.7 million year-over-year.