IQVIA Holdings provides clinical research and data analytics services to pharmaceutical and biotechnology companies, running clinical trials on behalf of drug developers and supplying healthcare data used to inform drug development and commercialization decisions. As a contract research organization, IQVIA takes on much of the complex logistical work of running clinical trials, recruiting patients, managing trial sites and ensuring regulatory compliance, work that drug companies increasingly outsource rather than manage entirely in-house. The company also maintains vast databases of prescription, medical claims and healthcare data that pharmaceutical companies use to understand treatment patterns, target their sales efforts and support regulatory submissions. IQVIA's revenue is tied to overall pharmaceutical industry research and development spending, along with the volume and complexity of clinical trials being conducted across the drug development industry at any given time.