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Item 1. Business

2025-02-13 compared with 2024-02-15 · 133 added, 116 removed, 278 unchanged (47% of the section changed)

IQVIA is a leading global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry.

IQVIA creates intelligent connections across all aspects of healthcare through its analytics, transformative technology, big data resources, extensive domain expertise and network of partners.

IQVIA Connected Intelligence delivers actionable insights and powerful solutions with speed and agility — enabling customers to accelerate the clinical development and commercialization of innovative medical treatments that improve healthcare outcomes for patients.

With approximately 87,000 employees, we conduct operations in more than 100 countries.

IQVIA is a leading global provider of clinical research services, commercial insights and healthcare intelligence to the life sciences and healthcare industries.

IQVIA’s portfolio of solutions are powered by IQVIA Connected Intelligence™ to deliver actionable insights and services built on high-quality health data, Healthcare-grade AI™, advanced analytics, the latest technologies and extensive domain expertise.

We are committed to using artificial intelligence ("AI") responsibly, ensuring that our AI-powered capabilities are grounded in privacy, regulatory compliance, and patient safety.

With approximately 88,000 employees in over 100 countries, including experts in healthcare, life sciences, data science, technology and operational excellence, we are dedicated to accelerating the development and commercialization of innovative medical treatments to help improve patient outcomes and population health worldwide.

We are a global leader in protecting individual patient privacy.

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Our scaled and growing information set contains approximately 64 petabytes of unique proprietary data sourced from approximately 150,000 data suppliers and covering over one million data feeds globally.

Based on this data, we deliver information and insights on over 90% of the world’s pharmaceuticals, as measured by 2022 sales.

Based on this data, we deliver information and insights on approximately 90% of the world’s pharmaceuticals, as measured by 2023 sales.

We standardize, curate, structure and integrate this information by applying our sophisticated analytics and leveraging our global technology infrastructure.

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Our Market Opportunity

We compete in a market of greater than $330 billion consisting of outsourced research and development, real-world evidence and connected health and technology enabled clinical and commercial operations markets for life sciences companies and the broader healthcare industry.

We compete in a market of approximately $330 billion consisting of outsourced research and development, real-world evidence and connected health and technology enabled clinical and commercial operations markets for life sciences companies and the broader healthcare industry.

The following sets forth our estimates for the size of our principal markets:

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In order to derive valuable insights from existing and expanding sources of information, clients need access to statistically significant data sets organized into databases that can be queried and analyzed.

For example, real-world evidence studies demonstrate practical and clinical efficacies, which we believe require the aggregation and integration of large clinical data sets across all care settings, types of therapies and patient cohorts.

For example, real-world evidence studies demonstrate practical and clinical effectiveness, which can require the aggregation and integration of large clinical data sets across multiple care settings, types of therapies and patient cohorts.

Longitudinal studies require analysis of non-identified patient diagnoses, treatments, procedures and laboratory test results to identify types of patients that will likely best respond to particular therapies.

Finally, manufacturers also require the ability to analyze social media activity to identify unmet patient needs and support for new orphan drugs.

Finally, manufacturers also can require the ability to analyze social media activity to identify unmet patient needs and support for new orphan drugs.

This information is highly relevant to all healthcare stakeholders and we believe the opportunity to more broadly apply healthcare data can only be realized through structuring, organizing and integrating new and existing forms of data in conjunction with sophisticated analytics.

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As a result, physicians no longer make prescribing decisions in isolation, but rather in the context of guidance and rules from payers, integrated delivery networks and governments.

We believe life sciences companies are working to bring alignment across constituents on the value of their treatments in order to successfully develop and commercialize new therapies.

We believe life sciences companies are working to bring alignment across constituents on the value of their treatments in order to successfully develop and commercialize new therapies and improve lives of patients.

There is increasing pressure on life sciences companies to support and justify the value of their therapies.

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We believe we are well positioned to take advantage of these global trends in healthcare.

Beyond our proprietary information assets, we have developed key capabilities to assess opportunities to develop and commercialize therapies, support and defend the value of medicines and help our clients operate more efficiently through the application of insight-driven decision-making and cost-efficient technology solutions.

Beyond our proprietary information assets, we have developed key capabilities to assess opportunities to develop and commercialize therapies, support and defend the value of medicines and help our clients operate more efficiently through the application of our clinical, scientific and operational knowledge as well as our insight-driven decision-making and cost-efficient technology solutions.

Our Growth Strategy

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By connecting this intelligence, we have the ability to optimize the clinical trial process and enable our clients to reduce costs and get their products to market more quickly through more informed site selection, faster patient recruitment practices and decentralized trials.

We transform Real World Evidence by linking prospective and retrospective approaches and introduce innovation such as secondary control arms, which eliminate the need for a placebo group.

We transform Real World Evidence by linking prospective and retrospective approaches and introduce innovation such as secondary control arms, which can eliminate the need for a placebo group.

We bring best in class Software as a Service ("SaaS") platforms, purpose built for life sciences, to our clients to help them run their clinical and commercial operations more efficiently.

Build upon our extensive client relationships and leverage our global presence .

We have a diversified base of over 10,000 clients in over 100 countries and have expanded our client value proposition to address a broader market for research and development and commercial operations which we estimate to be more than $330 billion in 2023.

Through the combined offerings of research and development and commercial services we built a platform that allows us to be a more complete partner to our clients.

Expand the penetration of our offerings to the broader healthcare marketplace.

We believe that substantial opportunities exist to use our existing technology and domain expertise to serve additional healthcare stakeholders (payers, providers, healthcare professionals) to quantify and optimize cost of care delivery;

provide registry technology to professional association and patient communities and support healthcare providers with system implementation and platform migration.

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We provide access to deep clinical data in Oncology, Rare Disease, and other specialty areas.

Our Natural Language Processing capabilities help us create structured data from unstructured clinical notes.

Our Natural Language Processing capabilities help us create structured data from unstructured clinical notes and the published literature, and provide accredited independent medical educational content.

We help our global customers across payers, providers, governments, and biopharmaceutical companies to answer critical questions about healthcare interventions related to safety, effectiveness, and value.

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Our patient engagement services combine insight from clinical trials and social listening, behavioral design, personal and innovative eHealth multichannel interactions across multiple sites (e.g., the physician’s office, hospital, pharmacy, home), that act as an extension of the Health Care Provider prescribed treatment course which can lead to improved adherence and better overall outcomes.

Medical Affairs Services.

We provide a range of scientific strategy and medical affairs services to help biopharmaceutical companies plan and transition from the clinical trial setting to commercialization.

Medical Services.

We provide a range of medical services and scientific strategy to help biopharmaceutical companies plan and transition from the clinical trial setting to commercialization.

Beginning in the clinical trial stage, our services can deploy educators to clinical trial sites to accelerate patient recruitment and improve retention, assist in translation of complex clinical trial data into a compelling scientific platform and publication strategy, and, provide field medical teams to facilitate scientific engagement with key opinion leaders and healthcare decision makers, before and after product approval.

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In addition to country-by-country competition, we have a number of regional and global competitors in the marketplace as well.

Our offerings compete with various firms, including Accenture, Aetion, Panalgo (a Norstella company), Cognizant Technology Solutions, Fortrea, Deloitte, Pharmaceutical Product Development, Inc.

(now part of Thermo Fisher Scientific Inc.), Relx, IBM, Infosys, Cerner (an Oracle company), McKinsey, NielsenIQ, Optum Insight, Parexel International Corporation, Press Ganey, RTI Health Solutions, ICON plc, Definitive Healthcare, Cegedim, Tempus, Merative, CompuGroup Medical, Medidata, Clarivate, Veeva, and ZS Associates.

Our offerings compete with various firms, including Accenture, Aetion, Panalgo (a Norstella company), Cognizant Technology Solutions, Deloitte, Pharmaceutical Product Development, Inc.

(part of Thermo Fisher Scientific Inc.), Relx, IBM, Infosys, Oracle Health, McKinsey, NielsenIQ, Optum Insight (part of UnitedHealth Group), Parexel International Corporation, Press Ganey, RTI Health Solutions, ICON plc, Definitive Healthcare, Cegedim, Tempus, Merative, CompuGroup Medical, Medidata (Part of Dassault Systèmes), Clarivate, Veeva, and ZS Associates.

We also compete with a broad range of new entrants and start-ups that are looking to bring new technologies and business models to healthcare information services and technology services.

The markets for Research & Development Solutions offerings are highly competitive, and we compete against traditional clinical research organizations (“CROs”), the in-house research and development departments of biopharmaceutical companies, universities, and teaching hospitals.

Among the traditional CROs, there are several-hundred small, limited-service providers, several medium-sized firms and only a few full-service companies with global capabilities.

Our primary competitors include ICON plc, Parexel International Corporation, Pharmaceutical Product Development, Inc., Syneos Health, and Fortrea, among others.

Among the traditional CROs, there are thousands of small, limited-service providers, several medium-sized firms and only a few full-service companies with global capabilities.

Some of our larger competitors include ICON plc, Parexel International Corporation, Pharmaceutical Product Development, Inc., and Syneos Health, among others.

Our Contract Sales & Medical Solutions business competes against the in-house sales and marketing departments of biopharmaceutical companies, other contract pharmaceutical sales and service organizations and consulting firms.

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Sustainability

We are committed to sustainable environmental, social and governance ("ESG") practices that further our corporate purpose of accelerating innovation for a healthier world.

We are committed to sustainable practices that further our corporate mission of accelerating innovation for a healthier world.

Our sustainable business practices are organized under three pillars — People, Public and Planet.

For further information on our ESG program, achievements, and goals, see our 2023 Environmental, Social, and Governance Report (the "2023 ESG Report"), which will be available on our website at https://www.iqvia.com/about-us/corporate-responsibility.

Information in the 2023 ESG Report is not incorporated by reference in, and does not form part of, this Annual Report on Form 10-K.

To facilitate the disclosure of comparable, consistent, and reliable ESG information, the 2023 ESG Report will be aligned with the Sustainability Accounting Standards Board ("SASB") and the Global Reporting Initiative ("GRI") reporting frameworks by including therein and reporting against their respective reporting standards indexes.

The 2023 ESG Report also discusses our climate-related risks and opportunities in accordance with the recommended disclosures of the Task Force on Climate-related Financial Disclosures ("TCFD").

For further information on our sustainability program and achievements, see our 2024 Sustainability Report (the "2024 Sustainability Report"), which will be available on our website at https://www.iqvia.com/about-us/sustainability.

Information in the 2024 Sustainability Report is not incorporated by reference in, and does not form part of, this Annual Report on Form 10-K.

To facilitate the disclosure of comparable, consistent, and reliable sustainability information, the 2024 Sustainability Report will be aligned with the Sustainability Accounting Standards Board ("SASB") and the Global Reporting Initiative ("GRI") reporting frameworks by including therein and reporting against their respective reporting standards indexes.

The 2024 Sustainability Report also discusses our risks and opportunities related to environmental events and natural disasters in accordance with the recommended disclosures of the Task Force on Climate-related Financial Disclosures ("TCFD").

Government Regulation

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Additional legislation or regulation of this type might, among other things, require us to implement additional security measures and processes or bring within the legislation or regulation de-identified health or other data, each of which may require substantial expenditures or limit our ability to offer some of our services.

In particular, personal health information is recognized in many countries such as the United States, the European Union, or EU, and several countries in Asia, as a special, sensitive category of personal information, subject to additional mandatory protections.

In particular, personal health information is recognized in many countries or regions such as the United States, the European Union (EU), Latin America, Asia and others, as a special, sensitive category of personal information, subject to additional mandatory protections.

Violations of data protection regulations are subject to administrative penalties, civil money penalties and criminal prosecution, including corporate fines and personal liability.

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The technology and other intellectual property rights owned and licensed by us are of importance to our business, although our management believes that our business, as a whole, is not dependent upon any one intellectual property or group of such properties.

Artificial Intelligence

Artificial Intelligence ("AI") presents opportunities for smarter healthcare.

It can enable the industry to better understand patient needs, identify new approaches to treatment, and scale and democratize access to medicine.

IQVIA has a rich history of developing Healthcare-grade AI™.

We have steadily expanded our capabilities over the years in connection with machine learning, natural language processing and generative AI as technology evolves.

For example, AI can be used to generate new insights and recommendations, helping to increase clinical trials efficiency at all stages from trial design to data submission.

We use AI to deliver tangible customer benefits and patient impact, while focusing on ethical application, responsible use and compliance with emerging regulation.

The expanded use of AI is generating clear benefits, but also concerns about data security, privacy and trust.

IQVIA is committed to implementing technology in a way that addresses these concerns.

Our new Center for Defensible Data and AI and our AI Governance Council support employee compliance with our guiding principles of Defensible AI, Trustworthy AI, and Responsible and Ethical AI.

This helps us to maintain high standards across the business and ensures we are well-placed to comply with emerging regulation such as the European Union’s Artificial Intelligence Act (the "EU AI Act") and the Colorado AI Act.

Given the sensitive and complex nature of health-related information, developing and implementing AI for healthcare requires additional safeguards, including privacy standards and regulatory compliance.

IQVIA Healthcare-grade AI™ is embedded across our AI-powered offerings, engineered to meet the level of precision, speed, and trust needed by the industry.

It combines IQVIA's expertise across life sciences, data science, information management, and technology with AI models trained on our extensive, high quality, and diverse health data.

Our ability to connect these powerful capabilities enables us to responsibly advance AI in healthcare and accelerate the delivery of solutions to improve patients’ lives.

IQVIA employs a wide variety of policies, procedures, guidelines, training, communications, tools and other resources to support the responsible use of AI technologies, including generative AI, to use AI responsibly and comply with legislation such as the EU AI Act, including:

• For higher risk AI activities, we have established procedures and methodologies to evaluate or test input, AI models, output and other aspects of AI use for error, bias, hallucinations and results that are not otherwise fit for the intended purpose.

• For lower risk activities, a variety of policies, standard operating procedures, guidance and training support our employees in the use of AI models — for example, the use of AI assistants to improve employee communications, and ensuring we have the necessary rights to use any non-IQVIA content with AI tools.

• We have established private instances of certain public large language models.

This ensures proprietary IQVIA content is not used to train public models and that the output and AI models derived from the use of proprietary content remains subject to IQVIA requirements and guidelines.

• Robust AI policies and practices must be built on a solid foundation of good information governance policies and practices relating to data privacy, information security, intellectual property management, contract compliance, vendor management and related domains.

IQVIA has extensive policies and practices addressing these topics, and substantial resources and experience in each of these domains.

• Good AI policies and practices also depend upon strong supporting policies, practices and experience relating to the design, development, testing, implementation, management and support of technology.

IQVIA has extensive policies and practices addressing these topics, and substantial resources and experience relating to the responsible use of technology.

• IQVIA employs an information security framework based on National Institute of Standards and Technology ("NIST"), Health Information Trust Alliance ("HITRUST") and other common standards to define the minimum security controls and safeguards that are appropriate for each type of content.

Human Capital

Our approximately 87,000 employees help us drive our business success and achieve our ambition to advance human health.

We are a diverse global team that shares a passion for collaboration and solving complex problems.

Our workforce is comprised of a wide variety of professionals, including clinicians, data scientists, epidemiologists and more.

Our culture is one in which employees are encouraged to apply their insight, curiosity, and intellectual courage across everything they do.

The way we manage our people and the programs we offer our employees reflect our commitment to fostering this culture of empowerment and engagement.

Each one of our employees provides value, no matter where they sit within the organization.

We are committed to creating an environment where all employees are respected and heard, where talented people from all backgrounds can contribute to and share in our growth, and where opportunity is available to everyone.

Attracting, developing, and retaining a talented workforce is essential to the success of our business and the realization of our purpose.

Investments in our people are motivated by our desire to have an engaged and connected workforce.

This results in high productivity and better results for IQVIA.

In an industry as competitive as ours, we also recognize that employees who feel supported contribute to higher retention and recruitment rates.

Our approximately 88,000 employees drive our vision to power smarter healthcare for everyone, everywhere.

They are comprised of specialists across multiple disciplines, including medical and life sciences, engineering, technology, data science and more.

Investments in our people are aimed at attracting, developing, and retaining a talented workforce.

These efforts not only engage our people but also result in strong productivity and superior outcomes for our clients.

We unite our global workforce through our Employee Value Proposition (EVP), which consists of four values that make up our identity – passion, collaboration, innovation, and growth.

The nature of our business attracts IQVIANs who thrive by innovating and growing together while they do meaningful work that helps people lead healthier lives.

We offer curated upskilling pathways and project opportunities across our businesses, empowering employees to build the skills for tomorrow while following their passions.

We encourage IQVIANs to pursue multiple careers here, including unconventional career paths that bring new ways of thinking.

This commitment fosters their professional development and, in an industry as competitive as ours, contributes to our favorable attrition and internal movement.

Board Oversight of Human Capital Management.

Our Board of Directors (our "Board") receives periodic updates on key human capital metrics, including recruitment and attrition rates, talent development data, and diversity statistics related to hiring, promotion and our overall workforce.

Our Board of Directors (our "Board") receives periodic updates on key human capital metrics, including recruitment and attrition rates, talent development data, and statistics related to our overall workforce.

Our Board also devotes significant time to leadership development and succession planning at the executive level and provides guidance on important decisions in each of these areas.

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Human Capital Management Strategy.

Our employees are critical to our continued success and are a core element of our long-term strategy.

Senior management is responsible for ensuring that our initiatives, policies, and processes reflect and reinforce our desired corporate culture, which we believe supports successful human capital management.

Our employees are essential to our continued success and are a core element of our long-term strategy, especially as demand for critical skills continues to grow.

Senior management is responsible for ensuring that our initiatives, policies, and processes reflect and reinforce our desired corporate culture, which we believe supports the development of the people and skills we will need tomorrow.

Our human capital management strategy is built on three fundamental focus areas:

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• Development & Progression.

We are committed to having a diverse pipeline of talent moving up in our organization and providing opportunities for all employees to develop within their current role as well as towards their next role.

We do this by encouraging mentoring and establishing support networks as well as by providing programs and tools to help employees achieve their career goals.

• Retention .

We seek to develop a working environment where employees feel supported and want to stay.

To increase employee engagement and retention, we consistently seek input from employees through surveys and focus groups and develop meaningful initiatives and programs to respond to their feedback.

We are committed to having a broad pipeline of talent moving through our organization and providing opportunities for all employees to develop within their current role as well as towards their next role.

We do this by promoting our One IQVIA, Multiple Careers approach, which helps employees build their skills using our curated learning content and uses technology to match employees to open roles and projects.

We seek to develop a working environment where employees feel engaged and supported, wanting to stay and grow with us.

Our retention efforts focus on areas that are important to our employees, including community, career, health & well-being, and financial rewards.

Employee Engagement.

In 2023, we completed two Company-wide employee surveys.

The surveys provided a valuable opportunity to hear the perspectives of our workforce around the world.

Maintaining regular and open channels of dialogue with employees and receiving and responding to their feedback with actionable and meaningful initiatives is critical to our human capital management strategy.

We received an average of 71,000 responses across our surveys in 2023, with an average participant rate of approximately 84%.

Across our surveys, on average 80% of respondents say they feel engaged.

The employee engagement index has been stable across our surveys in 2023.

Three items saw significant improvement in 2023 as compared to 2022:

The number of employees indicating they can see a clear link between their work and IQVIA's vision to drive healthcare forward increased 5 points in 2023 to 87% compared with the prior year, the number of employees indicating their manager supports their efforts to balance their work and personal life increased 2 points in 2023 to 86% compared with the prior year, and the number of employees indicating they are energized by their work increased 2 points in 2023 to 71% compared with the prior year.

Diversity and Inclusion.

Our commitment to diversity and inclusion ("D&I") is reflected in the various policies, programs, training and support we offer, including our Employee Resource Groups ("ERGs"), manager diversity and inclusion training and our highly diverse global workforce.

This is a foundation of our approach to human capital.

Our bi-annual companywide surveys provide a valuable opportunity to hear the perspectives of our workforce around the world.

We heard from 71,000 employees on average across our two surveys in 2024, equivalent to an average 84% response rate.

The employee engagement index has been stable across our surveys in 2024 with 79% of our employees who responded saying they feel engaged.

89% of employees who responded feel they are acquiring the knowledge and skills necessary to be effective in their roles, 7 points above the Fortune 500 Benchmark, with 9,700 employees participating in IQVIA’s Generative AI Masterclass Series.

83% of employees who responded see a clear link between their work and IQVIA’s vision, 2 points above the Fortune 500 Benchmark.

70% of employees who responded believe IQVIA encourages an environment where they can challenge the status quo, surpassing the Fortune 500 Benchmark by 3 points.

Building Community.

The scale and geographic reach of our business is a key asset that we leverage as we focus on building a connected community that celebrates both individual and cultural differences.

This is a foundation of our approach to human capital management.

We create this culture for employees regardless of gender, race, color, creed, religion, marital status, age, national origin or ancestry, physical or mental disability, medical condition, veteran status, citizenship, sexual orientation, gender identity or any other protected group status.

Our global workforce operates in over 100 countries and represents approximately 90 different ethnicities.

In the United States, approximately 61% of our employees identify as white and approximately 39% identify as a minority, including 12% who identify as Black or African American.

Approximately 62% of our employees globally identify as female and approximately 53% of employees worldwide at a manager level identify as female.

Our growing network of ERGs provides a framework for employees to connect and collaborate with colleagues with similar interests.

These groups support our values and business goals and foster the diverse thinking required for innovation.

They provide a forum for the exchange of ideas and opportunities for mentoring and professional development.

In the United States, approximately 39% identify as a minority, including 16% who identify as Asian, 12% who identify as Black or African American, 8% who identify as Hispanic or Latino and 3% who identify as a different minority.

Our growing network of Employee Resource Groups ("ERGs") provides a framework for employees to connect and collaborate with colleagues with similar interests.

These groups support our values and business goals and foster the multifaceted thinking required for innovation, providing a forum for the exchange of ideas and opportunities for mentoring and professional development.

These groups also organize activities to engage and educate our wider employee community on different perspectives and experiences.

There are eight global ERGs and all are employee-led, voluntary, and open to every employee.

Each ERG has a mission that is aligned to our vision, values, and core operating principles.

• Black Leadership Network (BLN) aims to maintain an inclusive community that supports professional development, knowledge sharing, collaboration, and business success for Black employees.

• Disabilities and Carers Network (DCN) builds awareness and appreciation around the accomplishments and challenges of the disabled community, to foster inclusion, engagement, and professional development.

• Emerging Professionals Network (EPN) builds community among leaders and emerging professionals through networking, personal development and volunteerism.

• Multi-Faith Network (MFN) fosters a culture of openness and diversity and provides a place where IQVIA employees can connect with people of different faiths or for mutual support.

• LGBTQIA+ Group (PRIDE) supports the ability for all people at IQVIA to be their authentic selves by fostering an inclusive, equal, and inspiring culture for LGBTQIA+ employees.

• Race, Ethnicity and Cultural Heritage Group (REACH) aims to create a supportive and collaborative community for IQVIA employees who represent racial, ethnic and cultural minorities across the globe.

• Veterans Employee Resource Group (VERG) connects active duty and transitioning service members and veterans at IQVIA while advocating for and supporting active duty and veteran causes that align with IQVIA's core values.

• Women Inspired Network (WIN) fosters a corporate culture that inspires women to excel in their careers at IQVIA and within the biopharma industry.

In 2023, we grew our ERG membership to more than 11,700 participants worldwide, an increase in membership of over 100% from the past year, which spans 73 countries across the globe.

Employee Well-being.

Investing in resources and incentives to promote the personal well-being of our employees and their families is an important way we take care of our people.

We provide a variety of health and welfare benefit plans that are available to employees and their family members, based on their location and specific country regulations.

In 2024, we grew our ERG membership to 13,000 participants spanning 69 countries across the globe.

Our second 2024 Employee Pulse Survey included a focus on belonging to enable us to understand employee needs in this area and align our approach to help employees do their best work.

According to respondents, the most important elements of belonging include opportunities to learn and grow;

working in a supportive team environment;

and being involved in meaningful work.

The most-selected actions that foster employees’ sense of belonging were regular manager feedback, formal and informal recognition for their contributions, and learning/development activities.

These insights are being incorporated into our plans to further reinforce our strengths and drive meaningful updates.

Employee Health & Well-being.

Investing in resources and incentives to promote the personal well-being of our employees and their families is an important way we support our people.

We provide a variety of market-competitive health and welfare benefit plans that are available to employees and their family members, based on their location and specific country regulations.

Plans may include medical, dental, and vision coverage;

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matching gift programs;

and locally relevant savings and retirement plans such as pensions and 401(k) plans.

and locally relevant savings and retirement plans such as pensions.

We provide parental leave for all full-time employees for the birth or adoption of a child, with variability in leave time dependent on location.

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Beyond health and welfare benefits, many regions also offer employee well-being programs.

In the United States, our “Healthy You” wellness program offers employees a range of wellness benefits, including free flu shots, teledoc services, nutrition counseling, tobacco cessation support and reimbursement for wellness-related expenses.

Our Employee Assistance Program ("EAP") is available to 100% of our workforce worldwide.

Our EAP offers counseling services, alongside accessible training and webinars focused on a variety of topics including financial planning, nutrition, social connections, stress management, time management and work-life balance.

We aim to create a work culture that provides flexibility, autonomy, and recognition, and supports personal and organizational growth.

Compensation and Benefits.

“Healthy You” is our global program focusing on building a healthy work environment where employees thrive and can maximize their potential, improving health outcomes for all.

The program focuses on five pillars:

work, finances, connections, minds and bodies.

In the United States, “Healthy You” offers employees a range of wellness benefits, including free flu shots, teledoc services, nutrition counseling, tobacco cessation support and reimbursement for wellness-related expenses.

Our local Employee Assistance Programs ("EAPs") are available to our workforce worldwide.

EAPs offer counseling services, alongside accessible training and webinars focused on a variety of everyday topics including financial planning, nutrition, social connections, stress management, time management and work-life balance.

While benefits vary depending on location and local regulations, in all cases we aim to support the physical, mental, social, and financial well-being of employees and their families.

Financial Rewards.

IQVIA compensation programs support our overall strategy by linking employee compensation with both business and personal performance.

This approach to compensation demonstrates our “pay for performance” philosophy, as well as our focus on providing compensation programs that attract, retain and motivate and reward employees.

This approach to compensation demonstrates our “pay for performance” philosophy, as well as our focus on providing compensation programs that attract, retain, motivate and reward employees.

In addition to the benefits described above, our compensation programs include base salaries, annual bonuses, and long-term incentive awards.

Talent and Learning.

Helping our people grow, develop, and reach their full potential is a key component of our human capital management strategy.

Nurturing talent is critical in a highly competitive industry, and it also keeps our employees motivated and engaged.

We invest in our employees’ development throughout their careers at IQVIA through our various talent and learning initiatives.

Our strategy is focused on supporting business growth, optimizing our offerings through enhanced digital tools, and building the future leaders of IQVIA.

At the same time, we are transforming the employee experience and have evolved our performance management approach to be more responsive to our employees’ experiences.

Mirroring our overall culture, our approach to talent and learning is underpinned by the philosophy of empowerment, and we encourage all employees to take ownership of their careers.

In 2023, we worked closely with our employees to launch One IQVIA Multiple Careers, an initiative to facilitate upskilling and internal movement in line with IQVIA’s growth strategy and our employees career aspirations.

Employees are empowered to shape their careers through extensive resources and tools, aligning with their aspirations, interests, and opportunities.

Additionally in 2023, we launched the IQVIA Learning Academy, which helps inform employees about in-demand skills within IQVIA, providing transparency about the talent and expertise needed to meet future growth objectives.

The academy defines and delivers learning pathways for employees of all levels to build those skills and democratizes access to enable all employees to explore future opportunities.

Since launching in May 2023, there have been over 230,000 visits to the academy.

We offer a suite of formal and informal learning opportunities, many which focus on business specific topics such as regulatory compliance, technology, analytics, clinical and therapy areas, and more.

Our digital Talent and Learning Hub gives employees access to training resources on a large variety of future skills.

There were more than 1 million visits worldwide to our Talent and Learning Hub in 2023.

The ease of access to training resulted in the completion of over 1.7 million e-learning programs in various subjects, including technology, client-facing skills and project management skills.

We want our employees to have meaningful careers, and we are committed to the idea that career development is a result of growth through new experiences.

To foster this growth, we engage employees on their purpose, strengths, and agility.

We encourage employees to remain curious and flexible towards their career, exploring opportunities across the organization.

Employees take ownership for their development in partnership with managers, mentors, and others.

Similarly, performance management is driven by ongoing conversations about priorities, contributions and development.

In 2020, we introduced our Future Leaders Program, a robust training aimed to develop the next generation of leadership at IQVIA.

In 2023, 46 senior leaders from 15 countries participated in the four-month program, bringing the total number of participants since inception to 277.

Sessions consisted of live webinars co-led by senior executives, peer coaching, business projects and skills assessments.

Feedback continues to be positive with the program being rated highly by participants, scoring an average of 4.6 out of 5.

In 2021, we piloted our Emerging Leaders Program, which is specifically designed for high-potential employees at the managerial level and offers comprehensive training to shape our future leaders.

In 2023, a total of 254 employees from 34 countries dedicated 7,979 hours of training taught by business leaders and subject matter experts from across the organization, covering topics such as agility, collaboration, executive presence and decision making.

In addition, participants received peer coaching, 360-degree assessments and individual development plans.

In 2022, we launched the Leader of the Future Portal (LOFT) to help our managers shift their mindsets to the hybrid work environment.

The solution allows managers to find learning courses, short videos, live trainings and quick reads from easy-to-navigate categories focused on being a remote leader, maintaining productivity virtually and leading hybrid teams.

In 2023, the portal had 34,000 visits and completed 19,973 hours of training.

In 2023, we launched our New Manager program to support employees who are new to managing people and those who are experienced managers but new to IQVIA.

The program is a guided learning path that helps managers navigate the available resources and prioritize the most relevant tools during the managers’ first 12 months.

Since the June launch, there were 4,300 visits.

Talent & Learning.

In a highly competitive industry, nurturing talent is both a priority and a necessity.

Employee growth and development are key components of our Employee Value Proposition and our human capital management strategy.

We foster a culture of curiosity and flexibility, encouraging our employees to explore different career opportunities within the organization.

By taking ownership of their development in collaboration with managers, mentors, and peers, our employees are empowered to shape their career paths and achieve their full potential.

We invest in our employees' development throughout their careers at IQVIA, with a range of talent and learning initiatives that leverage cutting-edge digital tools to support business growth and meet the evolving needs of our employees.

Our performance management system is aligned to this journey, emphasizing continuous dialogue about priorities, contributions, and personal growth – ensuring that employees feel supported, valued and recognized.

We are committed to building an environment where our employees have opportunities to learn, grow and shape their careers according to their aspirations and interests.

Through our One IQVIA Multiple Careers model, we offer an extensive range of technology-enabled tools and resources from onboarding through to leadership training, enabling our people to plan their own career paths.

Our continually expanding Career Connections platform provides 37,000 registered users access to mentoring, projects, and open roles to further develop skills in a practical setting and pursue their next role when ready.

Our learning and development offerings allow our employees to put the One IQVIA, Multiple Careers Model into action.

For example, our IQVIA Learning Academy informs employees about in-demand skills within IQVIA, providing transparency about the talent and expertise needed to meet future growth objectives.

In 2024, employees continued building future skills through 215,000 visits to the IQVIA Learning Academy, with new learning paths aligned to business needs spanning artificial intelligence, evolving leadership, and data insights, amongst others.

Learning at IQVIA is not a one-size-fits-all approach.

Our offerings span business simulations, peer coaching, skills assessments, business projects, on-demand courses, short videos, live trainings, and quick reads.

We also continually explore how technology can enhance our training offerings, making AI-based training another key focus area.

For example, we used AI to develop a simulation of a fictional Alzheimer’s disease clinical trial where learners can practice the key skills needed to be a Clinical Research Associate.

In the Asia Pacific region, our 2024 AI employee program included training, a hackathon, and use-case-sharing — enabling participants to build confidence in using AI tools in their work.

We maintain a focus on building the strong leadership pipeline we need to ensure our long-term success, offering differentiated programs tailored to different levels and goals.

In 2024, over 1,099 employees from 48 countries participated in our enterprise leadership programs for key talent.

Several examples include:

• Global Leadership Development Program:

Designed to build the next generation of global leaders by developing their business acumen, strategy, and people leadership skills.

• Leader of the Future Portal (LOFT):

Continues to help our managers shift their mindsets to successfully lead high-performing teams in a hybrid work environment.

• General Management Acceleration Program:

Piloted in 2024 in the U.S.

and EMEA region, we created a program for future leaders within the Research and Development Solutions (R&DS) business to build our pipeline of individuals ready to fill a range of senior R&DS leadership roles.

Expansion to the Asia Pacific region is planned for 2025.

Health and Safety.

Ensuring the health and safety of our employees is essential, whether they work in our corporate offices or labs.

We strive to create a culture of safety so our employees can remain healthy and productive.

We are committed to maintaining a safe workplace that supports and promotes our employees’ health.

We adopt a safety-first mindset and continually look for ways to strengthen our procedures and practice, striving for safety excellence.

We incorporate environmental laws and regulations into our policies and procedures throughout our organization.

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Our Code of Conduct describes the obligations of employees to maintain such an environment, follow all applicable safety and security rules and complete required training.

IQVIA operates laboratories in the United States, United Kingdom, South Africa, Singapore, India, Japan, and China.

IQVIA operates laboratories in the Americas, Asia, Europe, South Africa, and the United Kingdom.

Certain IQVIA laboratories are certified to ISO 14001:2015 and ISO 45001:2018.

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Also posted on our website are our certificate of incorporation and by-laws, the charters for our Audit Committee, Leadership Development and Compensation Committee and Nominating and Governance Committee, our Corporate Governance Guidelines, and our Code of Conduct governing our directors, officers and employees.

Copies of our SEC reports and corporate governance information are available in print upon the request of any stockholder to our Investor Relations Department at IQVIA Holdings Inc., 1725 Route 46 East, Parsippany, New Jersey 07054.

Within the time period required by the SEC and the New York Stock Exchange (“NYSE”), we will post on our website any amendment to the Code of Conduct or any waiver of such policy applicable to any of our senior financial officers, executive officers or directors.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business