IQV · 10-K filed 17 Feb 2026 · year to 31 Dec 2025

IQVIA

29 named things its latest annual report says its results depend on, each in the company's own words. 22 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

Large clients (largest client)

concentrated in · approximately 5%named as a risk

For the year ended December 31, 2025 the largest client based on its percentage of total Company revenues contributed approximately 5%.Business (Item 1)

Government entities

earns fromnamed as a risk

We derive a portion of our revenues from sales to government entities around the world.Risk factors (Item 1A)

Also named by ADBE, FFIV, IOT, ROP

Biopharmaceutical and healthcare industries

earns fromnamed as a risk

The vast majority of our revenues are generated from sales to the biopharmaceutical and healthcare industries.Risk factors (Item 1A)

Suppliers

Third-party healthcare data suppliers

depends on · approximately 150,000 data suppliersnamed as a risk

Our scaled and growing information set contains approximately 68 petabytes of unique proprietary data sourced from approximately 150,000 data suppliers and covering over one million data feeds globally.Business (Item 1)

Clinical trial support suppliers (drugs, kits, reagents, transportation)

depends onnamed as a risk

Such support services include, but are not limited to, third- party transportation providers, suppliers of drugs for patients participating in clinical trials, suppliers of kits for use in our clinical trial laboratories business, suppliers of reagents for use in our testing equipment and providers of maintenance contracts for our equipment.Risk factors (Item 1A)

Competitors

Thermo Fisher Scientific (PPD)

competes with

Some of our larger competitors include ICON plc, Parexel International Corporation, Pharmaceutical Product Development, Inc. (part of Thermo Fisher Scientific Inc.), and Syneos Health, among others.Business (Item 1)

Also named by CDNA, IR, SOLV

ICON plc

competes with

Also named by MEDP

Parexel International Corporation

competes with

Syneos Health

competes with

Contract Sales & Medical Solutions’ primary competitors in the United States are Syneos Health, Amplity Health, Eversana and Inizio.Business (Item 1)

Veeva

competes with

Our offerings compete with various firms, including Accenture, Aetion (a Datavant company), 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.Business (Item 1)

Places

China

operates innamed as a risk

We also continue to invest significantly in growth opportunities in emerging markets, such as the development, launch and enhancement of services in China, India, Turkey, and other countries.Risk factors (Item 1A)

Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more

India

operates innamed as a risk

Also named by A, AAPL, ACN, AJG, AKAM, AMZN, AOS, AVGO and 54 more

Turkey

operates innamed as a risk

Also named by BALL, COR, ECL, JNJ, META, YUM

Hazards

Russia-Ukraine conflict

named as a risk

natural disasters, public health emergencies and pandemics, or international conflict, such as the ongoing conflict between Russia and Ukraine, or terrorist acts, could interrupt our services, endanger our personnel, lower patient visits and increase patient drop-out rates, cause delays in recruitment of new patients, decrease the productivity of our clinical research associates, cause other project delays or loss of clinical trial materials or results.Risk factors (Item 1A)

Also named by ABT, ADM, ARWR, CAG, CDRE, DOW, EMN, FDX and 14 more

Commodities and inputs

Euro

exposed to its price · €3,128 million ($3,673 million)named as a risk

As of December 31, 2025, our total foreign currency denominated debt was €3,128 million ($3,673 million), with approximately 94% being designated as a hedge.Market risk (Item 7A)

Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more

British Pound

exposed to its price · approximately $127 millionnamed as a risk

The principal currency hedged in 2025 with foreign currency forward contracts was the British Pound.Market risk (Item 7A)

Also named by ABBV, ADBE, AJG, AME, AMP, APA, BF/B, BRO and 39 more

Regulators

U.S. Food and Drug Administration (FDA)

subject tonamed as a risk

For example, we must adhere to applicable regulatory requirements such as those required by the FDA, the EMA and the competent authorities of the member states of the EU, and the MHRA in the UK, and Good Laboratory Practice and GCP requirements, which govern, among other things, the design, conduct, performance, monitoring, auditing, recording, analysis, and reporting of clinical trials.Risk factors (Item 1A)

Also named by A, ABBV, ABT, AMGN, ARE, ARWR, ATR, AXGN and 112 more

U.S. Drug Enforcement Administration (DEA)

subject to

Our United States laboratories using controlled substances for testing purposes are licensed by the DEA.Business (Item 1)

Also named by CAH, COR, DGX, DHR, HALO, HSIC, LH, MCK and 7 more

Laws and programs

EU General Data Protection Regulation (GDPR)

subject tonamed as a risk

Such laws and regulations also include the European Union’s (“EU”) General Data Protection Regulation (GDPR), Canada’s Personal Information Protection and Electronic Documents Act (PIPEDA), Brazil’s General Data Protection Law (LGPR), India’s Digital Personal Data Protection Act (DPDP Act), Japan’s Act on the Protection of Personal Information (APPI), China’s Personal Information Protection Law (PIPL) and many other data protection and privacy laws at the national, state/provincial and local level.Risk factors (Item 1A)

Also named by ACN, ADSK, AIG, ALK, AMG, ANET, APG, AXON and 61 more

U.S. Foreign Corrupt Practices Act (FCPA)

subject tonamed as a risk

We are required to comply with the FCPA, the UK Bribery Act and other international anti-corruption laws, which prohibit companies from engaging in bribery including corruptly or improperly offering, promising, or providing money or anything else of value to non-United States officials and certain other recipients.Risk factors (Item 1A)

Also named by A, ADBE, ADP, AIR, AJG, ALB, AME, AMZN and 112 more

Medicaid

subject tonamed as a risk

In addition, changes to the Medicaid program or the federal 340B drug pricing program, which imposes ceilings on prices that drug manufacturers can charge for medications sold to certain health care facilities, could have a material impact on our customers, which could reduce demand for our services.Risk factors (Item 1A)

Also named by ABBV, ABT, ARE, ARWR, BAX, BMY, BSX, CHE and 39 more

Inflation Reduction Act of 2022

subject tonamed as a risk

Any significant change in regulations, such as the Inflation Reduction Act of 2022 (IRA), which contains drug price negotiation provisions, or change in the interpretation of existing regulations, could reduce demand for our offerings or increase our expenses.Risk factors (Item 1A)

Also named by ABBV, APD, ARE, BKH, DD, DHR, ELV, ENPH and 30 more

340B Drug Pricing Program

subject tonamed as a risk

Also named by ABBV, BAX, BIIB, BMY, CAH, COR, CVS, EXEL and 13 more

EU-U.S. Data Privacy Framework

subject tonamed as a risk

While the replacement for the EU-U.S. Privacy Shield (the EU-U.S. Data Privacy Framework or “DPF”) has been approved for the transfer of personal data from the EU to certified companies in the U.S., the DPF is also subject to legal challenges and potential invalidation, thereby rendering data transfers from the EU to the US legally uncertain and keeping the area of data transfers in a state of flux.Risk factors (Item 1A)

Also named by ADBE, APP, CRM, CRWD, DDOG, DOCN, GTLB, IDXX and 12 more

Health Insurance Portability and Accountability Act (HIPAA)

subject tonamed as a risk

When acting as a HIPAA covered entity or as a business associate of a covered entity, there can be liability for improper processing of PHI.Risk factors (Item 1A)

Also named by ADI, BBY, BR, BWIN, CART, CTSH, DGX, KR and 8 more

Clinical Laboratory Improvement Amendments (CLIA)

subject tonamed as a risk

The failure to meet these requirements may result in civil penalties and suspension or revocation of the CLIA certification.Business (Item 1)

Also named by COO, DGX, GH, ILMN, LH, MEDP, NTRA

Most-Favored-Nation Prescription Drug Pricing executive order

subject tonamed as a risk

For example, in May 2025, the Trump administration issued an executive order entitled “Delivering Most-Favored-Nation Prescription Drug Pricing to American Patients,” which, among other things, directs the HHS and other agencies to communicate most-favored-nation price targets to pharmaceutical manufacturers to bring prices for U.S. patients in line with comparably developed nations and to facilitate direct-to-consumer purchasing programs.Risk factors (Item 1A)

Also named by ARE, BMY, CAH

Good Clinical Practice (GCP)

subject tonamed as a risk

Once initiated, clinical trials must be conducted pursuant to and in accordance with the applicable investigational new drug/device application or clinical trial application, the requirements of the relevant institutional review boards or ethics committees, and GCP requirements.Risk factors (Item 1A)

Also named by MEDP

EU Artificial Intelligence Act

subject to

IQVIA employs a wide variety of policies, procedures, guidelines, training, communications, tools and other resources to support the responsible use of AI technologies and comply with legislation such as the EU AI Act, including:Business (Item 1)

Also named by ABNB, ADP, AIOT, AKAM, ALAB, AMG, APP, AVAV and 24 more