IQVIA HOLDINGS INC. (IQV) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that IQVIA HOLDINGS INC. surfaced in its latest filing.

• EU-U.S. Privacy Shield framework was struck down by the European Court of Justice in July 2020.July 2020
• In May 2025, the Trump administration issued an executive order directing HHS to communicate most-favored-nation price targets to pharmaceutical manufacturers.May 2025
• Three states passed laws in 2006 and 2007 restricting prescriber-identifiable data for branded drug promotion, later declared unconstitutional in Sorrell v. IMS Health (2011).
• Starting in the first quarter of 2026, IQVIA restructured its operations to reduce reportable segments from three to two.first quarter of 2026
• IQVIA must comply with a quarterly maximum senior secured net leverage ratio test and minimum interest coverage ratio test under the revolving credit facility and term A and B loans governed by the Fifth Amended and Restated Credit Agreement.
• The receivables financing facility for a bankruptcy-remote SPE limits borrowing based on purchased receivables, but debt can increase when supported by such receivables.
• IQVIA is subject to Section 203 of the DGCL, which prohibits business combinations with an interested stockholder for three years unless prior board approval, or the stockholder owned at least 85% of voting stock, or the combination is approved by the board and two-thirds of disinterested stockholders.
• IQVIA's certificate of incorporation renounces interest in business opportunities of TPG Global, LLC, Bain Capital, LLC, CPP Investment Board Private Holdings Inc., and Leonard Green & Partners, L.P. and their affiliates while a nominee designated by such stockholder serves on IQVIA's board.
• The Inflation Reduction Act of 2022 (IRA) contains drug price negotiation provisions.2022
• EU-U.S. Data Privacy Framework (DPF) is subject to legal challenges and potential invalidation.