IQVIA Holdings (IQV) 10-K risk factor changes: FY2020 vs FY2019

RISK FACTORS

*We operate in a rapidly changing environment that involves a number of risks, some of which are beyond our control.

You should consider carefully the risks and uncertainties described below together with the other information included in this Annual Report on Form 10-K, including our consolidated financial statements and related notes included elsewhere in this Annual Report on Form 10-K, in evaluating our Company.

The occurrence of any of the following risks may materially and adversely affect our business, financial condition, results of operations and future prospects.*

Summary of Risk Factors

Below is a summary of some of the principal risks that could adversely affect our business, operations and financial results:

Risks Relating to Our Business

- Our business and operations may be adversely affected by the COVID-19 pandemic.

- The potential loss or delay of contracts could adversely affect our results.

- Our financial results may be adversely affected if we underprice our contracts, overrun our cost estimates or fail to receive approval for or experience delays in documenting change orders.

- Failure to meet productivity objectives under our internal business transformation initiatives could adversely impact our competitiveness and harm our operating results.

- If we are unsuccessful at investing in growth opportunities and are unable to develop and market new services or enter new markets, our growth, results of operations or financial condition could be adversely affected.

- If we are unable to successfully identify, acquire and integrate existing businesses, services and technologies, our business, results of operations and financial condition could be adversely impacted.

- If we are unable to attract suitable investigators and patients for our clinical trials, our clinical development business might suffer.

- If we lose the services of key personnel or are unable to recruit additional qualified personnel, our business could be adversely affected.

*Intellectual Property*

- We depend on third parties for data and support services.

Our suppliers or providers might restrict our use of or refuse to license data or provide services, which could lead to our inability to access certain data or provide certain services and, as a result, materially and adversely affect our operating results and financial condition.

- Our success depends on our ability to protect our intellectual property rights.

- We may be subject to claims by others that we are infringing on their intellectual property rights.

- We rely on licenses from third parties to certain technology and intellectual property rights for some of our services and the licenses we currently have could terminate or expire.

*IT systems and Information*

- Security breaches and unauthorized use of our IT systems and information could expose us, our clients, our data suppliers or others to risk of loss.

- We may experience challenges with the acquisition, development, enhancement or deployment of technology necessary for our business.

- Our business depends on the continued effectiveness and availability of our information systems, including the information systems we use to provide our services to our clients.

- Data protection, privacy and similar laws restrict access, use and disclosure of personal information, and failure to comply with these laws could materially harm our business.

*Client Risks*

- Consolidation in the industries in which our clients operate may reduce the volume of services purchased by consolidated clients following an acquisition or merger.

- We may be adversely affected by client or therapeutic concentration.

- Our relationships with existing or potential clients who are in competition with each other may adversely impact the degree to which other clients or potential clients use our services.

- There is a risk that we may initiate a clinical trial for a client, and then the client becomes unwilling or unable to fund the completion of the clinical trial, and we may be ethically bound to complete or wind down the clinical trial at our own expense.

*Market Forces*

- Disruptions in the credit and capital markets and unfavorable general economic conditions could negatively affect our business, results of operations and financial condition.

- Our effective income tax rate may fluctuate for a variety of reasons.

- Changes in accounting standards issued by the Financial Accounting Standards Board (“FASB”) or other standard-setting bodies may adversely affect our financial statements.

- Due to the global nature of our business we are subject to international economic, political and other risks that could negatively affect our results of operations and financial condition.

*Liability Exposure*

- Our Research & Development Solutions business could subject us to potential liability.

- Our Contract Sales & Medical Solutions business could result in liability to us if a drug causes harm to a patient.

- Our insurance may not cover all of our indemnification obligations and other liabilities associated with our operations.

[removed: You] [added: *You] should read the following discussion and analysis of our financial condition and results of operations together with our consolidated financial statements and the related notes included elsewhere in this Annual Report on Form 10-K.

You should read the “Risk Factors” section of this Annual Report for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and [removed: analysis.][added: analysis.*]

[removed: Overview][added: Overview]

IQVIA is a leading global provider of advanced analytics, technology [removed: solutions] [added: solutions,] and [removed: contract] [added: clinical] research services to the life sciences industry.

[removed: Powered by the IQVIA CORE, we deliver unique and actionable] [added: Our] insights [removed: at the intersection of large scale analytics, transformative technology] and [removed: extensive domain expertise, as well as] execution capabilities [removed: to] help biotech, medical [removed: device,] [added: device] and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders tap into a deeper understanding of diseases, human behaviors and scientific advances, in an effort to advance their path toward cures.

With approximately [removed: 67,000] [added: 70,000] employees, we conduct operations in more than 100 countries.

Technology & Analytics Solutions provides critical information, technology solutions and real world [removed: solutions] [added: insights] and services to our life science clients.

[removed: Research & Development Solutions, which primarily serves] biopharmaceutical clients, is engaged in research and development and provides clinical research and clinical trial services.

[removed: Industry Outlook][added: Industry Outlook]

[removed: Business Combinations][added: Business Combinations]

We have completed and will continue to consider strategic business combinations to enhance our capabilities and offerings in certain areas, including various individually immaterial acquisitions during the years ended December 31, [removed: 2019] [added: 2020] and [removed: 2018.][added: 2019.]

[removed: Sources] [added: Sources] of [removed: Revenue][added: Revenue]

[removed: Costs] [added: Costs] and [removed: Expenses][added: Expenses]

In [removed: 2019,] [added: 2020,] approximately [removed: 40%] [added: 35%] of our revenues were denominated in currencies other than the United States dollar, which represents approximately [removed: 55] [added: 60] currencies.

[removed: Consolidated] [added: Consolidated] Results of [removed: Operations][added: Operations]

For a discussion of our results of operations comparison for [removed: 2018] [added: 2019] and [removed: 2017,] [added: 2018,] refer to our Annual Report on Form 10-K for the fiscal year ended December 31, [removed: 2018] [added: 2019] filed on February [removed: 19, 2019.][added: 18, 2020.]

Our reportable segment results of operations comparison for 2018 [removed: and 2017] included below within this Annual Report on Form 10-K reflects the change in segment presentation that occurred during the first quarter of 2019.

[removed: Revenues][added: Revenues]

| | | [removed: Year] [added: | Year] Ended December [removed: 31, | | | | | | | | | | | | 2019 vs. 2018] [added: 31,] | | | | | | | | [removed: 2018 vs. 2017] | | | | | | |

| [removed: (dollars] [added: (dollars] in [removed: millions)] [added: millions)] | | [removed: 2019] | [added: 2020] | | | [removed: 2018] | | | [added: 2019] | [removed: 2017] | | | | [removed: $] | [added: 2018] | | | [removed: %] | | | [added: $] | [removed: $] | | | | [removed: %] | [added: %] | | [added: | | | | $ | | | | | | % | | |]

| Revenues | | [added: | $ | 11,359 | | | | |] $ | 11,088 | | | [added: | |] $ | 10,412 | | | [removed: $] | [removed: 9,702] | [added: $] | [added: 271] | [removed: $] | [removed: 676] | | | [added: 2.4] | [removed: 6.5] | [removed: %] [added: %] | | [added: | |] $ | [removed: 710] [added: 676] | | | | [removed: 7.3] | [added: 6.5 | |] % |

[removed: 2019] [added: *2020] compared to [removed: 2018][added: 2019*]

This increase was comprised of constant currency revenue growth of approximately [removed: $835] [added: $365] million, or [removed: 8.0%,] [added: 8.1%, reflecting revenue growth in the Europe] and [removed: a negative impact of approximately $159 million from] [added: Africa region as well as] the [removed: effects of foreign currency fluctuations.][added: Americas region.]

[removed: The] [added: This increase was comprised of] constant currency revenue growth [removed: was comprised] of [added: approximately $252 million, or 2.3%, reflecting] a [removed: $444] [added: $365] million increase in Technology & Analytics Solutions, [added: offset by] a [removed: $378] [added: $38] million [removed: increase] [added: decrease] in Research & Development Solutions and a [removed: $13] [added: $75] million [removed: increase] [added: decrease] in Contract Sales & Medical Solutions.

[removed: Costs] [added: Costs] of Revenue, exclusive of Depreciation and [removed: Amortization][added: Amortization]

| | | [removed: Year] [added: | Year] Ended December [removed: 31,] [added: 31,] | | | | | | | | | | | [added: | | | |]

| [removed: (dollars] [added: (dollars] in [removed: millions)] [added: millions)] | | [removed: 2019] | [added: 2020] | | | [removed: 2018] | | | [added: 2019] | [removed: 2017] | | | [added: | | 2018 | | |]

| Costs of revenue, exclusive of depreciation and amortization | | [removed: $] | [removed: 7,300] [added: $] | [added: 7,500] | | [added: | | |] $ | [removed: 6,746] [added: 7,300] | | | [added: | |] $ | [removed: 6,301] [added: 6,746] | |

| % of revenues | | | [removed: 65.8] [added: 66.0] | [removed: %] | [added: %] | | [removed: 64.8] | [added: | 65.8 | |] % | | | [removed: 64.9] | [added: 64.8 | |] % |

[removed: 2019] [added: *2020] compared to [removed: 2018][added: 2019*]

When compared to [removed: 2018,] [added: 2019,] costs of revenue, exclusive of depreciation and amortization, in [removed: 2019] [added: 2020] increased [removed: $554] [added: $200] million, or [removed: 8.2%.][added: 2.7%.]

[removed: The] [added: This increase included a] constant currency [removed: growth was] [added: increase of approximately $223 million, or 3.1%,] comprised of a [removed: $369] [added: $232] million increase in Technology & Analytics Solutions, a [removed: $295] [added: $67] million increase in Research & Development [removed: Solutions and] [added: Solutions, offset by] a [removed: $26] [added: $76] million [removed: increase] [added: decrease] in Contract Sales & Medical Solutions.

As a percent of revenues, costs of revenue remained flat compared to [removed: 2018.][added: 2019.]

Selling, General and [removed: Administrative] [added: Administrative] Expenses

| | | [removed: Year] [added: | Year] Ended December [removed: 31,] [added: 31,] | | | | | | | | | | | [added: | | | |]

| [removed: (dollars] [added: (dollars] in [removed: millions)] [added: millions)] | | [removed: 2019] | [added: 2020] | | | [removed: 2018] | | | [added: 2019] | [removed: 2017] | | | [added: | | 2018 | | |]

| Selling, general and administrative expenses | | [removed: $] | [removed: 1,734] [added: $] | [added: 1,789] | | [added: | | |] $ | [removed: 1,716] [added: 1,734] | | | [added: | |] $ | [removed: 1,622] [added: 1,716] | |

| % of revenues | | | [removed: 15.6] [added: 15.7] | [removed: %] | [added: %] | | [removed: 16.5] | [added: | 15.6 | |] % | | | [removed: 16.7] | [added: 16.5 | |] % |

[removed: 2019] [added: *2020] compared to [removed: 2018][added: 2019*]

These increases were partially offset by a [removed: $6 million decrease in Technology & Analytics Solutions and a $5] [added: $4] million decrease in Contract Sales & Medical Solutions.

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

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

We are a global leader in protecting individual patient privacy.

We use a wide variety of privacy-enhancing technologies and safeguards to protect individual privacy while generating and analyzing information on a scale that helps healthcare stakeholders identify disease patterns and correlate with the precise treatment path and therapy needed for better outcomes.

Research & Development Solutions, which primarily serves

Overview of the Impact of COVID-19

As a result of the global spread of COVID-19 beginning in early March, we began to experience general business disruptions that impeded normal business activity including our ability to perform on-site monitoring and deliver offerings that rely on face-to-face interaction or in-person gatherings.

These disruptions have impacted all three of our reportable segments.

The Research & Development Solutions business responded quickly to support our clients with the development of vaccines and therapies for COVID-19.

We have been involved in clinical trials and studies for the virus, as well as patient recruitment for COVID-19 trials.

The pandemic has accelerated the need for remote and risk-based monitoring in clinical research, which in turn has accelerated the adoption of our virtual trial technology.

This technology was deployed to speed vaccine development and helped secure full-service COVID trials and new studies with top pharmaceutical clients.

We continue to see gradual improvement in the accessibility of clinical research sites in the Research & Development Solutions business.

We are seeing a return to on-site monitoring visits which exceeded the number of remote visits during the second half of the year.

In instances where sites remain physically inaccessible for clinical monitoring, remote monitoring and virtual solutions continue to be effective alternatives.

Site start-up activities continued to increase along with patient recruitment trends.

In our Technology & Analytics Solutions segment, our Real-World business has been relatively well insulated from the impacts of the virus and it had strong growth for the year.

The Real-World business is advanced in the use of secondary data, remote monitoring and virtual research approaches, which helped us pivot quickly to working in the new remote world at the onset of the pandemic.

However, the portion of our Real-World business that requires site monitoring activity also experienced limitations on site accessibility, which led to a reduction in the associated revenue.

Within our Technology & Analytics Solutions segment, we have had very little interruption in data supply and demand.

Our analytics and consulting businesses have performed well despite business development being hampered by lack of in-person interactions.

Our Technology & Analytics solutions offerings that rely on face-to-face interactions or are dependent on in-person gatherings, events or conferences continue to experience disruption, and where we were unable to execute on our commitments due to COVID-19, we were not able to recognize the associated revenue in the period.

Activity within the Contract Sales and Medical Solutions business continues to be more challenging due to a decline in sales rep visits, and physician attention diverted to the COVID-19 crisis.

We have accelerated and expanded a variety of cost containment actions to reduce the impact to profitability.

We have activated business continuity plans, including remote delivery capabilities in technology and analytics, remote monitoring and virtual trials in Research & Development Solutions and virtual commercial activity with clients wherever possible.

We anticipate an acceleration of business momentum when the crisis subsides as delayed trial activities will still need to be performed.

The Company continues to maintain strong liquidity.

As of December 31, 2020, cash and cash equivalents were $1,814 million and the Company had no amounts drawn under its $1.5 billion revolving credit facility.

At December 31, 2020, the Company was in compliance with the financial covenants under its debt agreements in all material respects and does not have material uncertainty about ongoing ability to meet the covenants of our credit arrangements.

To help ensure the safety and well-being of our employees, customers, partners and the broader community and continuity of our business operations, we continue to monitor health authority guidance on mitigating the spread of COVID-19 and managing positive cases.

We manage our response to the pandemic through a combination of enterprise-wide and regional governance teams, with particular focus on the medical and scientific, information technology, human capital and financial impacts of the pandemic on our business.

These teams met, and continue to meet, regularly as necessary based on the status of the pandemic.

We closely monitor the impact of COVID-19 on our operations and report to our Board regularly on the progress of our response to the COVID-19 outbreak.

We have established global workplace protocols that govern the return of our employees to our offices.

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| | | | | | | 2020 vs. 2019 | | | | | | | | | | | | 2019 vs. 2018 | | | | | | | | | | | | | | | | | | | | | | | |

In 2020, our revenues increased $271 million, or 2.4%, as compared to 2019.

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Formed through the Merger of IMS Health and Quintiles, IQVIA applies human data science – leveraging the analytic rigor and clarity of data science to the ever-expanding scope of human science – to enable companies to reimagine and develop new approaches to clinical development and commercialization, speed innovation, and accelerate improvements in healthcare outcomes.

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In 2019, our revenues increased $676 million, or 6.5%, as compared to 2018.

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This increase included a constant currency increase of approximately $690 million, or 10.2%, and a positive impact of approximately $136 million from the effects of foreign currency fluctuations.

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The $18 million increase in selling, general and administrative expenses in 2019 as compared to 2018 included a constant currency increase of approximately $60 million, or 3.5%, and a positive impact of approximately $42 million from the effects of foreign currency fluctuations.

The constant currency growth primarily consisted of a $34 million increase in Research & Development Solutions and a $37 million increase in general corporate and unallocated expenses.

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Impairment Charges

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| Impairment charges | | $ | — | | | $ | — | | | $ | 40 | |

During 2017, we recognized $40 million of impairment losses for declines in fair value of goodwill and identifiable intangible assets in Encore.

See Note 8 to our audited consolidated financial statements included elsewhere in this Annual Report on Form 10-K for additional information with respect to impairment charges.

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During 2019, we recognized $75 million of restructuring charges, net of reversals for changes in estimates, under our existing restructuring plans as a result of continuing efforts to streamline our global operations.

The remaining actions under these plans, as well as actions associated with upcoming 2020 plans, are expected to occur throughout 2020 and are expected to consist of severance, facility closure and other exit-related costs.

During 2018, we recognized $68 million of restructuring charges, net of reversals for changes in estimates, respectively, under our existing restructuring plans.

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Interest expense during 2019 was higher than 2018 due to an increase in the average debt outstanding, primarily as a result of the May 2019 issuance of $1.1 billion of 5.00% senior notes due 2027 and the June 2018 issuance of $1.63 billion of additional term B loans.

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It is expected that during 2020 the U.S. Treasury Department will issue final regulations on FDII.

On December 22, 2017, the U.S. government enacted the Tax Act.

The Tax Act is comprehensive legislation that includes provisions that lower the federal corporate income tax rate from 35% to 21% beginning in 2018 and imposes a one-time transition tax on undistributed foreign earnings.

ASC 740 “Income Taxes” generally requires the effects of the tax law change to be recorded in the period of enactment.

However, the SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”) to address situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the Tax Act.

During the fourth quarter of 2017, we recognized the tax impacts related to the transition tax on undistributed foreign earnings and the impact to deferred tax assets and liabilities and included these amounts in our consolidated financial statements on a provisional basis.

During the fourth quarter of 2018, we completed our accounting for SAB 118 that resulted in a full year benefit of $35 million related to the transition tax.

Additionally, in 2018 as a result of the new provisions of the Tax Act, we recorded a benefit of $25 million related to FDII as well as a tax expense of $35 million related to GILTI.

Our effective income tax rate was also favorably impacted by a tax benefit of $188 million related to purchase accounting amortization of approximately $813 million as a result of the Merger.

For 2017, we recorded a provisional deferred tax benefit of $966 million related to the revaluation of deferred taxes at the newly enacted 21% rate and the reversal of the deferred tax liability on undistributed foreign earnings net of the newly enacted transition tax.

We no longer consider any of our foreign earnings to be indefinitely reinvested.

Our effective income tax rate was also favorably impacted by a tax benefit of $261 million related to purchase accounting amortization of approximately $763 million as a

result of the Merger.

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See Note 4 to our audited consolidated financial statements included elsewhere in this Annual Report on Form 10-K for additional information.

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[removed: Foreign] [added: Foreign] Currency Exchange [removed: Rates][added: Rates]

We transact business in more than 100 countries and approximately [removed: 55] [added: 60] currencies and are subject to risks associated with fluctuating foreign currency exchange rates.

Accordingly, we enter into foreign currency forward contracts to hedge certain forecasted foreign currency cash flows related to service contracts and to hedge non-United States dollar anticipated intercompany [removed: royalties.][added: reseller fees.]

The principal currencies hedged [removed: are the Euro,] [added: in 2020 were] the British [removed: Pound, the Japanese Yen, the Swiss Franc] [added: Pound] and the [removed: Canadian dollar.][added: Japanese Yen.]

The contractual value of our foreign exchange derivative instruments, all of which were foreign exchange forward contracts, was approximately [removed: $148] [added: $70] million at December 31, [removed: 2019.][added: 2020.]

The potential gain in fair value for foreign exchange forward contracts based on a hypothetical 10% decrease in the value of the United States dollar [removed: or, in the case of non-United States dollar related contracts, the currency being purchased,] was [removed: less than $1] [added: $7] million at December 31, [removed: 2019.][added: 2020.]

However, the change in the fair value of the foreign exchange forward contracts would likely be offset by a change in the value of the future service contract revenue or [removed: royalty] [added: reseller fee] being [removed: hedged caused by the currency exchange rate fluctuation.]

Excluding the impacts from any outstanding or future hedging transactions, a hypothetical 10% change in average exchange rates used to translate all foreign currencies to the United States dollar would have impacted income before income taxes for [removed: 2019] [added: 2020] by approximately [removed: $165] [added: $120] million.

As of December 31, [removed: 2019,] [added: 2020,] these borrowings (net of original issue discount) were [removed: €5,273] [added: €5,323] million [removed: ($5,915] [added: ($6,529] million).

A hypothetical 10% decrease in the value of the United States dollar would lead to a potential loss in fair value of [removed: $592] [added: $653] million.

[removed: Interest Rates][added: Interest Rates]

As of December 31, [removed: 2019,] [added: 2020,] we had approximately [removed: $5.9] [added: $6.4] billion of variable rate indebtedness and interest rate swaps with a notional value of [removed: $1.2] [added: $2.2] billion.

Excluding debt covered by hedges, each quarter-point increase or decrease in the interest rate on our variable rate debt would result in our interest expense changing by approximately [removed: $11] [added: $3.5] million per year.

[removed: Marketable Securities][added: Marketable Securities]

At December 31, [removed: 2019,] [added: 2020,] we held investments in marketable equity securities.

As of December 31, [removed: 2019,] [added: 2020,] the fair value of these investments was [removed: $62] [added: $88] million based on the quoted market value of the securities.

The potential loss in fair value resulting from a hypothetical decrease of 10% in quoted market values was approximately [removed: $6] [added: $9] million at December 31, [removed: 2019.][added: 2020.]

hedged caused by the currency exchange rate fluctuation.

[removed: Our Company][added: Our Company]

IQVIA is a leading global provider of advanced analytics, technology [removed: solutions] [added: solutions,] and [removed: contract] [added: clinical] research services to the life sciences industry.

With approximately [removed: 67,000] [added: 70,000] employees, we conduct operations in more than 100 countries.

We have one of the largest and most comprehensive collections of healthcare information in the world, which includes more than [removed: 800 million] [added: one billion] comprehensive, longitudinal, non-identified patient records spanning sales, prescription and promotional data, medical claims, electronic medical records, genomics, and social media.

Our scaled and growing information set contains [removed: over 35] [added: approximately 45] petabytes of proprietary data sourced from [removed: more than] [added: approximately] 150,000 data suppliers and covering over one million data feeds globally.

Based on this data, we deliver information and insights on over 85% of the world’s pharmaceuticals, as measured by [removed: 2018] [added: 2019] sales.

[removed: | | • | A leading healthcare-specific global IT infrastructure, representing what we believe is one of the largest and most sophisticated information technology (“IT”) infrastructures in healthcare.] We receive [removed: over 95] [added: approximately 100] billion healthcare records annually, and our infrastructure then connects complex healthcare data while applying a wide range of privacy, security, operational, legal and contractual protections for data in response to local law, supplier requirements and industry leading practices; [removed: |]

[removed: | | • | Analytics-driven] [added: - Analytics-driven] clinical development, which improves clinical trial design, site identification and patient recruitment by empowering therapeutic, scientific, and domain experts with expansive levels of information, including product level tracking in 90 markets, and information about treatments and outcomes on more than [removed: 800 million] [added: one billion] non-identified patients globally; [removed: |]

[removed: | | • | Robust] [added: - Robust] real world solutions ecosystem, with sophisticated retrospective database analytics, prospective real world data collection technology platforms and scientific expertise, which enables us to address critical healthcare issues of cost, value and patient outcomes; [removed: |]

[removed: | | • | A] [added: - A] growing set of proprietary clinical and commercial applications, which helps our clients increase their clinical operations performance, supports their regulatory and compliance needs and orchestrates their sales operations, sales management, [removed: multi-channel] [added: multi- channel] marketing and performance management; and [removed: |]

[removed: | | • | A] [added: - A] staff of approximately [removed: 67,000] [added: 70,000] employees across the globe, including over [removed: 23,000] [added: 24,000] Technology & Analytics Solutions employees, approximately [removed: 35,000] [added: 38,000] Research & Development Solutions employees and approximately [removed: 7,000] [added: 6,000] Contract Sales & Medical Solutions employees. [removed: |]

[removed: | | • | Integration] [added: - Integration] of information, analytics, technology, and domain expertise through [removed: the IQVIA CORE,] [added: Connected Intelligence,] which enables us to provide our clients with more effective options to address their needs from Research and Development through commercialization as well as truly innovative breakthroughs such as virtual trials and global real-world evidence networks. [removed: |]

We compete in a market of greater than [removed: $230] [added: $260] 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.

[removed: | | • | Outsourced research and development: Biopharmaceutical spending on drug development totaled over $100 billion in 2019.] Of that amount, we estimate that our addressable opportunity (clinical development spending excluding preclinical spending) was approximately [removed: $66] [added: $75] billion. [removed: The portion of this addressable opportunity that was outsourced in 2019, based on our estimates, was approximately $35 billion; |]

[removed: | | • | Real-World Evidence and connected health: Total addressable market of approximately $80 billion based on 2019 sales that consists of two relatively equal parts.] First, the market for Real-World Evidence of approximately $40 billion includes traditionally defined analytic platforms and implementation, medical and scientific analytic services, observation studies and market access. [removed: Second, the market for connected healthcare of approximately $40 billion includes areas such as revenue cycle management, payer analytics and clinical decision support services; and |]

[removed: | | • | Technology enabled commercial operations: Total addressable market of approximately $50 billion based on 2019 sales that includes information, data warehousing, IT outsourcing, software applications and other services in the broader market for IT services.] This addressable market also includes commercial services such as recruiting, training, deploying and managing global sales forces, channel management, patient engagement services, market access consulting, brand communication, advisory services, and health information analytics and technology consulting. [removed: |]

We believe there are six key trends affecting our end markets that will create increasing demand for research and development services, technology & analytics solutions and contract [added: sales] and medical solutions:

[added: Growth and innovation in the life sciences industry.] The life sciences industry is a large and critical part of the global healthcare system, and, according to the latest information available from the IQVIA Market Prognosis service, is estimated to have generated approximately [removed: $1.25] [added: $1.27] trillion in revenue in [removed: 2019.][added: 2020.]

According to our research, revenue growth in the life sciences industry globally is expected to range from 3% to 6% between [removed: 2020] [added: 2021] and [removed: 2024.][added: 2025.]

According to the IQVIA Institute, it is estimated that spending on pharmaceuticals in emerging markets will expand at a [removed: 5%] [added: 6%] to [removed: 8%] [added: 9%] compound annual growth rate (“CAGR”) through [removed: 2024.][added: 2025.]

[added: Growth in Research and Development.] Spending trends in research and development are impacted as a result of several factors, including major biopharmaceutical companies’ efforts to replenish revenues lost from the so-called “patent cliff,” increased access to capital by the small and midcap biotechnology industry, and recent increases in pharmaceutical approvals by regulatory authorities.

The IQVIA Institute also estimates that approximately 270 new molecular entities (“NMEs”) are expected to be approved between [removed: 2020] [added: 2021] and [removed: 2024,] [added: 2025,] compared to [removed: 236] [added: 234] between [removed: 2015] [added: 2016] and [removed: 2019,] [added: 2020,] and [removed: 200] [added: 220] between [removed: 2010] [added: 2011] and [removed: 2014.][added: 2015.]

[removed: We believe that further research] and development spending, combined with the continued need for cost efficiency across the healthcare landscape, will continue to create opportunities for biopharmaceutical services companies, particularly those with a global reach and broad service offerings, to help biopharmaceutical companies with their pre- and post-launch solutions development and commercialization needs.

For example, [removed: the IQVIA CORE] [added: Connected Intelligence] helps us validate protocols to ensure studies in new disease areas have greater accuracy and also enables us, through innovations such as predictive analytics, to find patients who may not have been diagnosed.

[added: Financial pressures driving the need for increased efficiency.] Despite expected accelerating growth in the global life sciences market, we believe our clients will face increased operating margin pressure due to their changing product mix, pricing and reimbursement challenges, and rising costs of compliance.

[added: Evolving need to integrate and structure expanding sources of data.] Over the past decade, many health systems around the world have focused on digitizing medical records.

[added: Need for demonstrated value in healthcare.] Participants in the healthcare industry are focused on improving quality and reducing costs, both of which require assessment of quality and value of therapies and providers.

[removed: Our] [added: Our] Growth [removed: Strategy][added: Strategy]

[added: Continue to innovate through our Connected Intelligence by leveraging our information, advanced analytics, transformative technology and significant domain expertise.] As a leader in the development and commercialization of new pharmaceutical therapies, we can empower our therapeutic, scientific and domain experts with expansive levels of information including product level tracking in 90 markets and information about treatments and outcomes on more than [removed: 800 million] [added: one billion] non-identified patients.

By [removed: integrating these capabilities in the IQVIA CORE,] [added: 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 virtual trials.

[added: Build upon our extensive client relationships and leverage our global presence.] We have a diversified base of over [removed: 8,000] [added: 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 [removed: $230] [added: $260] billion in [removed: 2019.][added: 2020.]

[added: Expand portfolio through strategic acquisitions.] We have and expect to continue to acquire assets and businesses that strengthen our value proposition to clients.

[added: 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.

[removed: Our Offerings][added: Our Offerings]

[removed: Our] [added: Our] Technology & Analytics Solutions offerings [removed: include:][added: include:]

[added: Technology platforms.] We provide an extensive range of cloud-based applications and associated implementation services.

Software as a Service (“SaaS”) solutions that support a wide range of clinical and commercial processes, including clinical trial design and planning, site start-up, patient consent, site payments, content management, multi-channel marketing, real-world evidence [removed: generation, customer relationship management (“CRM”), performance management, incentive compensation, territory alignment, roster management, call planning, compliance and safety reporting and master data management.]

[added: Real World Solutions.] We enable life sciences and provider customers to generate and disseminate evidence in a cost-efficient manner which informs health care decision making and ultimately improves patients’ outcomes.

Our use of a wide range of privacy and security safeguards protect non-identified patient-level medical claims, prescriptions, electronic medical records, genomics, [added: patient reported outcome and social media data.]

Our scaled information networks include more than [removed: 800 million] [added: one billion] non-identified patients globally.

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

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

We are a global leader in protecting individual patient privacy.

We use a wide variety of privacy-enhancing technologies and safeguards to protect individual privacy while generating and analyzing information on a scale that helps healthcare stakeholders identify disease patterns and correlate with the precise treatment path and therapy needed for better outcomes.

Our insights and execution capabilities help biotech, medical device and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders tap into a deeper understanding of diseases, human behaviors and scientific advances, in an effort to advance their path toward cures.

- A leading healthcare-specific global IT infrastructure, representing what we believe is one of the largest and most sophisticated information technology (“IT”) infrastructures in healthcare.

- Outsourced research and development: Biopharmaceutical spending on drug development totaled approximately $130 billion in 2020.

The portion of this addressable opportunity that was outsourced in 2020, based on our estimates, was approximately $36 billion;

- Real-World Evidence and connected health: Total addressable market of approximately $80 billion based on 2020 sales that consists of two relatively equal parts.

Second, the market for connected healthcare of approximately $40 billion includes areas such as revenue cycle management, payer analytics and clinical decision support services; and

- Technology enabled commercial operations: Total addressable market of approximately $50 billion based on 2020 sales that includes information, data warehousing, IT outsourcing, software applications and other services in the broader market for IT services.

We believe that further research

generation, customer relationship management (“CRM”), performance management, incentive compensation, territory alignment, roster management, call planning, compliance and safety reporting and master data management.

Information offerings.

Human Capital

Overview. Our approximately 70,000 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 provide value, no matter where they sit within the organization.

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

Employee Engagement. In 2020, we completed our second company-wide employee survey since the Merger between Quintiles and IMS Health in 2016.

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

In 2020, responses increased for this survey, and 81% of respondents indicated a favorable view of the Company's employee engagement, which was a 13 percentage point increase from our last company-wide employee survey in 2018, 4 points higher than the Fortune 500 benchmark and 5 points higher than the broader survey benchmark.

The survey results indicate the actions we have taken over the past two years have had a positive impact.

Other areas where we saw favorable scores were: Employees acquiring the knowledge and skills needed to be effective in their jobs (84%); employees feeling part of a team (84%); and employees who would recommend IQVIA as a great place to work (81%).

Protection and Support of our Employees During the COVID-19 Pandemic.

As a company, we did our best to support our employees, preserve employment and maintain base compensation throughout the year.

We accepted that our financial performance would be affected by the pandemic, but declined to make dramatic cuts that would impact the lives of our employees.

We also launched the IQVIA Cares program to provide over $1 million of financial assistance to approximately 2,200 employees facing financial hardship resulting from the crisis.

This program was entirely funded by our directors, senior leaders and other employees from around the world voluntarily forgoing a portion of their pay for a period of time.

We continued to build a strong supportive culture around values of mutual respect and pride in the important work we do.

This will endure far beyond the crisis.

The safety of employees, patients, healthcare professionals, customers and suppliers with whom we frequently interact was our highest priority as COVID-19 spread across the globe.

To limit exposure, we substantially restricted travel, supplied personal protective equipment to field-based employees, closed facilities and asked most of our staff to work remotely.

On short notice, we added bandwidth and VPN capacity to our advanced infrastructure to enable 95% of our employees at the peak of the pandemic to work remotely and avoid service disruptions.

At the same time, we continued to maintain and enhance our cybersecurity protections, which included completing the global roll-out of our core Endpoint Detection & Response solution to all workstations, thus protecting them from cyber threats regardless of location and network status (on or off VPN), and accelerating the deployment of an Advance Response tool to enable bulk remediation of vulnerabilities on remote workstations.

Diversity and Inclusion. Our commitment to diversity and inclusion is reflected in the various policies, programs, training and support we offer, including our Employee Resource Groups, manager diversity and inclusion training and our highly diverse global workforce.

Our global workforce operates in over 100 countries and represents approximately 80 different ethnicities.

Formed through the Merger of IMS Health and Quintiles, IQVIA applies human data science – leveraging the analytic rigor and clarity of data science to the ever-expanding scope of human science – to enable companies to reimagine and develop new approaches to clinical development and commercialization, speed innovation, and accelerate improvements in healthcare outcomes.

Powered by the IQVIA CORE, we deliver unique and actionable insights at the intersection of large scale analytics, transformative technology and extensive domain expertise as well as execution capabilities.

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Growth and innovation in the life sciences industry.

Growth in Research and Development.

Financial pressures driving the need for increased efficiency.

Evolving need to integrate and structure expanding sources of data.

Need for demonstrated value in healthcare.

Continue to innovate by leveraging our information, advanced analytics, transformative technology and significant domain expertise.

Build upon our extensive client relationships.

Expand portfolio through strategic acquisitions.

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

Technology platforms.

Real World Solutions.

patient reported outcome and social media data.

Analytics and consulting services.

Information offerings.

Project Management and Clinical Monitoring.

Clinical Trial Support Services.

Strategic Planning and Design.

Virtual Trials.

Health Care Provider Engagement Services.

Patient Engagement Services.

Our patient engagement services combine insight from clinical trials and social listening,

Medical Affairs Services.

regulatory authorities expect that study results and data submitted to such authorities be based on clinical trials conducted in accordance with GCP provisions.

Environmental Protection Agency, the Nuclear Regulatory Commission, the Department of Transportation, the National Fire Protection Agency and the United States Drug Enforcement Administration (“DEA”).

Our Employees

As of December 31, 2019, we have approximately 67,000 employees worldwide.

Almost all of these employees are full-time.

None of our employees are covered by a collective bargaining agreement or are represented by a labor union.

Employees in certain locations outside of the United States are represented by works councils as required by local laws.

[removed: UNITED STATES][added: UNITED STATES]

[removed: SECURITIES] [added: SECURITIES] AND EXCHANGE [removed: COMMISSION][added: COMMISSION]

[removed: Washington,] [added: Washington,] D.C. [removed: 20549][added: 20549]

[removed: FORM 10-K][added: FORM 10-K]

[removed: (Mark One)][added: (Mark One)]

[removed: |] ☒ [removed: |] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [removed: |]

[removed: For] [added: For] the fiscal year ended December 31, [removed: 2019][added: 2020]

[removed: |] ☐ [removed: |] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [removed: |]

[removed: For] [added: For] the transition period from to [removed: .][added: .]

[removed: Commission] [added: Commission] File Number: [removed: 001-35907][added: 001-35907]

[removed: IQVIA] [added: IQVIA] HOLDINGS [removed: INC.][added: INC.]

[removed: ][added: ]

[removed: (Exact] [added: (Exact] name of registrant as specified in its [removed: charter)][added: charter)]

| [removed: Delaware (State] [added: (State] or other jurisdiction of incorporation or [removed: organization)] [added: organization)] | | [removed: 27-1341991 (I.R.S.] [added: | | | | (I.R.S.] Employer Identification [removed: Number)] [added: Number)] | [added: | |]

[removed: 4820] [added: 4820] Emperor Blvd., Durham, North Carolina [removed: 27703][added: 27703]

[removed: and][added: and]

[removed: 83] [added: 83] Wooster Heights Road, Danbury, [removed: Connecticut] [added: Connecticut] 06810

[removed: (Address] [added: (Address] of principal executive offices and Zip [removed: Code)][added: Code)]

[removed: (919)] [added: (919)] 998-2000 and (203) [removed: 448-4600][added: 448-4600]

[removed: (Registrant’s] [added: (Registrant’s] telephone number, including area [removed: code)][added: code)]

[removed: Securities] [added: Securities] registered pursuant to Section 12(b) of the [removed: Act:][added: Act:]

| [removed: Title] [added: Title] of each [removed: class] [added: class] | | [removed: Trading Symbol(s)] | [added: Trading Symbol(s)] | [removed: Name] [added: | | Name] of each exchange on which [removed: registered] [added: registered] | [added: | |]

| [removed: Common] [added: Common] Stock, par value $0.01 per [removed: share] [added: share] | | [removed: IQV] | [added: IQV] | [removed: New] [added: | | New] York Stock [removed: Exchange] [added: Exchange] | [added: | |]

[removed: Securities] [added: Securities] registered pursuant to Section 12(g) of the Act: [removed: None][added: None]

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of [added: Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).]

| Large accelerated filer | [added: | |] ☒ | | | Accelerated filer | | | ☐ | [added: | |]

| Non-accelerated filer | [added: | |] ☐ | | | Smaller reporting company | | | ☐ | [added: | |]

| Emerging growth company | [added: | |] ☐ | | | | | | | [added: | |]

The aggregate market value of the voting and non-voting common stock held by non-affiliates of the registrant, based upon the closing sale price as reported on the New York Stock Exchange on June [removed: 28, 2019,] [added: 30, 2020,] the last business day of the registrant’s most recently completed second quarter, was approximately [removed: $28.6] [added: $26.3] billion.

As of February [removed: 7, 2020,] [added: 1, 2021,] there were approximately [removed: 192,339,093] [added: 191,281,286] shares of the registrant’s common stock outstanding.

Portions of the registrant’s Proxy Statement for the [removed: 2020] [added: 2021] Annual Meeting of Stockholders are incorporated herein by reference in Part III of this Annual Report on Form 10-K to the extent stated herein.

Such proxy statement will be filed with the Securities and Exchange Commission within 120 days of the registrant’s fiscal year ended December 31, [removed: 2019.][added: 2020.]

[removed: TABLE] [added: TABLE] OF [removed: CONTENTS][added: CONTENTS]

| [removed: Item] [added: Item] | | [removed: Page] | [added: | | | Page | | |]

[removed: | [PART I](#PART_I) | | |][added: PART I]

| 1A. | [added: | |] [Risk [removed: Factors](#ITEM_1A_RISK_FACTORS)] [added: Factors](#i3f72ae6eff524489b973dad9ca03b0ce_19)] | [removed: 13] | [added: | [13](#i3f72ae6eff524489b973dad9ca03b0ce_19) | | |]

| 1B. | [added: | |] [Unresolved Staff [removed: Comments](#ITEM_1B_UNRESOLVED_STAFF_COMMENTS)] [added: Comments](#i3f72ae6eff524489b973dad9ca03b0ce_22)] | [removed: 34] | [added: | [34](#i3f72ae6eff524489b973dad9ca03b0ce_22) | | |]

| 3. | [added: | |] [Legal [removed: Proceedings](#ITEM_3_LEGAL_PROCEEDINGS)] [added: Proceedings](#i3f72ae6eff524489b973dad9ca03b0ce_28)] | [removed: 35] | [added: | [35](#i3f72ae6eff524489b973dad9ca03b0ce_28) | | |]

| 4. | [added: | |] [Mine Safety [removed: Disclosures](#ITEM_4_MINE_SAFETY_DISCLOSURES)] [added: Disclosures](#i3f72ae6eff524489b973dad9ca03b0ce_31)] | [removed: 35] | [added: | [35](#i3f72ae6eff524489b973dad9ca03b0ce_31) | | |]

| [added: | | |] [PART [removed: II](#PART_II)] [added: I](#i3f72ae6eff524489b973dad9ca03b0ce_13)] | | [removed: 36] | [added: | | |]

or

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| Delaware | | | | | | 27-1341991 | | |

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Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.

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| 1. | | | [Business](#i3f72ae6eff524489b973dad9ca03b0ce_16) | | | [5](#i3f72ae6eff524489b973dad9ca03b0ce_16) | | |

| 2. | | | [Properties](#i3f72ae6eff524489b973dad9ca03b0ce_25) | | | [35](#i3f72ae6eff524489b973dad9ca03b0ce_25) | | |

However, we

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or

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Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

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| 1. | [Business](#ITEM_1_BUSINESS) | 5 |

| 2. | [Properties](#ITEM_2_PROPERTIES) | 35 |

As of December 31, [removed: 2019,] [added: 2020,] we had approximately [removed: 303] [added: 262] offices located in approximately 82 countries.

We believe that [added: collectively] our facilities are [added: suitable and] adequate for our [removed: operations and that suitable additional space will be available if needed.][added: present purposes.]

We continue to assess the impacts of COVID-19 on the suitability, adequacy, productive capacity and utilization of our existing principal physical properties, and we are in the process of evaluating the future state of our workforce practices, which may result in changes to our physical property needs.

Many of our leases have an option to renew, and we believe that we will be able to successfully renew expiring leases on terms satisfactory to us.

[removed: PART II][added: PART II]

Item 5.

Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Market Information for Common Stock

Our common stock trades on the NYSE under the symbol “IQV.”

Holders of Record

On February 1, 2021, we had approximately 25 stockholders of record as reported by our transfer agent.

Holders of record are defined as those stockholders whose shares are registered in their names in our stock records and do not include beneficial owners of common stock whose shares are held in the names of brokers, dealers or clearing agencies.

Dividend Policy

We do not currently intend to pay dividends on our common stock, and no dividends were declared or paid in 2020 or 2019.

However, we expect to reevaluate our dividend policy on a regular basis and may, subject to compliance with the covenants contained in our Senior Secured Credit Facilities and long-term debt arrangements and other considerations, determine to pay dividends in the future.

The declaration, amount and payment of any future dividends on shares of our common stock will be at the sole discretion of our Board, which may take into account general and economic conditions, our financial condition and results of operations, our available cash and current and anticipated cash needs, capital requirements, contractual, legal, tax and regulatory restrictions, the implications of the payment of dividends by us to our stockholders or by our subsidiaries to us, and any other factors that our Board may deem relevant.

Our long-term debt arrangements contain usual and customary restrictive covenants that, among other things, place limitations on our ability to declare dividends.

For additional information regarding these restrictive covenants, see Part II, Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources” and Note 10 to our audited consolidated financial statements included elsewhere in this Annual Report on Form 10-K.

Recent Sales of Unregistered Securities

We did not sell any unregistered equity securities in 2020.

Purchases of Equity Securities by the Issuer

On October 30, 2013, our Board of Directors (the “Board”) approved an equity repurchase program (the “Repurchase Program”) authorizing the repurchase of up to $125.0 million of either our common stock or vested in-the-money employee stock options, or a combination thereof.

Our Board increased the stock repurchase authorization under the Repurchase Program with respect to the repurchase of our common stock by $600 million, $1.5 billion, $2 billion, $1.5 billion, and $2.0 billion in 2015, 2016, 2017, 2018, and 2019, respectively, which increased the total amount that has been authorized under the Repurchase Program to $7.725 billion.

The Repurchase Program does not obligate us to repurchase any particular amount of common stock or vested in-the-money employee stock options, and it may be modified, extended, suspended or discontinued at any time.

The timing and amount of repurchases are determined by our management based on a variety of factors such as the market price of our common stock, our corporate requirements, and overall market conditions.

Purchases of our common stock may be made in open market transactions effected through a broker-dealer at prevailing market prices, in block trades, or in privately negotiated transactions.

The Repurchase Program for common stock does not have an expiration date.

In addition, from time to time, we have repurchased and may continue to repurchase common stock through private or other transactions outside of the Repurchase Program.

From inception of the Repurchase Program through December 31, 2020, we have repurchased a total of $6.4 billion of our securities under the Repurchase Program.

During the year ended December 31, 2020, we repurchased 2,718,447 shares of our common stock for approximately $423.1 million under the Repurchase Program.

These amounts include 1,000,000 shares of our common stock repurchased from certain Selling Stockholders in a private transaction for an aggregate purchase price of approximately $164.3 million.

For additional information regarding our equity repurchases, see Part II, Item 7 “Management’s Discussion and Analysis of Financial Condition and

Results of Operations—Liquidity and Capital Resources” and Note 13 to our audited consolidated financial statements included elsewhere in this Annual Report on Form 10-K.

As of December 31, 2020, we had remaining authorization to repurchase up to $0.9 billion of our common stock under the Repurchase Program.

Since the Merger between Quintiles and IMS health, we have repurchased 65.6 million shares of our common stock at an average market price per share of $97.29 for an aggregate purchase price of $6.4 billion both under and outside of the Repurchase Program.

This includes shares withheld from employees to satisfy certain tax obligations due in connection with grants of stock under the Quintiles IMS Holdings, Inc. 2017 Incentive and Stock Award Plan (the “Plan”).

The Plan provides for the withholding of shares to satisfy tax obligations.

It does not specify a maximum number of shares that can be withheld for this purpose.

The shares of common stock withheld to satisfy tax withholding obligations may be deemed to be “issuer purchases” of shares that are required to be disclosed pursuant to this Item.

The following table summarizes the monthly equity repurchase activity for the three months ended December 31, 2020 and the approximate dollar value of shares that may yet be purchased pursuant to the Repurchase Program.

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| Period | | | | | | Total Number of Shares Purchased | | | | | | Average Price Paid per Share | | | | | | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | | | | | | Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs | | |

| | | | | | | (in millions, except per share data) | | | | | | | | | | | | | | | | | | | | |

| October 1, 2020 – October 31, 2020 | | | | | | 0.1 | | | | | | $ | 156.83 | | | | | 0.1 | | | | | | $ | 999 | |

| November 1, 2020 – November 30, 2020 | | | | | | 0.0 | | | | | | $ | — | | | | | 0.0 | | | | | | $ | 999 | |

We have derived the following consolidated statements of income data [added: and cash flows] for [removed: 2019, 2018] [added: 2020, 2019] and [removed: 2017] [added: 2018] and consolidated balance sheet data as of December 31, [removed: 2019] [added: 2020] and [removed: 2018] [added: 2019] from our audited consolidated financial statements included elsewhere in this Annual Report on Form 10-K.

We have derived the following consolidated statements of income data for [removed: 2016] [added: 2017] and [removed: 2015] [added: 2016] and consolidated balance sheet data as of December 31, [removed: 2017, 2016] [added: 2018, 2017] and [removed: 2015] [added: 2016] from our audited consolidated financial statements not included in this Annual Report on Form 10-K.

| | | [removed: Year] [added: | | | | | | | Year] Ended December [removed: 31,] [added: 31,] | | | | | | | | | | | | | | | | | | | [added: | | | | | | | |]

| [removed: (in] [added: (in] millions, except per share [removed: data)] [added: data)] | | [removed: 2019] | | | | [removed: 2018] [added: 2020] | | | [added: 2019] | [removed: 2017(4)] | | | | [removed: 2016(4)(5)] | [added: 2018] | | | [removed: 2015] | | | [added: 2017(4) | | | | | | 2016(4)(5) | | | | | | | | |]

| [removed: Statement] [added: Statement] of Income [removed: Data:] [added: Data:] | | | | | | | | | | | | | | | | | | | | | [added: | | | | | | | | | | | | | | |]

| Revenues | | [added: | | | | $ | 11,359 | |] $ | 11,088 | | | [added: | |] $ | 10,412 | | | [added: | |] $ | 9,702 | | | [added: | |] $ | 6,815 | | | [removed: $] | [removed: 5,737] | | [added: | |]

| Costs of revenue, exclusive of depreciation and amortization | | | [added: | | | 7,500 | | |] 7,300 | | | | [added: | |] 6,746 | | | | [added: | |] 6,301 | | | | [added: | |] 4,748 | | | | [removed: 4,116] | | [added: | | |]

| Selling, general and administrative expenses | | | [added: | | | 1,789 | | |] 1,734 | | | | [added: | |] 1,716 | | | | [added: | |] 1,622 | | | | [added: | |] 1,016 | | | | [removed: 815] | | [added: | | |]

| Depreciation and amortization | | | [added: | | | 1,287 | | |] 1,202 | | | | [added: | |] 1,141 | | | | [added: | |] 1,011 | | | | [added: | |] 289 | | | | [removed: 128] | | [added: | | |]

| Impairment charges(1) | | | [added: | | | — | | |] — | | | | [added: | |] — | | | | [added: | |] 40 | | | | [added: | |] 28 | | | | [removed: 2] | | [added: | | |]

| Restructuring costs | | | [added: | | | 52 | | |] 75 | | | | [added: | |] 68 | | | | [added: | |] 63 | | | | [added: | |] 71 | | | | [removed: 30] | | [added: | | |]

| Merger related costs(2) | | | [added: | | | — | | |] — | | | | [added: | |] — | | | | [added: | |] — | | | | [added: | |] 87 | | | | [removed: —] | | [added: | | |]

| Income from operations | | | [removed: 777] | | | [added: 731] | [removed: 741] | | [added: 777] | | [removed: 665] | | | | [removed: 576] [added: 741] | | | | [removed: 646] | | [added: 665 | | | | | | 576 | | | | | | | | |]

| Interest expense, net | | | [added: | | | 410 | | |] 438 | | | | [added: | |] 406 | | | | [added: | |] 339 | | | | [added: | |] 140 | | | | [removed: 97] | | [added: | | |]

| Loss on extinguishment of debt | | | [added: | | | 13 | | |] 24 | | | | [added: | |] 2 | | | | [added: | |] 19 | | | | [added: | |] 31 | | | | [removed: 8] | | [added: | | |]

| Other expense (income), net | | | [removed: (37] | [removed: )] | | [added: (65)] | [added: | | (37) | | | | | |] 5 | | | | [added: | |] 13 | | | | [removed: (11] | [removed: )] | [added: (11)] | | [removed: 2] | | [added: | | | | |]

| Income before income taxes and equity in earnings (losses) of unconsolidated affiliates | | | [removed: 352] | | | [added: 373] | [removed: 328] | | [added: 352] | | [removed: 294] | | | | [removed: 416] [added: 328] | | | | [removed: 539] | | [added: 294 | | | | | | 416 | | | | | | | | |]

| Income tax expense (benefit)(3) | | | [added: | | | 72 | | |] 116 | | | | [added: | |] 59 | | | | [removed: (992] | [removed: )] | [added: (992)] | | [added: | | | |] 325 | | | | [removed: 159] | | [added: | | |]

| Income before equity in earnings (losses) of unconsolidated affiliates | | | [removed: 236] | | | [added: 301] | [removed: 269] | | [added: 236] | | [removed: 1,286] | | | | [removed: 91] [added: 269] | | | | [removed: 380] | | [added: 1,286 | | | | | | 91 | | | | | | | | |]

| Equity in earnings (losses) of unconsolidated affiliates | | | [removed: (9] | [removed: )] | | [added: 7] | [added: | | (9) | | | | | |] 15 | | | | [added: | |] 10 | | | | [removed: (4] | [removed: )] | [added: (4)] | | [removed: 8] | | [added: | | | | |]

| Net income | | | [removed: 227] | | | [added: 308] | [removed: 284] | | [added: 227] | | [removed: 1,296] | | | | [removed: 87] [added: 284] | | | | [removed: 388] | | [added: 1,296 | | | | | | 87 | | | | | | | | |]

| Net income attributable to non-controlling interests | | | [removed: (36] | [removed: )] | | [added: (29)] | [removed: (25] | [removed: )] | [added: (36)] | | [removed: (19] | [removed: )] | | | [removed: (15] [added: (25)] | [removed: )] | | | [removed: (1] | [removed: )] | [added: (19) | | | | | | (15) | | | | | | | | |]

| Net income attributable to IQVIA Holdings Inc. | | [removed: $] | [removed: 191] | | | [removed: $] [added: 279] | [removed: 259] | | [added: 191] | [removed: $] | [removed: 1,277] | | | [removed: $] | [removed: 72] [added: 259] | | | [removed: $] | [removed: 387] | | [added: 1,277 | | | | | | 72 | | | | | | | | |]

| | | [removed: Year] [added: | | | | | | | | | | Year] Ended December [removed: 31,] [added: 31,] | | | | | | | | | | | | | | | | | | | [added: | | | | | | | |]

| [removed: (in] [added: (in] millions, except per share [removed: data)] [added: data)] | | [removed: 2019] | | | | [removed: 2018] [added: 2020] | | | | [removed: 2017(4)] | | [added: 2019] | | [removed: 2016(4)(5)] | | | | [removed: 2015] [added: 2018] | | | [added: | | | 2017(4) | | | | | | 2016(4)(5) | | | | | | | | |]

| Earnings per share attributable to common stockholders: | | | | | | | | | | | | | | | | | | | | | [added: | | | | | | | | | | | | | | | | | |]

| Basic | | [added: | | | | $ | 1.46 | | | | |] $ | 0.98 | | | [added: | |] $ | 1.27 | | | [added: | |] $ | 5.86 | | | [added: | |] $ | 0.48 | | | [removed: $] | [removed: 3.15] | | [added: | |]

| Diluted | | [added: | | | | $ | 1.43 | | | | |] $ | 0.96 | | | [added: | |] $ | 1.24 | | | [added: | |] $ | 5.74 | | | [added: | |] $ | 0.47 | | | [removed: $] | [removed: 3.08] | | [added: | |]

| Weighted average common shares outstanding: | | | | | | | | | | | | | | | | | | | | | [added: | | | | | | | | | | | | | | | | | |]

| Basic | | | [added: | | | 191.3 | | | | | |] 195.1 | | | | [added: | |] 203.7 | | | | [added: | |] 217.8 | | | | [added: | |] 149.1 | | | | [removed: 123.0] | | [added: | | |]

| Diluted | | | [added: | | | 195.0 | | | | | |] 199.6 | | | | [added: | |] 208.2 | | | | [added: | |] 222.6 | | | | [added: | |] 152.0 | | | | [removed: 125.6] | | [added: | | |]

| [removed: (in millions)] [added: (in millions)] | | [removed: 2019] | | | | [removed: 2018] [added: 2020] | | | | [removed: 2017(4)] | | [added: 2019] | | [removed: 2016(4)(5)] | | | | [removed: 2015] [added: 2018] | | | [added: | | | 2017(4) | | | | | | 2016(4)(5) | | | | | | | | |]

| [removed: Statement] [added: Statement] of Cash Flow [removed: Data:] [added: Data:] | | | | | | | | | | | | | | | | | | | | | [added: | | | | | | | | | | | | | | | | | |]

| Net cash provided by (used in): | | | | | | | | | | | | | | | | | | | | | [added: | | | | | | | | | | | | | | | | | |]

| Operating activities | | [added: | | | | $ | 1,959 | | | | |] $ | 1,417 | | | [added: | |] $ | 1,254 | | | [added: | |] $ | 970 | | | [added: | |] $ | 860 | | | [removed: $] | [removed: 476] | | [added: | |]

| Investing activities | | | [removed: (1,190] | [removed: )] | | [added: (796)] | [removed: (810] | [removed: )] | | | [removed: (1,190] | [removed: )] [added: (1,190)] | | | [added: | | | (810) | | | | | | (1,190) | | | | | |] 1,731 | | | | [removed: (67] | [removed: )] | [added: | | |]

| Financing activities | | | [removed: (276] | [removed: )] | | [added: (217)] | [removed: (452] | [removed: )] | | | [removed: (72] | [removed: )] [added: (276)] | | | [removed: (2,284] | [removed: )] | | [added: (452)] | [removed: (249] | [removed: )] | [added: | | | (72) | | | | | | (2,284) | | | | | | | | |]

| [removed: Other] [added: Other] Financial [removed: Data:] [added: Data:] | | | | | | | | | | | | | | | | | | | | | [added: | | | | | | | | | | | | | | | | | |]

| Capital expenditures | | [removed: $] | [removed: (582] | [removed: )] | | [added: $ | (616) | | | | |] $ | [removed: (459] [added: (582)] | [removed: )] | | [added: | |] $ | [removed: (369] [added: (459)] | [removed: )] | | [added: | |] $ | [removed: (164] [added: (369)] | [removed: )] | | [added: | |] $ | [removed: (78] [added: (164)] | [removed: )] | [added: | | | | | |]

| | | [removed: As] [added: | | | | | | | | | | As] of December [removed: 31,] [added: 31,] | | | | | | | | | | | | | | | | | | | [added: | | | | | | | |]

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| | | | | | | | | | | | | As of December 31, | | | | | | | | | | | | | | | | | | | | | | | | | | |

In 2016, we recognized $28 million of impairment losses for declines in fair value of goodwill ($23 million) and identifiable intangible assets ($5 million) in Encore.

In 2015, we wrote down $2 million related to long-lived assets.

(3) Income Tax expense in 2020 includes a tax benefit of $26 million related to our election for the GILTI high tax exception.

Income tax expense in 2019 includes a reversal of $25 million related to a reversal of an FDII benefit in 2018 due to proposed regulations being issued in 2019.

Income tax expense in 2018 includes $(35) million related to finalization of SAB 118 and the impacts of GILTI and FDII.

Income tax expense in 2017 includes $(966) million related to the enactment of the Tax Act and $(261) million related to purchase accounting amortization as a result of the Merger.

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| | | Year Ended December 31, | | | | | | | | | | | | | | | | | | |

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[removed: MANAGEMENT’S] [added: MANAGEMENT’S] REPORT ON INTERNAL CONTROL OVER FINANCIAL [removed: REPORTING][added: REPORTING]

Management assessed the effectiveness of the Company’s internal control over financial reporting as of December 31, [removed: 2019.][added: 2020.]

As a result of this assessment and based on the criteria in the COSO framework, management has concluded that, as of December 31, [removed: 2019,] [added: 2020,] the Company’s internal control over financial reporting was effective.

The effectiveness of the Company’s internal control over financial reporting as of December 31, [removed: 2019] [added: 2020] has been audited by PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in their report which appears herein.

| [removed: Ari Bousbib Chairman, Chief Executive Officer] [added: *Chairman] and [removed: President (Principal] [added: Chief] Executive [removed: Officer*)*] [added: Officer*] | | [removed: Michael R. McDonnell Executive] [added: | | | | *Executive] Vice President and Chief Financial [removed: Officer (Principal Financial Officer)] [added: Officer*] | [added: | |]

[removed: REPORT] [added: REPORT] OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING [removed: FIRM][added: FIRM]

[removed: Opinions] [added: Opinions] on the Financial Statements and Internal Control over Financial [removed: Reporting][added: Reporting]

We have audited the accompanying consolidated balance sheets of IQVIA Holdings Inc. and its subsidiaries (the “Company”) as of December 31, [removed: 2019] [added: 2020] and [removed: 2018,] [added: 2019,] and the related consolidated statements of income, comprehensive [removed: (loss) income,] [added: income (loss),] stockholders’ equity [removed: (deficit)] and cash flows for each of the three years in the period ended December 31, [removed: 2019,] [added: 2020,] including the related notes and financial statement schedules listed in the index appearing under Item 15(a)(2) (collectively referred to as the “consolidated financial statements”).

We also have audited the Company's internal control over financial reporting as of December 31, [removed: 2019,] [added: 2020,] based on criteria established in [removed: *Internal] [added: Internal] Control - Integrated [removed: Framework*] [added: Framework] (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, [removed: 2019] [added: 2020] and [removed: 2018,] [added: 2019,] and the results of its operations and its cash flows for each of the three years in the period ended December 31, [removed: 2019] [added: 2020] in conformity with accounting principles generally accepted in the United States of America.

Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, [removed: 2019,] [added: 2020,] based on criteria established in [removed: *Internal] [added: Internal] Control - Integrated [removed: Framework*] [added: Framework] (2013) issued by the COSO.

[removed: Change] [added: *Change] in Accounting [removed: Principle][added: Principle*]

[removed: Basis] [added: Basis] for [removed: Opinions][added: Opinions]

[removed: Definition] [added: Definition] and Limitations of Internal Control over Financial [removed: Reporting][added: Reporting]

A company’s internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in [removed: accordance with authorizations of management and directors of the company; and (iii) provide reasonable assurance regarding]

[added: accordance with authorizations of management and directors of the company; and (iii) provide reasonable assurance regarding] prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

[removed: Critical] [added: Critical] Audit [removed: Matters][added: Matters]

As described in Notes 1 and 20 to the consolidated financial statements, revenue of the Research & Development Solutions segment for the year ended December 31, [removed: 2019,] [added: 2020,] is [removed: $5,788] [added: $5,760] million, the majority of which relates to service contracts for clinical research that represent a single performance obligation.

The principal considerations for our determination that performing procedures relating to revenue recognition - estimating measure of progress for clinical research services [removed: -] is a critical audit matter are the high degree of auditor judgment, subjectivity, and effort in performing audit procedures and evaluating audit evidence related to the cost estimates made by management, due to significant judgment by management when determining the total expected costs to complete its contracts, specifically the estimation of direct labor and third-party costs.

[removed: IQVIA] [added: IQVIA] HOLDINGS INC. AND [removed: SUBSIDIARIES][added: SUBSIDIARIES]

[removed: CONSOLIDATED] [added: CONSOLIDATED] STATEMENTS OF [removed: INCOME][added: INCOME]

| | | [removed: Year] [added: | | | | Year] Ended December [removed: 31,] [added: 31,] | | | | | | | | | | | [added: | | | |]

| [removed: (in] [added: (in] millions, except per share [removed: data)] [added: data)] | | [removed: 2019] | | | | [removed: 2018] [added: 2020] | | | | [removed: 2017] | | [added: 2019] | [added: | | | | | 2018 | | |]

| Revenues | | [removed: $] | [removed: 11,088] | | | [added: $ | 11,359 | | | | |] $ | [removed: 10,412] [added: 11,088] | | | [added: | |] $ | [removed: 9,702] [added: 10,412] | |

| Costs of revenue, exclusive of depreciation and amortization | | | [removed: 7,300] | | | [added: 7,500] | [removed: 6,746] | | | | [removed: 6,301] | [added: 7,300] | [added: | | | | | 6,746 | | |]

| Selling, general and administrative expenses | | | [removed: 1,734] | | | [added: 1,789] | [removed: 1,716] | | | | [removed: 1,622] | [added: 1,734] | [added: | | | | | 1,716 | | |]

| Depreciation and amortization | | | [removed: 1,202] | | | [added: 1,287] | [removed: 1,141] | | | | [removed: 1,011] | [added: 1,202] | [added: | | | | | 1,141 | | |]

| Restructuring costs | | | [removed: 75] | | | [added: 52] | [removed: 68] | | | | [removed: 63] | [added: 75] | [added: | | | | | 68 | | |]

| Income from operations | | | [removed: 777] | | | [added: 731] | [removed: 741] | | | | [removed: 665] | [added: 777] | [added: | | | | | 741 | | |]

| Interest income | | | [removed: (9] | [removed: )] | | [added: (6)] | [removed: (8] | [removed: )] | | | [removed: (7] | [removed: )] [added: (9)] | [added: | | | | | (8) | | |]

| Interest expense | | | [removed: 447] | | | [added: 416] | [removed: 414] | | | | [removed: 346] | [added: 447] | [added: | | | | | 414 | | |]

| Loss on extinguishment of debt | | | [removed: 24] | | | [added: 13] | [removed: 2] | | | | [removed: 19] | [added: 24] | [added: | | | | | 2 | | |]

| Other (income) expense, net | | | [removed: (37] | [removed: )] | | [added: (65)] | [removed: 5] | | | | [removed: 13] | [added: (37)] | [added: | | | | | 5 | | |]

| Income before income taxes and equity in earnings of unconsolidated affiliates | | | [removed: 352] | | | [added: 373] | [removed: 328] | | | | [removed: 294] | [added: 352] | [added: | | | | | 328 | | |]

| Income tax expense [removed: (benefit)] | | | [removed: 116] | | | [added: 72] | [removed: 59] | | | | [removed: (992] | [removed: )] [added: 116] | [added: | | | | | 59 | | |]

| Income before equity in earnings (losses) of unconsolidated affiliates | | | [removed: 236] | | | [added: 301] | [removed: 269] | | | | [removed: 1,286] | [added: 236] | [added: | | | | | 269 | | |]

| Equity in [removed: (losses)] earnings [added: (losses)] of unconsolidated affiliates | | | [removed: (9] | [removed: )] | | [added: 7] | [removed: 15] | | | | [removed: 10] | [added: (9)] | [added: | | | | | 15 | | |]

| Net income | | | [removed: 227] | | | [added: 308] | [removed: 284] | | | | [removed: 1,296] | [added: 227] | [added: | | | | | 284 | | |]

| Net income attributable to non-controlling interests | | | [removed: (36] | [removed: )] | | [added: (29)] | [removed: (25] | [removed: )] | | | [removed: (19] | [removed: )] [added: (36)] | [added: | | | | | (25) | | |]

| Net income attributable to IQVIA Holdings Inc. | | [removed: $] | [removed: 191] | | | [removed: $] [added: 279] | [removed: 259] | | | [removed: $] | [removed: 1,277] | [added: 191] | [added: | | | | | 259 | | |]

| /s/ Ari Bousbib | | | | | | /s/ Ronald E. Bruehlman | | |

| Ari Bousbib | | | | | | Ronald E. Bruehlman | | |

| (Principal Executive Officer*)* | | | | | | (Principal Financial Officer) | | |

February 12, 2021

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| Distributions to non-controlling interests, net | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (13) | | | | | | (13) | | |

| Reclassification adjustments, net of tax | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 10 | | | | | | — | | | | | | 10 | | |

| Balance, December 31, 2020 | | | 254.7 | | | | | | (63.5) | | | | | | $ | 3 | | | | | $ | 11,092 | | | | | $ | 1,277 | | | | | $ | (6,166) | | | | | $ | (205) | | | | | $ | 279 | | | | | $ | 6,280 | |

1.

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

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

IQVIA is a global leader in protecting individual patient privacy.

The company uses a wide variety of privacy-enhancing technologies and safeguards to protect individual privacy while generating and analyzing information on a scale that helps healthcare stakeholders identify disease patterns and correlate with the precise treatment path and therapy needed for better outcomes.

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assumptions related to these estimates.

Changes in the distribution of profits and losses

The Company determines if an arrangement is a lease at inception and reassesses if there are changes in terms and conditions of the contract.

On January 1, 2019, the Company adopted ASC 842 using the modified retrospective transition method as of the beginning of the period of adoption.

Therefore, on January 1, 2019, the Company recognized and measured leases without revising the historical comparative period information or disclosures.

Under the treasury stock method, the amount the employee must pay for

This is based on factors including the Company's assessment of historical losses, client's creditworthiness and the fact that the Company's trade receivables are short term in duration.

In March 2020, the FASB issued new accounting guidance that provides optional expedients and exceptions for applying U.S. GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another rate that is expected to be discontinued.

2.

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| /s/ Ari Bousbib | | /s/ Michael R. McDonnell |

February 18, 2020

February 18, 2020

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| Impairment charges | | | — | | | | — | | | | 40 | |

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| Amortization of accumulated other comprehensive loss on terminated interest rate swaps | | | — | | | | — | | | | 3 | |

| Disposition of business, net of cash disposed | | | — | | | | — | | | | 12 | |

| Principal payments on capital lease obligations | | | — | | | | — | | | | (2 | ) |

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| Balance, December 31, 2016 | | | 248.3 | | | | (12.9 | ) | | | 2 | | | | 10,600 | | | | (484 | ) | | | (1,000 | ) | | | (564 | ) | | | 227 | | | | 8,781 | |

| Repurchase and retirement of common stock | | | (2.5 | ) | | | — | | | | — | | | | — | | | | (255 | ) | | | — | | | | — | | | | — | | | | (255 | ) |

| Net income | | | — | | | | — | | | | — | | | | — | | | | 1,277 | | | | — | | | | — | | | | 19 | | | | 1,296 | |

1.

IQVIA applies human data science – leveraging the analytic rigor and clarity of data science to the ever-expanding scope of human science – to enable companies to reimagine and develop new approaches to clinical development and commercialization, speed innovation, and accelerate improvements in healthcare outcomes.

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The Company determines if an arrangement is a lease at inception.

In February 2018, the FASB issued new accounting guidance that will allow a reclassification from accumulated other comprehensive income to retained earnings for “stranded income tax effects” resulting from the Tax Act.

Because the income statement impact related to the reduction of the historical corporate income tax rate under the Tax Act is required to be included in income tax expense, the guidance acknowledges that the income tax effects of items within accumulated other comprehensive income (“stranded income tax effects”) do not reflect the appropriate income tax rate.

The Company elected the option to not reclassify accumulated other comprehensive income to retained earnings for “stranded income tax effects” resulting from the Tax Act.

In August 2017, the FASB issued new accounting guidance that will allow more financial and nonfinancial hedging strategies to be eligible for hedge accounting.

It also amends the presentation and disclosure requirements and changes how companies assess hedge effectiveness.

It is intended to more closely align hedge accounting with risk management strategies, simplify the application of hedge accounting, and increase transparency as to the scope and results of hedging programs.

In February 2016, the FASB issued new accounting guidance that requires lessees to recognize almost all leases on their balance sheet as a right-of-use asset and a lease liability.

The income statement will reflect lease expense for operating leases, and amortization and interest expense for financing leases.

The Company adopted this new accounting guidance on January 1, 2019 and elected the practical expedients upon transition that retained the lease classification, initial direct costs and determination of whether contracts are or contain a lease, for any leases that existed prior to adoption of the new guidance.

The Company also elected the transition method which allows for disclosures to be updated prospectively and prior periods to be presented in accordance with previous guidance.

The adoption of this standard had a material impact on the Company’s condensed consolidated balance sheets but did not have a material impact on the Company’s condensed consolidated results of operations or cash flows.

Early adoption is permitted.

The new accounting guidance will be effective for the Company on January 1, 2020.

However, the impact of the new accounting guidance will depend on the performance of the reporting units and the market conditions at the time of adoption.

The standard

The standard will be effective for the Company on January 1, 2020.

2.

Based upon our evaluation, our CEO and CFO concluded that our disclosure controls and procedures were effective to provide reasonable assurance that information required to be disclosed by us in the reports that we file or submit under the Exchange Act, as amended, is recorded, processed, summarized and reported within the time periods specified in the [removed: applicable rules and forms, and that it is accumulated and communicated to our management, including our CEO and CFO, as appropriate, to allow timely decisions regarding required disclosure.]

There were no changes in our internal control over financial reporting during the quarter ended December 31, [removed: 2019] [added: 2020] that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

applicable rules and forms, and that it is accumulated and communicated to our management, including our CEO and CFO, as appropriate, to allow timely decisions regarding required disclosure.

[removed: PART III][added: PART III]

Information required by this Item, other than the information regarding the executive officers of the Company set forth below, is incorporated by reference to the sections of our definitive Proxy Statement for our [removed: 2020] [added: 2021] Annual Meeting of Stockholders (the [removed: “2020] [added: “2021] Proxy Statement”) entitled “Proposal No. 1: Election of Directors”, “IQVIA’s Corporate Governance—Documents Establishing our Corporate Governance” and “IQVIA’s Corporate Governance—Committees of the Board.”

| [removed: Name] [added: Name] | [removed: Age] | [removed: Position] | [added: | | | Age | | | | | | Position | | |]

| Ari Bousbib | [removed: 58] | [removed: Chairman,] [added: | | | | 59 | | | | | | Chairman and] Chief Executive [removed: Officer, and President] [added: Officer] | [added: | |]

[removed: | Michael R. McDonnell | 56 |] [added: Bruehlman,] Executive Vice President and Chief Financial [removed: Officer |][added: Officer]

| W. Richard Staub, III | [removed: 57] | [added: | | | | 58 | | | | | |] President, Research & Development Solutions | [added: | |]

| Kevin C. Knightly | [removed: 59] | [added: | | | | 60 | | | | | |] President, [removed: Information &] Technology [added: & Commercial] Solutions | [added: | |]

| Eric Sherbet | [removed: 55] | [added: | | | | 56 | | | | | |] Executive Vice President, General Counsel and Secretary | [added: | |]

[removed: Ari] [added: Ari] Bousbib, Director, [removed: Chairman,] [added: Chairman and] Chief Executive [removed: Officer and President][added: Officer]

Mr. Bousbib is [removed: Chairman,] [added: Chairman and] Chief Executive Officer [removed: and President] of the Company.

[removed: McDonnell,] [added: | Ronald E. Bruehlman | | | | | | 60 | | | | | |] Executive Vice President and Chief Financial Officer [added: | | |]

Mr. [removed: McDonnell has served] [added: Bruehlman was appointed] as Executive Vice President and Chief Financial Officer [removed: since December 2015.][added: effective August 1, 2020.]

Mr. [removed: McDonnell] [added: Bruehlman] has a Bachelor of Science degree in [removed: accounting] [added: Economics] from [removed: Georgetown] [added: the] University [added: of Delaware,] and [removed: is a certified public accountant.][added: an M.B.A. from the University of Chicago.]

Richard Staub, III, President, Research & Development [removed: Solutions][added: Solutions]

Mr. Staub has served as President, Research & Development Solutions since [removed: December] [added: November] 2016.

Knightly, President, [removed: Information &] Technology [added: & Commercial] Solutions