Insulet to Assume Distribution and Commercial Support for Its Omnipod® System in Europe
Insulet Corporation (NASDAQ: PODD) (Insulet or the Company), the leader in tubeless insulin pump technology with its Omnipod® Insulin Management System (Omnipod System), today announced plans to assume, on July 1, 2018, the distribution, sales, marketing, training and support activities of Insulet’s Omnipod System across Europe following the expiration of the Company’s global distribution agreement with Ypsomed AG (Ypsomed) on June 30, 2018.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170720006257/en/
Insulet develops, manufactures and distributes the Omnipod System, the market-leading tubeless insulin management system, currently used by over 110,000 people living with diabetes worldwide. Since 2010, the Company has had an exclusive contract with Ypsomed to distribute Insulet’s Omnipod System across Europe and in other markets outside the U.S. as part of Ypsomed’s mylife™ product portfolio. Insulet has direct commercial operations in the U.S. and Canada and over the past 12 years has supported significant growth and delivered highly-rated support to customers across North America. The Company is expanding its European presence to support the growing number of Omnipod customers and ensure its innovative product pipeline is specifically tailored to the European market.
“We are deeply committed to providing our Omnipod customers with the highest level of service and are confident our high-quality team has the skills and experience to assume direct distribution and commercial support in Europe,” said Patrick Sullivan, Insulet’s Chairman and Chief Executive Officer. “In addition, we expect this to further strengthen our financial position, as part of our multi-pronged approach to accelerate revenue growth and drive margin expansion.”
“We are excited to establish a direct local presence in Europe. This will allow us to be closer to the diabetes community, deepen our understanding of European customer needs, and further incorporate these into our innovation pipeline,” said Shacey Petrovic, Insulet’s President and Chief Operating Officer. “This is a natural step forward for Insulet, as we continue to expand access to Omnipod to benefit more people living with insulin-dependent diabetes around the world. We look forward to building on our existing relationships and developing new ones within the European diabetes community.”
Insulet is committed to working closely with Ypsomed to ensure continuity of care for Omnipod System users. Until the expiration of the existing agreement, Ypsomed will remain the distributor of mylife OmniPod in Europe. Starting July 1, 2018, Insulet will directly market its product in Europe under the global brand name Omnipod. The transition to direct distribution will not result in a change to the Omnipod System, which will continue to offer users the freedom to live uniquely untethered from traditional pump tubing and to avoid the burden of multiple daily injections.
The Company does not expect this change to have a material impact on its previously provided 2017 financial guidance. Excluding any one-time costs, once direct European operations are established, the Company anticipates this will be accretive to earnings, and continues to expect to be EBIT positive in 2018.
About the Omnipod Insulin Management System:
The Omnipod Insulin Management System is an innovative continuous insulin delivery system that provides all the proven benefits of continuous subcutaneous insulin infusion (CSII) therapy in a way no conventional insulin pump can. The Omnipod System's innovative design and features allows people living with diabetes to live their life—and manage their diabetes—with unprecedented freedom, comfort, convenience, and ease. The Omnipod System consists of two components: (i) a Pod that stores and delivers insulin; and (ii) a Personal Diabetes Manager (PDM) that wirelessly programs the user's personalized insulin delivery, calculates suggested doses and insulin on board, and has a convenient, built-in blood glucose meter. The small, light-weight Pod can be worn in multiple locations, including the abdomen, hip, back of upper arm, upper thigh or lower back and, because it is waterproof (IPX8), there is no need to remove when showering, swimming or performing other activities. This means that Omnipod can provide up to three days of non-stop insulin delivery, without the need to disconnect a tube set or manually inject insulin. The Pod and PDM communicate wirelessly to offer precise, personalized and continuous insulin delivery with customizable basal and bolus delivery options, as well as important safety checks. The Pod's auto-cannula insertion is quick, simple, and virtually pain-free. Users never have to handle a needle. The user simply pushes a button on the PDM and the Pod's automated insertion system inserts the cannula beneath the skin and begins delivering insulin according to the user's programmed basal rate.
The Omnipod System is the world's first commercially available tubeless insulin delivery system that allows users to live untethered by tubing and without the stress and anxiety of multiple daily injections. By breaking down the barriers to insulin pump therapy, the Omnipod System offers freedom for users to live life on their own terms and with the ease of use they deserve.
About Insulet Corporation:
Insulet Corporation (NASDAQ: PODD) is an innovative medical device company dedicated to making the lives of people with diabetes easier. Through its Omnipod Insulin Management System, Insulet seeks to expand the use of insulin pump therapy among people with insulin-dependent diabetes. The Omnipod is a revolutionary and easy-to-use tubeless insulin pump that provides up to three days of non-stop insulin delivery, without the need to see or handle a needle. Insulet's Delivery Systems business also partners with global pharmaceutical and biotechnology companies to adapt the Omnipod technology platform for the delivery of subcutaneous drugs across multiple therapeutic areas. Founded in 2000, Insulet Corporation is based in Billerica, Massachusetts. For more information, please visit: http://www.myomnipod.com and http://www.myomnipod.com/europe.
This press release may contain forward-looking statements concerning Insulet's expectations, anticipations, intentions, beliefs or strategies regarding the future. These forward-looking statements are based on its current expectations and beliefs concerning future developments and their potential effects on Insulet. There can be no assurance that future developments affecting Insulet will be those that it has anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond its control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, and other risks and uncertainties described in its Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission on February 28, 2017 in the section entitled "Risk Factors," and in its other filings from time to time with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of its assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Insulet undertakes no obligation to publicly update or revise any forward-looking statements.
© 2017 Insulet Corporation and Omnipod are trademarks or registered trademarks of Insulet Corporation. All rights reserved. All other trademarks are the property of their respective owners. The use of third party trademarks does not constitute an endorsement or imply a relationship or other affiliation.
Investor Relations and Corporate Media Contact:
Deborah R. Gordon, 978 600-7717
Vice President, Investor Relations and Corporate Communications
Dominic Hulton, +44 20 8834 1845
Vice President, Marketing Europe
Om Business Wire
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Wealth Dynamix (WDX) Ranks No.18 in the 2017 Tech Track 100 by the Sunday Times and 19th Fastest Growing Technology Company in the UK in the 2017 Deloitte Technology Fast 5023.11.2017 08:00 | Pressemelding
WDX ranks No.18 in the 17th annual Sunday Times Hiscox Tech Track 100 league table league which consisted of the top 100 private technology, media and telecoms (TMT) companies in Britain. WDX recorded a 155% average annual sales growth per year over the last 3 years with sales reaching £6.4M in September 2016 and £9m by end of September 2017. More recently, in November 2017, WDX also announces ranking No.19 in the 2017 Deloitte UK Technology Fast 50, a ranking of the 50 fastest growing technology companies in the UK. Rankings are based on percentage revenue growth over the last four years of which, WDX grew 1,563% during this period. WDX attributed this revenue growth to the team’s hard work and the positive change in attitude toward technology in the Wealth and Investment Management industry. WDX’s CEO, Gary Linieres credits the team with the company’s revenue growth. He sa
Mobidiag Signs Agreement with Interlux for the Distribution of Amplidiag® Diagnostic Tests and Instruments in Estonia23.11.2017 07:00 | Pressemelding
Mobidiag Ltd, a Finnish molecular diagnostics company, today announced a distribution agreement with Interlux OÜ, supplier of technologies for medicine, science and biotechnology industry. Under this agreement, Interlux becomes the exclusive distributor of the Amplidiag® product line in Estonia, in vitro diagnostic tests and compatible instrument for the detection of gastrointestinal infections. “Thanks to a large distribution network, our Amplidiag product line is now accessible in most Western European countries. This new distribution agreement allows us to introduce the Amplidiag product line to the Baltic region starting with Estonia. We are then very happy to start this new partnership with Interlux to support us in this new market”, said Miquel Vernet, CCO at Mobidiag. “Cooperation with Mobidiag offers the customers of Interlux high-quality diagnostic results. I believ
OCP Announces Date of 2017 Third Quarter and Nine Month Results22.11.2017 16:59 | Pressemelding
OCP S.A., a global leader in the fertilizer industry, will release its third quarter and nine month 2017 results on Thursday, November 30, 2017. The results will be available to holders of the Company’s bonds, qualified institutional buyers, securities analysts and market makers on the OCP Intralinks portal at 9 a.m. EDT and 2 p.m. Morocco/London time. OCP senior management will host a conference call to discuss 2017 third quarter/nine month results at 10 a.m. EDT and 3 p.m. Morocco/London time on Thursday, November 30, 2017 for holders of the Company’s bonds, qualified institutional buyers, securities analysts and market makers. Eligible parties that have not already registered for access to the Intralinks portal may do so by contacting the Investor Relations Department by emailing firstname.lastname@example.org. About OCP OCP is a global leader in the fert
Tata Motors Charts Out 'Connecting Aspirations' As Its New Corporate Brand Identity in Global Markets22.11.2017 14:46 | Pressemelding
As part of the company’s transformation journey undertaken in 2016, Tata Motors commenced a comprehensive project to articulate its corporate branding. Basis a thorough analysis of the existing and the desired future state of the Company, Tata Motors has defined its new brand identity as ‘Connecting Aspirations’ across 46 markets, internationally. ‘Connecting Aspirations’, as the new defining maxim, represents the personality of the brand as an interconnected system of mobility solutions, that are intelligent, perceptive, warm and expressive. It’s a symbolic tagline that represents the company’s past, present and future. It is humble yet bold, a statement as well as a challenge. It will define the way Tata Motors communicates with its internal as well as external stakeholders, and work as an all-encompassing guiding principle across business units.” Speaking on the
NelsonHall Positions L&T Technology Services in the Leaders Category for IoT Services22.11.2017 13:50 | Pressemelding
L&T Technology Services Limited (NSE: LTTS), a leading global pure-play engineering services company announced that it has been positioned in the Leaders Category by independent global research firm, NelsonHall in its latest NEAT evaluation for Internet of Things (IoT) services providers. LTTS is the only global pure-play engineering services to be positioned in the leader’s category. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171122005331/en/ L&T Technology Services Capabilities across IoT Services. (Graphic: Business Wire) LTTS has been identified as a leader relative to its peers’ due to its ability to meet future client requirements as well as deliver immediate benefits to IoT Services clients. Dominique Raviart, IT Services Practice Director, NelsonHall said, “L&T Technol
Smithers Viscient Europe Appoints Alasdair Clipston Director of Chemistry.22.11.2017 10:30 | Pressemelding
Smithers Viscient, a global contract research organisation (CRO), announced the appointment of Alasdair Clipston to the role of Director of Chemistry. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171122005035/en/ Smithers Viscient Europe Appoints Alasdair Clipston Director of Chemistry. (Photo: Business Wire) Clipston joins Smithers with 15 years spent within contract research and testing organisations including AstraZeneca and Charles River. “Alasdair brings great knowledge and experience to our operational leadership team, particularly in residue and physical chemistry including five batch analysis.” said Steve Dean, Managing Director, Smithers Viscient Europe. Dean continues, “His skills and passion for science coupled with excellent client relationships and strong business unde
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom