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Embecta increases 2023 guidance, reports closed-loop insulin delivery tech progress

Embecta (Nasdaq:EMBC) shares rose this morning as it increased its full-year guidance and shared an update on its automated insulin delivery technology.

The company also reported third-quarter results that came in ahead of the consensus forecast.

Shares of EMBC ticked up 3.1% at $22.27 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — remained unchanged.

Since its spinoff from BD last year, Embecta says it continues to make progress on the development of a closed-loop insulin delivery system for type 2 diabetes. The system utilizes its proprietary patch pump system, which holds FDA breakthrough device designation.

Get the full story at our sister site, Drug Delivery Business News.

Embecta stock rises on Q2 results, reports progress on automated insulin delivery tech

Embecta (Nasdaq:EMBC) shares ticked up today on second-quarter results that topped the consensus forecast, leading to a guidance increase.

Shares of EMBC grew 2.1% to $29.52 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 0.1%.

The Parsippany, New Jersey-based diabetes technology company posted profits of $14 million. That amounts to per share on sales of $277.1 million for the three months ended March 31, 2023.

Embecta, which spun off from BD last year, recorded a bottom-line slide of 82.4% on sales growth of 0.9%.

Get the full story at our sister site, Drug Delivery Business News.

Analysts receive update on Embecta insulin patch pump progress

BTIG analysts Marie Thibault and Sam Eiber met with Embecta (Nasdaq:EMBC) executives last week and received an update on the company’s current position.

Thibault and Eiber met with Embecta CFO Jake Elguicze and Head of Investor Relations Pravesh Khandelwal.

Among a series of updates, the BTIG report said Embecta expects a “transitional period” in the next 12-18 months. That includes standing up its own business units and exiting remaining transition service agreements (TSAs), plus investing in growth opportunities.

The report also updated on the BD diabetes spinoff’s insulin patch pump development and other potential business opportunities. Thibault and Eiber maintained a “Neutral” rating on Embecta stock.

Get the full story at our sister site, Drug Delivery Business News.

Embecta stock soars on Street-beating Q4, raised 2023 guidance

Embecta (Nasdaq:EMBC) shares received a boost today on fourth-quarter results that came in well ahead of the consensus forecast.

Shares of EMBC ticked up 7.9% at $30.67 apiece in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 11.3%.

Wall Street’s positive reaction to the results is likely attributable to Embecta’s sizeable guidance increase for 2023.

The company now projects adjusted EPS to range between $2.20 and $2.35. That marks a significant rise from previous expectations for between $1.75 and $2. Embecta also upped its revenue guidance, now projecting between $1.084 billion and $1.107 billion. Its previous range fell between $1.05 billion and $1.073 billion.

The company now projects adjusted EPS to range between $2.20 and $2.35. That marks a significant rise from previous expectations of between $1.75 and $2. Embecta also upped i…

How Embecta started strong and what’s ahead for the BD diabetes spinoff

Embecta CEO Dev Kurdikar Ten months after spinning off from BD, Embecta CEO Dev Kurdikar lays out what the future holds for the diabetes technology company.

When Embecta became a standalone company in April 2022, CFO Jake Elguicze said he felt it was “uniquely positioned.”

As a pure-play diabetes technology developer, its beginning phase hardly mirrors a normal startup. The former diabetes arm of BD brought with it nearly a century of experience in the space.

Elguicze said Embecta had scale at about $1.2 billion in annual revenue. It also kicked off with a strong geographic reach and no ties to any one product.

Still, CEO Devdatt “Dev” Kurdikar last week told Drug Delivery Business News that the past 10 months still involved a lot of work around the spinoff. But, the future looks bright for Embecta, he says.

“We’ve taken a business that was part of a much larger business for close to 100 years,” Kurdikar explained. “Now, we’re doing the work of se…

Embecta opens new global headquarters in New Jersey

Embecta (Nasdaq:EMBC) announced today that it held a grand opening ceremony at its new global headquarters in New Jersey.

The BD Diabetes business spinoff opened its new headquarters at 300 Kimball Drive, Suite 300, in Parsippany, New Jersey. The site houses members of the Embecta leadership team, global support functions and North American commercial organization.

Embecta has approximately 2,000 employees globally.

“With a number of our employees currently making their homes in New Jersey, the ability to tap into one of the nation’s most significant concentrations of highly-educated, experienced medical technology talent, and easy access to international airports and interstate highways, we see Parsippany as the ideal location to establish our worldwide headquarters,” said Devdatt (Dev) Kurdikar, president and CEO, Embecta.

“We are a new company, but our roots in New Jersey go back nearly 100 years when, as part of BD, we developed the first dedi…

The 10 biggest diabetes tech stories from 2022

Some of the biggest diabetes technology developments in 2022. These include the Dexcom G7 (top left), Insulet Omnipod 5 (bottom left), Senseonics Eversense E3 (top right) and Abbott FreeStyle Libre 3 (bottom right. 2022 represented a landmark year for next-generation diabetes technologies. Here are the biggest stories from the past year.

Some companies picked up major regulatory nods. Others experienced major regulatory setbacks.

Partnerships were formed and ended, while mergers and acquisitions came and went. There were many stories to choose from, but here are 10 big ones that stood out:

Dexcom G7 receives FDA clearance

The long-awaited regulatory nod for Dexcom’s next-generation continuous glucose monitor (CGM) finally came in December.

Some suggested that San Diego-based Dexcom may pick up clearance as soon as summer 2022. However, a software change recommended by the FDA, plus COVID-19-related backlog, delayed proceedings.

Dexcom COO Ja…

DeviceTalkers assemble for the final Newsmakers of 2022

In this episode, your diligent team of DeviceTalkers assembled to review our Top 10 events, trends and newsmakers of 2022.

Executive Editor Chris Newmarker, Pharma Editor Brian Buntz, Managing Editor Jim Hammerand, Senior Editor Danielle Kirsh and Associate Editor Sean Whooley joined me, DeviceTalks Editorial Director Tom Salemi, for the latest DeviceTalks podcast.

We’ve got some highs — robots, diabetes — and some lows — supply chain, recalls — and a whole lot of interesting things in between. All-in-all, we’re bullish on what’s to come in 2023! And we only mentioned COVID-19 once.

Companies mentioned in our wide-ranging discussion include Abbott, Abiomed, Ambu, Becton Dickinson, Boston Scientific, CMR Surgical, Dexcom, embecta, Intuitive, Johnson & Johnson Medtech, Medtronic, Neuralink, Philips, Senseonics, Stryker, Synchron, Vicarious Surgical, Zimmer Biomet, ZimVie and many more.

You can listen to other DeviceTalks Podcast Network shows at…

Embecta stock slides on mixed Q4 results

Embecta (Nasdaq:EMBC) shares dipped before the market opened today on fourth-quarter results that came in mixed compared to the consensus forecast.

EMBC shares fell more than 12% to $29.73 apiece in morning trading. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was up more than 4%.

The Parsippany, New Jersey-based company posted losses of $17.2 million. That amounts to 30¢ per share on sales of $274.6 million for the three months ended Sept. 30, 2022.

Embecta registered a significant bottom-line skid into the red on a sales decline of 8.7%. This time last year — as the diabetes arm of BD — Embecta posted profits of $97.1 million for the quarter. However, Embecta noted that last year’s numbers do not purport to reflect its performance if it were a standalone company.

Get the full story at our sister site, Drug Delivery Business News.

Analysts remain neutral on Embecta, await insulin patch pump developments

BTIG analysts maintained their neutral rating for Embecta (Nasdaq:EMBC) ahead of the company’s fourth-quarter earnings report next week.

Embecta, the BD diabetes spinoff, reports its fourth-quarter earnings on Tuesday, Dec. 20. Analysts Marie Thibault and Sam Eiber also expect 2023 guidance to come from management then.

The analysts mainly expect the patch pump market to dominate discussions, given recent developments in the market. That includes Insulet’s November announcement that it developed a basal-only patch pump for type 2 diabetes. It expects to submit for FDA 510(k) clearance for that technology “soon,” according to company officials.

Get the full story at our sister site, Drug Delivery Business News.

Here’s what diabetes tech companies are doing for National Diabetes Awareness Month

As we enter November, we enter National Diabetes Awareness Month. A number of diabetes technology developers plan to mark that in a special way.

Dexcom (Nasdaq:DXCM), Insulet (Nasdaq:PODD) and Embecta (Nasdaq:EMBC) all announced their plans to celebrate.

Last year, a handful of companies marked the month — which includes World Diabetes Day (Nov. 14) — in a series of ways. Here’s how they’re doing it this year.

Get the full story at our sister site, Drug Delivery Business News.

Analysts see multi-year transition to growth for Embecta

Embecta (Nasdaq:EMBC), the BD diabetes business spinoff, may take a few years to move into a growth phase, analysts say.

BTIG analysts Marie Thibault and Sam Eiber wrote a report labeling Embecta as a “Neutral” option on the market. BD initially announced it would spin off its diabetes business in 2021, finally completing the move in April 2022.

The company’s first quarterly results as a spinoff inspired early confidence, beating the consensus forecast on Wall Street. However, the analysts aren’t jumping at the stock too soon.

“We expect this to be a multi-year transition from a value story to a growth play,” Thibault and Eiber wrote.

Get the full story at our sister site, Drug Delivery Business News.