The biggest stories from the American Diabetes Association (ADA) 2023 Scientific Sessions

From left: the Insulet Omnipod 5, Medtronic MiniMed 780G and the Senseonics Eversense E3. These technologies were part of some of the biggest stories from the American Diabetes Associations’ 2023 Scientific Sessions. [Images courtesy of Insulet, Medtronic and Senseonics]

As it does every year, this past week, the American Diabetes Association convened its Scientific Sessions to bring together leaders in the diabetes space.

At last year’s event, next-generation technologies from the big hitters took the spotlight. The 83rd iteration this past week produced a range of new studies, product updates and positive news for a number of technologies and innovations. From continuous glucose monitors (CGMs) to insulin pumps to digital platforms and diabetes reversal procedures, ADA 2023 saw it all.

Usual suspects, like Dexcom, Abbott, Medtronic and Insulet shared their updates. Meanwhile, promising data came …

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The biggest stories from the American Diabetes Association (ADA) 2023 Scientific Sessions

From left: the Insulet Omnipod 5, Medtronic MiniMed 780G and the Senseonics Eversense E3. These technologies were part of some of the biggest stories from the American Diabetes Associations’ 2023 Scientific Sessions. [Images courtesy of Insulet, Medtronic and Senseonics]As it does every year, this past week, the American Diabetes Association convened its Scientific Sessions to bring together leaders in the diabetes space.

At last year’s event, next-generation technologies from the big hitters took the spotlight. The 83rd iteration this past week produced a range of new studies, product updates and positive news for a range of technologies and innovations. From continuous glucose monitors (CGMs) to insulin pumps to digital platforms and diabetes reversal procedures, ADA 2023 saw it all.

Usual suspects, like Dexcom, Abbott, Medtronic and Insulet shared their updates. Meanwhile, promising data came out of Senseonics, Sernova, Bigfoot Biomedical and more.<…

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Insulet makes progress on integrating Omnipod 5 with Abbott FreeStyle Libre 2

The Insulet Omnipod 5 [Photo courtesy of Insulet]Insulet (Nasdaq:PODD) today announced a duo of updates related to its Omnipod 5 system that includes a significant integration development.

The company submitted an updated mobile application for regulatory clearance and aims to integrate Omnipod 5 with the Abbott FreeStyle Libre 2.

Acton, Massachusetts-based Insulet plans to discuss a range of developments related to its product line in the coming days at the American Diabetes Association (ADA) 83rd Scientific Sessions in San Diego. Presentations include real-world evidence of improved outcomes and optimization using the Omnipod 5 automated insulin delivery system.

News of these developments follows the UK launch of Omnipod 5 earlier this week.

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

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Insulet makes Omnipod 5 automated insulin delivery system available in the UK

Insulet’s Omnipod 5 with the Dexcom G6 CGM. [Image from Insulet]Insulet (Nasdaq:PODD) announced that it commercially launched its Omnipod 5 automated insulin delivery system in the United Kingdom.

Acton, Massachusetts-based Insulet launched Omnipod 5 for individuals aged two years and older with type 1 diabetes.

The latest-generation Omnipod 5 became the first tubeless, wearable automated insulin delivery system cleared for marketing in the U.S. in January 2022. Insulet commenced its U.S. full-market launch in August 2022. The Omnipod 5 picked up CE mark approval for ages two and up in September of last year.

Omnipod 5, a tubeless pod, features SmartAdjust technology. It integrates with the Dexcom 6 continuous glucose monitor (CGM). With CGM data, SmartAdjust predicts where glucose will be 60 minutes into the future every five minutes. Omnipod 5 then increases, decreases, or pauses insulin delivery based on the user’s desired and customized glucose ta…

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Analysts still high on Insulet despite Medtronic’s EOFlow buy, stock market reaction

The Insulet Omnipod 5 (left) and the EOFlow EOPatch (right), just acquired by Medtronic.

Despite a negative reaction from investors following a major buy in the insulin delivery space, analysts still back Insulet (Nasdaq:PODD) stock to perform.

Shares of PODD fell throughout today after Medtronic (NYSE:MDT) announced a $738 million acquisition of EOFlow. Korea-based EOFlow develops the EOPatch, a tubless, wearable and fully disposable insulin delivery device. Insulet represents a market leader in that space with its own Omnipod patch pump platform. Omnipod 5 became the first available tubeless, wearable, automated insulin delivery system after the FDA cleared it in January 2022.

By mid-afternoon, shares of PODD fell 7.3% to $272.24 apiece. Tandem Diabetes Care, another competitor in the space, saw its shares go down 5.5% to $26.62 apiece..

In spite of the negative reaction by the markets, BTIG analysts Marie Thibault and Sam Eiber expect Insulet to maint…

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Insulet restructures leadership team to drive growth

Left: outgoing chief commercial officer Bret Christensen. Right: New Chief Product & Customer Experience Officer (CPXO) Eric Benjamin. [Images from Insulet]Insulet (Nasdaq:PODD) announced today that it reshuffled its organizational structure to accelerate innovation and commercialization.

In connection with the reorganization, Bret Christensen, EVP and chief commercial officer, leaves the company today to pursue other opportunities. He agreed to offer consulting services during a transition period.

Jim Hollingshead, Insulet’s president and CEO, said Christensen “played an integral role” in Insulet’s commercial success during his six-year spell with the company. He most recently played his part in the commercial launch of the next-generation Omnipod 5 automated insulin delivery system.

“[Christensen] helped build a deep, talented commercial team that has contributed to our strong customer base growth, an exceptional customer exper…

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Insulet reports 21% sales growth in Q1, raises 2023 guidance

Insulet (Nasdaq:PODD) + shares are up on first-quarter results that topped the consensus forecast.

Shares of PODD rose more than 3% to 331.60 apiece by midday trading today. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down slightly.

The Acton, Massachusetts–based automated insulin delivery technology developer posted profits of $23.8 million, according to the company’s earnings report yesterday evening. That amounts to 34¢ per share on sales of $358.1 million for the three months ended March 31, 2023.

Insulet recorded a 14.4% bottom-line slide on sales growth of 21.2%. Total Omnipod revenue came in at $357.6 million for an increase of 32.7% year over year. Insulet rolled out its next-generation Omnipod 5 in August 2022, following the system’s FDA clearance in February 2022. The company also earned FDA clearance for the Omnip…

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FDA clears basal-only insulin pod for type 2 diabetes from Insulet

The Omnipod GO insulin delivery system. [Image courtesy of Insulet]Insulet (Nasdaq:PODD) announced today that it received FDA clearance for its Omnipod GO long-acting insulin delivery device.

Omnipod GO, which received clearance for people with type 2 diabetes aged 18 or older, covers the basal-only insulin population. The target population typically takes daily injections of long-acting insulin.

The first-of-its-kind, standalone, wearable insulin delivery system provides a fixed rate of continuous, rapid-acting insulin for 72 hours. It features a tubeless and waterproof pod offered in seven different pre-programmed daily rates. These rates range from 10 to 40 units per day.

Insulet developed the product to serve the type 2 diabetes population earlier in their treatment journey. This technology starts them on pod therapy — built on Insulet’s longstanding Omnipod platform — for insulin delivery, rather than daily injections. If a patient becomes insulin-inte…

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Insulet to replace Silicon Valley Bank in the S&P 500

S&P Dow Jones Indices announced that Insulet (Nasdaq:PODD) is set to replace Silicon Valley Bank in the S&P 500 index.

The change becomes effective prior to the opening of trading on Wednesday, March 15. It adds Insulet to the index tracking 500 large companies listed on stock exchanges in the U.S.

Silicon Valley Bank’s deletion from the S&P 500 follows the March 10 news that the FDIC took the bank into receivership. Therefore, Silicon Valley Bank became ineligible for inclusion into the index.

After news of Insulet’s addition to the S&P 500, shares received a 6% boost after market hours Friday. They’ve since grown more than 7% to $300 apiece in morning trading today. MassDevice‘s MedTech 100 index, which includes stocks of the world’s largest medical device companies, was up slightly.

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

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Medtech jobs: The world’s largest medical device companies are hiring

Medical device companies are trying to fill thousand of medtech jobs. [Photo by ijeab – stock.adobe.com]

The world’s largest medical device companies are still hiring for medtech jobs despite layoffs in tech and other industries.

Medtech developers — and medtech jobs — are resilient, with the industry’s COVID-19 pandemic performance only bolstering its recession-proof reputation.

That’s not to say there haven’t been job cuts in medtech, led by thousands of layoffs at Philips as it struggles with a massive recall of deadly respiratory devices. But most medical device manufacturers are still hiring, and in some cases they can’t attract enough candidates to fill every vacancy in a tight labor market.

Stryker, for example, grew to approximately 51,000 employees as of the end of 2022, increasing its headcount by nearly 11 percent last year. Boston Scientific reported nearl…

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Insulet stock rises on Street-beating Q4, expected Omnipod growth

Insulet (Nasdaq:PODD) shares ticked up after market close on fourth-quarter results that came in well ahead of the consensus forecast.

Shares of PODD rose 4.5% to $311 apiece after trading ceased for the day. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the day up 9%.

The Acton, Massachusetts-based automated insulin technology developer posted profits of $17 million. That amounts to 24¢ per share on sales of $369.7 million for the three months ended Dec. 31, 2022.

Insulet recorded a 41.8% bottom-line slide despite sales growth of 20.1%. Its global Omnipod revenues — including the latest-generation Omnipod 5 — totaled $366.4 million for the quarter. That marks 32.8% year-over-year growth. Omnipod growth for the full year came in at 23.4%, reaching $1.2 billion in sales.

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

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Insulet acquires assets of Automated Glucose Control for $25M

Insulet’s Omnipod 5 with the Dexcom G6 CGM. [Image from Insulet]Insulet (Nasdaq:PODD) announced today that it acquired the assets of Automated Glucose Control, a developer of insulin delivery technology.

This marks the second asset buy in as many days for Insulet. Yesterday, the company picked up automated insulin delivery patents from Bigfoot Biomedical. Both acquisitions cost the company $25 million.

Palo Alto, California-based Automated Glucose Control (ACG) focuses on developing and commercializing best-in-class automated insulin delivery (AID) technology. Insulet develops its own AID platform, with the Omnipod 5 representing the latest iteration, having received FDA clearance last year.

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

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