The Acton, Massachusetts-based tubeless insulin pump technology developer posted profits of $12.6 million, or 18¢ per share, on sales of $275.6 million for the three months ended Sept. 30, 2021, for an 8.6% bottom-line gain on sales growth of 17.8%.
Adjusted to exclude one-time items, earnings per share were 18¢, 2¢ behind Wall Street, where analysts were looking for sales of $273.2 million.
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How Hologic made a major pandemic pivot: CFO Karleen Oberton reflects on key decisions and turning points of the COVID-19 pandemic.
Insulet CEO Shacey Petrovic is pumped up to launch Omnipod 5
Boston Scientific’s Meghan Scanlon forecasts the future of urology
There is still a long way to go to close the gender leadership gap in the medical device industry, but hope is on the horizon.Women still account for less than a quarter of all executive leadership roles within the biggest medical device companies in the world, according to our annual analysis in this Women in Medtech edition of Medical Design & Outsourcing.
Just 21% of the executives in the top 100 medical device companies are women — up one percentage point from last year — and the number of those companies with a female CEO remains unchanged at four.
For comparison, about 40% of the 660,000 employees in the medical equipment and supplies manufacturing industry a…
Insulin delivery technology developer Insulet (NSDQ:PODD) announced today that it appointed Dr. Luciana Borio to its board of directors.
Borio joins the board of Acton, Massachusetts-based Insulet, having served in key roles with the FDA, the National Security Council and the Council on Foreign Relations. She specializes in biodefense and medical countermeasures, emerging infectious diseases, medical product development and public health emergencies.
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The Insulet Omnipod 5 [Photo courtesy of Insulet]
With FDA clearance imminent, Petrovic says Insulet’s latest device offers real change in diabetes care.Faced with either a bulky insulin pump or delivering multiple daily injections, Boston-based entrepreneur and venture capitalist John Brooks III sought an easier way to treat his young son’s newly diagnosed type 1 diabetes.
He assembled a team of engineers and they created Omnipod, Insulet’s (NSDQ:PODD) wearable, automated insulin delivery patch system.
“The company was founded in 2000 based on that innovation and ingenuity and that sort of spirit stays with the company,” CEO Shacey Petrovic said in an interview with MassDevice. “We’re continuing to invest in innovation and look for a better way. The origin story was born of patient need and that is at the core of our mission.”
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Faced with either a bulky insulin pump or delivering multiple daily injections, Boston-based entrepreneur and venture capitalist John Brooks III sought an easier way to treat his young son’s newly diagnosed type 1 diabetes.
He assembled a team of engineers and they created Omnipod, Insulet’s (NSDQ:PODD) wearable, automated insulin delivery patch system.
“The company was founded in 2000 based on that innovation and ingenuity and that sort of spirit stays with the company,” CEO Shacey Petrovic said in an interview with MassDevice. “We’re continuing to invest in innovation and look for a better way. The origin story was born of patient need and that is at the core of our mission.”
Get the full story at our sister site, Drug Delivery Business News.
Insulet (NSDQ:PODD) last week presented positive pivotal trial data for its Omnipod 5 automated insulin delivery system.
Acton, Massachusetts-based Insulet’s Omnipod 5 — which it touts as the world’s first tubeless wearable system for continuously adapting insulin delivery based on glucose levels and trends — significantly improved time in range and reduced HbA1c in the trial.
Get the full story at our sister site, Drug Delivery Business News.
The medtech industry has been rising for weeks and the latest seven-day stretch was no exception as stocks ticked up again.
MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week (Aug. 6) at 119.41 points, marking a 0.5% rise from the previous week’s tally of 118.86 points (July 30). Not including the the week in which the index shot up to 145.88 points and quickly tumbled down, the latest marks would represent the index’s all-time best.
Medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too. The industry has registered a 29.3% increase from the pre-pandemic high of 92.32 (set on Feb. 19, 2020). Moreover, it remains well ahead of the mid-pandemic low of 62.13 (March 23, 2020) as well, totaling a 92.2% ascent above that point.
The industry’s performance did not correlate with the overall markets this past week as t…
Insulet (NSDQ:PODD) posted second-quarter results this week that beat the revenue consensus on Wall Street but missed on earnings estimates.
The Acton, Mass.-based company reported losses of -$25 million, or -37¢ per share, on sales of $263.2 million for the three months ended June 30 for a sales growth of 16.31% compared with Q2 2020.
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Barclays analysis projects that medtech might be on its way to a stretch of “outperformance” even in the wake of the COVID-19 pandemic.
According to SeekingAlpha, the report cited eight reasons that make the investment bank bullish on the industry in the coming years, starting with what it calls “robust innovation.”
On top of the evolving innovation in medtech, Barclays expects the canceled procedures of 2020 (as a result of COVID-19) to return, while new technology could increase diagnoses.
Direct-to-consumer advertising, a potential return to “normality” in a post-pandemic scape, surveys indicating a resurgence in elective surgeries, healthy balance sheets and an aging population as a tailwind round out the reasons why Barclays expects success for medtech over the next several years.
Medtech companies that Barclays stands “overweight on” include Abbott (26.72% upside), Boston Scientific (18.55% ups…
Insulet (NSDQ:PODD) is suing Roche Diabetes Care in the U.K., claiming that Roche prematurely began selling tubeless insulin pumps covered by an Insulet patent three years before that patent expires.
The trial for the lawsuit, filed in August 2020, began this week in the U.K. High Court.
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Insulet (NSDQ:PODD) shares fell 4% today on break-even first-quarter results that were lower than analysts’ expectations. The company, however, raised the low end of its revenue guidance range to 16% to 20%. The range was previously 15–20%.
The Acton, Mass.-based wearable insulin delivery system developer posted a net loss of $0.0 million, or 0¢ per diluted share, on sales of $246.1 million for the three months ended March 31. For the sake of comparison, the company had a net loss of $2.1 million, or $(0.03) per diluted share, in the same quarter of 2020.
Adjusted to exclude one-time items, earnings per share were $0.00. Analysts were looking for EPS of $0.08 on sales of $247.1 million.
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Insulet (NSDQ:PODD) touted positive results from the first pivotal trial for its Omnipod 5 automated insulin delivery system.
Omnipod 5 is the world’s first tubeless, wearable system designed to continuously adapt insulin delivery based on glucose levels and trends, according to a news release.
Acton, Mass.-based Insulet said the device, which has FDA breakthrough device designation, significantly improved time in range and reduced Hba1c in children, adolescents and adults between age six and 70 with Type 1 diabetes. Insulet expects to launch the device in a limited release in the first half of this year.
Get the full story at our sister site, Drug Delivery Business News.