7. Diabetes techMartha acknowledged that Medtronic is missing out on growth in the diabetes sector and needs to regain technology leadership when it comes to pumps and sensors.
“In diabetes, we continue to execute on our near-term pipeline. We’re on track for the Minimed 770G approval later this summer. We’ve received CE Mark approval for our Minimed 780G, advanced hybrid closed-loop system and we’ll launch this fall,” Martha said.
The company is looking to increase research and development for its diabetes group through an agreement to receive $337 million from Blackstone. And there’s also the pending acquisition of Companion Medical and its InPen FDA-cleared smart insulin pen system that is paired with an integrated diabetes management app.
“Companion smartpen technology expands our ecosystem to include the multi-daily-injection portion of the diabetes market, with a patient population that is nearly 12 times larger than that that use insulin pumps,” Martha said. “But make no mistake, we are still very focused on regaining technology leadership in the pump and the sensor market.”