The GLP-1 drug class, which includes Ozempic and Wegovy, has cast a shadow of doubt over diabetes technology of late. This therapeutic class, a glucagon-like peptide 1, has proven to lead to improved blood sugar control and weight loss.
In addition to the popular therapeutics, some companies — like i20 Therapeutics and Vivani Medical — are developing long-term implants that elute GLP-1s.
Positive clinical results from these drugs led to some negative market movement for a few of the biggest names in diabetes technology. Analysts even recently trimmed some forecasts on sales to reflect increased pressure thanks to the GLP-1 updates. The current trend impacted market responses to the likes of Insulet and Embecta in this most recent quarter. It even had an impact on Intuitive Surgical and its surgical robot for bariatric procedures.
Medtronic CEO Geoff Martha tempered expectations of a massive shift in the space, saying the company’s “initial work indicates minimal impact” to its business.
BTIG analysts Marie Thibault and Sam Eiber seem to agree with that sentiment on a broader scale. They hosted a call with Dr. Osama Hamdy of the Obesity Clinical Program at the Joslin Diabetes Center to discuss the GLP-1 impact. Hamdy, an Associate Professor of Medicine at Harvard Medical School, laid out his view on how the therapeutic may — or may not — impact diabetes technologies.
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