“We took into consideration as we planned into 2009 and into 2011 and 2012, what the economy may do to our business. … We still feel pretty good about being able to get to profitability by the end of next year, or the very beginning of 2011,” Roberts told the news service.
Although Medtronic is making in-roads into the insulin pump business, he added, Roberts feels that the Omnipod still had its advantages.
“[Medtronic] are a great marketing machine. They know how to market to their base. That will make it a little bit tougher for us but we certainly think we can compete. We think we will have a better product,” he said.
Insulet is actively seeking partners to distribute the Omnipod in Europe, after the company received the European Union’s CE Mark in late April.
Insulet has made strides recently, posting an 87 percent sales increase during the first quarter of 2009. Despite the huge jump in sales, the company still faced heavy losses for the quarter, posting $19.6 million in red ink.