Insulet (NSDQ:PODD) said today that it inked a deal with Mode Automated Glucose Control to develop an artificial pancreas using its flagship OmniPod device. The deal would see the Mode AGC algorithm incorporated into the OmniPod glucose management system, the Billerica, Mass.-based company said. The algorithm, co-developed by Insulet medical director Dr. Howard Zisser, Francis Doyle and […]
Insulet
Fonar taps MR scan inventor and founder’s son as CEO | Personnel Moves
Fonar Corp (NSDQ:FONR) said yesterday it named Timothy Damadian, son of magnetic resonance scanning inventor and company founder Dr. Raymond Damadian, as its new president and CEO. The younger Damadian worked with Fonar for 16 years, eventually becoming veep of operations. He formed Fonar subsidiary Health Management Corporation of America, which manages medial and diagnostic […]
Insulet deals Neighborhood Diabetes biz to Liberty Med for $5m
Insulet (NSDQ:PODD) said today it’s selling its Neighborhood Diabetes supplies biz to mail order medical supply company Liberty Medical for $5 million in cash, $58 million less than the company paid for it in 2011. The Billerica, Mass.-based company said it expects the sale to close sometime in the 1st quarter, and said it expects the […]
Insulet inks deal for Lilly’s Humalog concentrated insulin
Insulet (NSDQ:PODD) said yesterday that it inked a deal with Eli Lilly (NYSE:LLY) to develop a version of its flagship OmniPod device that uses a concentrated insulin made by the pharma giant. Lilly’s Humalog U200, which delivers 200 units of insulin per milliliter, is for patients who need higher doses of insuling to control their diabetes, Billerica, Mass.-based […]
Ex-Insulet chief DeSisto out before he’s in at MannKind | Personnel Moves
MannKind Corporation said today it withdrew an offer that would have made ex-Insulet (NSDQ:PODD) CEO Duane DeSisto its new CEO only 19 days after officially posting its offer to DeSisto. The offer was withdrawn as objections were raised by DeSisto’s former employer Insulet, who said the new position would violate its non-competition agreement, which will be […]
Diabetes: Insulet launches Glooko-linked data management system
Insulet (NSDQ:PODD) said yesterday that it’s launching a new data system for its OmniPod device that uses Glooko‘s diabetes management platform. Medtronic (NYSE:MDT)-backed Glooko’s platform is designed to integrate data from blood glucose monitors and other devices with either an Apple (NSDQ:AAPL) iPhone or Google (NSDQ:GOOG) Android application. Food intake, medication and insulin dosage can also be recorded to provide context for changes in […]
Ex-Insulet CEO DeSisto is new chief exec at MannKind | Personnel Moves
MannKind Corporation said last week it picked up ex-Insulet (NSDQ:PODD) CEO Duane DeSisto as its new prez and CEO, effective January 5, 2016. DeSisto will replace interim CEO Alfred Mann, who has held the spot since November. DeSisto will also join the company’s board of directors, according to a press release from the Valencia, Calif.-based company. […]
Insulet recalls OmniPods on needle deployment issue
The FDA said today that Insulet (NSDQ:PODD) last month recalled 18 lots of its flagship OmniPod insulin management system due to a needle deployment issue. No serious injuries or deaths were reported as a result of the problem, revealed by a slight increase in reports of failed or delayed needle deployment. The reported incidence is 1% to […]
Insulet jumps on Q3 sales beat
Insulet (NSDQ:PODD) yesterday reported 3rd-quarter revenues well ahead of expectations on Wall Street, sending the diabetes device maker’s share price up 11% today in early trading despite higher-than-expected losses. Billerica, Mass.-based Insulet posted losses of -$18.9 million, or -33¢ per share, on sales of $87.3 million for the 3 months ended Sept. 30. That’s a 74.5% increase […]
Diabetes: Insulet recalls more than 400,000 OmniPods
UPDATED Sept. 11, 2015 with Class I status news. Insulet (NSDQ:PODD) last month recalled more than 408,000 of its OmniPod diabetes devices after receiving reports of problems affecting their ability to deliver insulin. The FDA said yesterday that the July 8 recall is based on the possibility that the affected OmniPods’ failure rate may exceed Insulet’s standards. The problem […]
Insulet shrinks losses but misses expectations on Q2
Insulet (NSDQ:PODD) released its 2nd quarter earnings yesterday after the closing bell on Wall Street, reporting shrinking losses but missing earnings and revenue analyst’s estimates by a fair margin. Insulet reported losses of $15.4 million, or 27¢ per share, on sales of $75.6 million for the 3 months ended June 30. That amounts to a […]