Profile: Insulet Corp (PODD.O)
22 Jul 2019
Insulet Corporation, incorporated on July 20, 2000, is engaged in the development, manufacturing and sale of the OmniPod Insulin Management System (the OmniPod System), an insulin delivery system for people with insulin-dependent diabetes. The Omnipod System features a self-adhesive disposable tubeless Omnipod device, which is worn on the body for approximately three days at a time and its wireless companion, the handheld Personal Diabetes Manager (PDM). The Omnipod System features two discreet devices that eliminate the need for a bulky pump, tubing and separate blood glucose meter, provides for virtually pain-free automated cannula insertion, communicates wirelessly and integrates a blood glucose meter.
The Omnipod System is a discreet two part design, the Omnipod device (Pod) and the PDM that eliminates the need for the external tubing required with conventional pumps. The Pod is a self-adhesive device that the patient fills with insulin and wears directly on the body. The Pod delivers precise, personalized doses of insulin into the body through a small flexible tube (called a cannula), based on instructions that the patient programs into the Pod's wireless companion, the PDM. The PDM is a wireless, handheld device that programs the Pod with the patient's personalized insulin-delivery instructions, wirelessly monitors the Pod's operation and includes a FreeStyle blood glucose meter. The Omnipod System works like the pancreas of a person without diabetes by delivering insulin in two ways, including a small, constant background supply of insulin (called a basal rate) is delivered automatically at a programmed rate, all day and night, and an extra dose of insulin (called a bolus) can be delivered when a patient needs it to match the carbohydrates in a meal or snacks or to correct high blood glucose.
The Company is producing the OmniPod on semi-automated manufacturing lines at a facility in China, operated by a subsidiary of Flextronics Ltd. (Flex). In addition to using the Omnipod for insulin delivery, the Company also partners with pharmaceutical and biotechnology companies to tailor the Omnipod System technology platform for the delivery of subcutaneous drugs across multiple therapeutic areas. The Company sells the Omnipod System in the United States through direct sales to customers or through its distribution partners. The Omnipod System is available in multiple countries in Europe, Canada and Israel.
The Company competes with Medtronic Inc., Johnson & Johnson, Tandem Diabetes Care, Inc., West Pharmaceuticals, Abbott Diabetes Care, Inc., Eli Lilly and Company, Novo Nordisk A/S and Takeda Pharmaceuticals Company Limited.
100 Nagog Park
ACTON MA 01720-3440