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Insulet (PODD) Launches Omnipod 5 AID System in Germany
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Insulet Corporation (PODD - Free Report) recently announced the commercial introduction of its Omnipod 5 Automated Insulin Delivery System (Omnipod 5) for people with type 1 diabetes (T1D) who are two years of age and older in Germany. At present both the United States and the U.K. sell Omnipod 5.
The latest development highlights Insulet’s efforts to secure broader access for Omnipod 5 globally.
More on the News
The first CE-marked hybrid closed loop (also known as tubeless automated insulin delivery) device that works with the Dexcom G6 Continuous Glucose Monitoring (CGM) device is the Omnipod 5. The tubeless Pod improved with SmartAdjustTM technology and a portable Controller integrated with the SmartBolus Calculator are also part of the system. For automatic insulin delivery to assist in guarding against high and low glucose levels, the system is compatible with Dexcom G6.
The German National Association of Statutory Health Insurance Funds (GKV-Spitzenverband) has granted Omnipod 5 its medical assistance numbers, making it eligible for reimbursement from health insurance companies.
Significance of the Launch
People with type 1 diabetes in Germany seek the most cutting-edge technological solutions to make managing their condition more manageable. Insulet is confident in its capacity to make a difference in Germany and other markets in the near future because of the compelling evidence demonstrating improved clinical outcomes from users in the United States over the previous year.
Insulet has published real-world data from 36,634 adults and 18,516 children and adolescents with type 1 diabetes living in the United States, proving that Omnipod 5 users of all ages may achieve the highly favorable glycemic results first reported in Omnipod 5 pivotal studies.
Industry Prospects
Per a Research report, the global insulin delivery devices market was valued at $12.5 billion in 2021 and is expected to witness a CAGR of 7.4% by 2030.
Recent Developments
In June 2023, Insulet announced the commercial launch of its Omnipod 5 Automated Insulin Delivery (“AID”) System for individuals aged two years and older with type 1 diabetes (T1D) in the United Kingdom. The tubeless AID system, launched in the United States last year, had a remarkable impact on simplifying diabetes management.
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Earlier in April, Insulet announced the FDA clearance of Omnipod GO — an insulin delivery device cleared for use for people with type 2 diabetes age 18 or older, who typically take daily injections of long-acting insulin. The commercial launch in the United States is expected in 2024.
Price Performance
In the past six months, PODD shares have dropped 35.9% compared with the industry’s fall of 2.2%.
Haemonetics’ stock has risen 19.9% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 167.5% in the past year against the industry’s decline of 1.7%.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 31% in the past year compared with the industry’s rise of 1.9%.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.
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Insulet (PODD) Launches Omnipod 5 AID System in Germany
Insulet Corporation (PODD - Free Report) recently announced the commercial introduction of its Omnipod 5 Automated Insulin Delivery System (Omnipod 5) for people with type 1 diabetes (T1D) who are two years of age and older in Germany. At present both the United States and the U.K. sell Omnipod 5.
The latest development highlights Insulet’s efforts to secure broader access for Omnipod 5 globally.
More on the News
The first CE-marked hybrid closed loop (also known as tubeless automated insulin delivery) device that works with the Dexcom G6 Continuous Glucose Monitoring (CGM) device is the Omnipod 5. The tubeless Pod improved with SmartAdjustTM technology and a portable Controller integrated with the SmartBolus Calculator are also part of the system. For automatic insulin delivery to assist in guarding against high and low glucose levels, the system is compatible with Dexcom G6.
The German National Association of Statutory Health Insurance Funds (GKV-Spitzenverband) has granted Omnipod 5 its medical assistance numbers, making it eligible for reimbursement from health insurance companies.
Significance of the Launch
People with type 1 diabetes in Germany seek the most cutting-edge technological solutions to make managing their condition more manageable. Insulet is confident in its capacity to make a difference in Germany and other markets in the near future because of the compelling evidence demonstrating improved clinical outcomes from users in the United States over the previous year.
Insulet has published real-world data from 36,634 adults and 18,516 children and adolescents with type 1 diabetes living in the United States, proving that Omnipod 5 users of all ages may achieve the highly favorable glycemic results first reported in Omnipod 5 pivotal studies.
Industry Prospects
Per a Research report, the global insulin delivery devices market was valued at $12.5 billion in 2021 and is expected to witness a CAGR of 7.4% by 2030.
Recent Developments
In June 2023, Insulet announced the commercial launch of its Omnipod 5 Automated Insulin Delivery (“AID”) System for individuals aged two years and older with type 1 diabetes (T1D) in the United Kingdom. The tubeless AID system, launched in the United States last year, had a remarkable impact on simplifying diabetes management.
Earlier in April, Insulet announced the FDA clearance of Omnipod GO — an insulin delivery device cleared for use for people with type 2 diabetes age 18 or older, who typically take daily injections of long-acting insulin. The commercial launch in the United States is expected in 2024.
Price Performance
In the past six months, PODD shares have dropped 35.9% compared with the industry’s fall of 2.2%.
Zacks Rank and Key Picks
Insulet currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) , Quanterix (QTRX - Free Report) and SiBone (SIBN - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Haemonetics’ stock has risen 19.9% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 167.5% in the past year against the industry’s decline of 1.7%.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 31% in the past year compared with the industry’s rise of 1.9%.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.