Insulet (Nasdaq:PODD) announced that it entered into an amended credit agreement to replace existing term loans. The automated insulin delivery technology developer entered into the agreement with Morgan Stanley Senior Funding. This agreement amended a credit agreement dated May 4, 2021. Pursuant to the agreement, the $487.5 million in term loans outstanding under the existing […]
Drug-Device Combinations
Abbott sees big opportunities in insulin pump connectivity
Just weeks after highlighting optimism around the Abbott (NYSE:ABT) Diabetes Care unit, company officials doubled down on their excitement. At the J.P. Morgan Healthcare Conference, CEO Robert Ford highlighted diabetes as a key area for near-term growth. On the company’s fourth-quarter earnings call today, he explained some of the driving factors behind the positive outlook. It […]
Samsung could battle Apple over non-invasive glucose monitors
Bloomberg reports that Samsung has eyes on developing non-invasive glucose monitoring technology, potentially pitting it against Apple. The report says the electronics company wants to develop continuous blood pressure checking along with glucose monitoring. It comes as part of an effort to incorporate health features in Samsung devices, like its Galaxy Ring, Bloomberg says. Hon Pak, […]
Modular Medical submits next-gen insulin pump for FDA clearance
Modular Medical (Nasdaq:MODD) announced today that it submitted its next-generation MODD1 insulin pump to the FDA for 510(k) clearance. San Diego-based Modular Medical develops patented insulin delivery technologies, aiming to improve access to glycemic control. Its founder, Paul DiPerna, previously founded leading insulin pump maker Tandem Diabetes Care. DiPerna invented and designed Tandem’s t:slim pump. […]
Dexcom breaks ground on manufacturing facility in Ireland
Dexcom (Nasdaq:DXCM) announced today that it broke ground on a new state-of-the-art manufacturing facility in Ireland. The San Diego-based continuous glucose monitor (CGM) maker announced plans to invest $325 million in Athenry last May. Breaking ground on the facility marks the first steps toward bringing more than 1,000 jobs to the area. The company expects […]
Insulet has new directors as former CEO is set to retire from board
Insulet (Nasdaq:PODD) announced today that it named a duo of new board directors with high-profile figures set to retire. Acton, Massachusetts-based Insulet appointed Flavia Pease and Timothy Stonesifer to its board. Former CEO Shacey Petrovic, along with Corinne Nevinny, intend to retire from the board in May. Petrovic spent more than seven years as CEO […]
Kindeva Drug Delivery acquires nasal spray company Summit Biosciences
Kindeva Drug Delivery announced today that it acquired Summit Biosciences, an intranasal drug-delivery company. Summit, a drug delivery CDMO, brings a track record of innovation in the unit dose nasal spray market. Kindeva believes the acquisition enhances its existing drug delivery capabilities by adding a new platform. This new platform enhances its ability to serve […]
Fresenius Kabi has a Class I Ivenix infusion pump recall
The FDA determined that a recall of the Fresenius Kabi Ivenix large-volume infusion pump is Class I, the most serious kind. This recall affects the LVP-0004 model of the Ivenix large-volume pumps. Fresenius Kabi distributed these systems between Oct. 1, 2021, and July 31, 2023. In total, the company recalled 938 devices in the U.S. […]
Diabetes unit continues to power growth at Abbott with Lingo coming to U.S. ‘soon’
With continued progress on established platforms, new acquisitions and new products, Abbott (NYSE:ABT) has high expectations for its Diabetes business. Speaking at the J.P. Morgan Healthcare Conference, CEO Robert Ford highlighted diabetes as a key area for near-term growth. Specifically, in the presentation transcribed by SeekingAlpha, Ford said he expects the FreeStyle Libre continuous glucose […]
Dexcom submits new glucose sensor to FDA, expects launch this summer
Dexcom (Nasdaq:DXCM) announced that it submitted its new Stelo glucose sensor to the FDA for review at the end of last year. The continuous glucose monitor (CGM) maker designed Stelo specifically for people with type 2 diabetes who do not use insulin. San Diego-based Dexcom designed Stelo for a 15-day wear with a cash-pay option. […]