Ypsomed announced today that Eli Lilly (NYSE:LLY) elected to stop their joint project to enter the U.S. insulin pump market.
In November 2020, the companies entered into a commercialization agreement. The agreement entailed registering and commercializing Ypsomed’s YpsoPump under Lilly’s branding in the U.S. Ypsomed said that, over the past two years, it customized its pump for the U.S. market in preparation for commercialization. Burgdorf, Switzerland-based Ypsomed launched its Mylife YpsoPump in Europe in 2016.
According to a news release, it plans to continue its development program for the U.S. pump. The company said it intends to deepen discussions with other interested parties.
YpsoPump features a prefilled cartridge and a state-of-the-art automated insulin delivery system. The company plans to submit the pump to the FDA in the second half of 2023. It expects commercialization to come with a new partner thereafter.
Burgdorf – Eli Lilly and Co. (NYSE: LLY) decided to fully focus on its successful drug portfolio. Therefore, Lilly elected to stop the joint project with Ypsomed (SIX: YPSN) to enter the U.S. insulin pump market. Ypsomed plans to submit its YpsoPump system to the FDA in the second half of 2023 according to plan, and subsequently commercialize the system with a new partner.
“The commercial success of mylife Loop with YpsoPump in Europe demonstrates its high acceptance amongst people with diabetes,” Ypsomed said in the news release.
