Valeritas (NSDQ:VLRX) touted data today from a publication detailing the benefits of diabetes medication delivery devices, such as the company’s V-Go insulin delivery system. The article was published in the journal Managed Care.
The Bridgewater, N.J.-based company’s V-Go device is a wearable, basal-bolus insulin delivery system for patients with Type II diabetes. Patients can administer a continuous, preset basal rate of insulin over 24 hours, Valeritas said, with on-demand dosing at meals.
The article’s author, Dr. Bruce Sherman, argued that despite the uptick in initiatives relating to diabetic patients and health care systems, there are data showing that less than half of the people with diabetes have the disease under control. Sherman also points out that the proportion of patients with controlled diabetes is falling, even though medication use is up compared to previous years.
The article compared a variety of different diabetes medication delivery devices to standard delivery approaches, such as a syringe or pen. Sherman concluded that drug-delivery devices may be able to boost adherence and lower costs, writing that, “plan sponsors will benefit from consideration of…drug-delivery devices as part of an expanded approach to effective diabetes management. Inclusion of these offerings as part of the pharmacy benefit may improve adherence because PBMs [pharmacy benefit managers] traditionally focus on medication adherence and may also lower acquisition costs for both patients and plan sponsors.”
“Despite significant resources directed toward diabetes care, including a large number of drug products and managed care programs to improve patient access to medicines, many patients with diabetes still do not reach their treatment goals,” Valeritas president & CEO John Timberlake said in prepared remarks. “This article reviews how diabetes medication delivery devices, including V-Go wearable insulin delivery device, improved treatment outcomes and reduced both short-term pharmacy costs and longer-term healthcare costs. We have worked diligently to demonstrate the value of V-Go to patients, their physicians and payers through the execution of numerous clinical studies and we are gratified by the recognition of that work. Diabetes is a costly chronic illness and we will continue to work with payers to adopt V-Go on their pharmacy formulary which will simplify and broaden access to V-Go to improve A1c outcomes at a lower cost to the employers and their insured population.”
Valeritas disclosed that it provided a grant for the preparation of the article.
In March, the company priced its upcoming initial public offering, looking to raise $52.5 million by selling 5.25 million shares at $10 apiece.
The offering includes a 30-day underwriters option for the purchase of an additional 787,500 shares, which would take the total funding possible in the round to nearly $60 million.