Tandem Diabetes Care (NSDQ:TNDM) has signed a distribution deal with Movi SpA to commercialize Tandem’s t:slim X2 insulin pump in Italy.
The San Diego, Calif.-based company said today that Movi is slated to run sales, marketing and customer training for Tandem’s products in Italy, according to the terms of the agreement.
“Partnering with experienced insulin pump distributors is key to our international commercialization strategy as we work to expand available insulin pump options for patients and healthcare providers worldwide,” president & CEO Kim Blickenstaff said in prepared remarks. “Movi shares in our passion to help improve the lives of people with diabetes, and we look forward to working with them to bring the t:slim X2 Insulin Pump to the diabetes communities in Italy.”
“We are proud to offer the t:slim X2 Insulin Pump to people with Type I diabetes and healthcare providers in Italy, to provide an innovative and reliable alternative to the current market option,” Movi’s president, Enrico Piero Bassani, added. “We thank Tandem Diabetes Care for trusting us as their distributor for Italy, and we look forward to bringing the benefits of Tandem’s products to the patients and clinics that we service.”
Movi also distributes Valeritas‘ (NSDQ:VLRX) V-Go insulin delivery device in Italy.
Last month, Tandem topped expectations on Wall Street with its fourth quarter and full-year results. The company reeled in its losses in Q4, posting a net loss of -$11.4 million on sales of $40.3 million for the 3 months ended Dec. 31, for sales growth of 39% compared with the same period last year.
Adjusted to exclude 1-time items, earnings per share were -$1.23, ahead of consensus on The Street, where analysts were looking for sales of $38 million.
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