Valeritas (NSDQ:VLRX) has inked an exclusive distribution deal with Movi SpA for the commercialization of its V-Go wearable insulin delivery device in Italy.
According to the terms of the deal, Movi will market and sell the V-Go device to diabetes clinics and patients in Italy, while Valeritas will remain responsible for the product’s development, regulatory approval and manufacturing.
“We are thrilled to have Movi as our partner, and our distribution agreement is a significant first step to expand market access for V-Go Wearable Insulin Delivery device outside of the United States,” Valeritas’ president & CEO, John Timberlake, said in prepared remarks.
“Movi is a trusted and highly respected distributor with a broad customer base and deep knowledge of the needs of people with diabetes. Together with Movi’s extensive sales and support network, we aim to help eliminate the need for patients with Type II diabetes in Italy to take multiple daily insulin injections through the use of our simple, fully disposable insulin delivery device.”
“We are very excited to start this new collaboration with Valeritas with whom we share the enthusiasm of starting up operations, curiosity in the new market opportunities and a strong will in making this deal very successful,” Enrico Piero Bassani, Movi’s president, added. “We thank Valeritas for choosing us as their exclusive distribution partner for Italy, and we are very proud to be the first Valeritas distribution company in Europe. We strongly believe in the utmost quality of V-Go and the professionalism of the Valeritas organization, which are both very important factors for building a long-term business relationship.”
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