Valeritas (NSDQ:VLRX) said today that it signed an exclusive distribution deal with Julphar for the commercialization of its V-Go wearable insulin delivery device in the member states of the Gulf Cooperation Council.
Valeritas has deals in place to bring its V-Go device to 14 countries and territories, including Australia, Slovenia and Puerto Rico. The company is also working to win regulatory approval for the product in China.
“Diabetes is now a worldwide epidemic. Currently, 425 million people suffer with diabetes, and that number is expected to grow to 629 million,” president & CEO John Timberlake said in prepared remarks. “For many patients with diabetes around the world, being able to adhere to a daily insulin routine of multiple injections using insulin pens and syringes is a significant challenge.”
“Studies have consistently demonstrated that patients who switched from injection therapy to the wearable V-Go significantly lowered blood glucose and used less insulin. V-Go is discreet, simple-to-use, cost-effective, clinically proven, and the only disposable, daily insulin delivery option available today. We are excited to partner with Julphar and with the prospect of making V-Go available to diabetes patients in the GCC,” he added.
“The prevalence of diabetes in the GCC is among the highest in the world, and it is growing at an astonishing rate. As a leader in the manufacture of insulin, Julphar has a responsibility to not only raise awareness of the risk factors, but to provide effective solutions,” Julphar’s GM Jerome Carle said. “We are always exploring new, innovative, and affordable options such as mobile tech, wearables, and other tools, so partnering with Valeritas to bring the wearable V-Go to the region made perfect sense. This easy to use, wearable device will help empower diabetes sufferers to take control of their condition and manage their own day-to-day care.”
Last week, Valeritas topped expectations on Wall Street with its third-quarter financial results.
