Valeritas (NSDQ:VLRX) said today that its V-Go insulin delivery device won preferred status on Humana’s Part D formularies.
The Bridgewater, N.J.-based company’s device is designed for people with Type 2 diabetes. Worn like a patch, the V-Go product delivers a continuous preset basal rate of insulin over 24 hours and can also provide on-demand bolus dosing at meals.
“We are very excited that V-Go is now Preferred on Humana’s Medicare formularies, which will improve patient access to V-Go at an affordable monthly copay for its members with Type 2 diabetes,” Valeritas CEO John Timberlake said in prepared remarks.
Last year, Valeritas launched its V-Go device in Australia, New Zealand and Italy.
The company also topped expectations on Wall Street with its third-quarter financial results in November, posting a net loss of -$11.5 million on sales of $6.9 million.
Analysts predict Valeritas will post fourth-quarter sales of $6.8 million. VLRX shares closed yesterday at 38¢ apiece, up 10.3%.
