There is a wise sage who says the best way to accumulate a small fortune is to start with a big one. Nowhere is this truer than in our wacky world particularly when it comes to all the toys in the toy chest. Just yesterday we wrote about the earth-shattering news that Bigfoot signed a pen needle deal. We’ve also written about Lilly’s questionable move into the insulin pump market, a market where BD also wants to play. And let’s not forget our friends at Roche as they too play in this sandbox and have a new (well not really) Solo patch pump.
Are we done yet? Fat chance. OnDuo also has patch pump, CellNovo too has a patch pump plus Ypsomed has a conventional pump. And we should not forget Dana Diabecare plays in this sandbox. Oh, hell let’s just say that you can’t swing that poor dead cat without hitting someone who wants to play in this very crowded sandbox.
We should also mention there are 15 or so companies working on that way cool whiz bang connected insulin pen.
So much money has been thrown around in the insulin delivery space Momma Kliff herself has contemplated entering the market. Mom may not be great at coming up with a slick PowerPoint presentation, but she does make great Matzo Ball soup. Plus, unlike everyone in this space she’s got common sense. Mom would also put the patient first making a system that didn’t require an advanced engineering degree to use.
Having common sense and a mean Matzo Ball soup Mom figures that although this market is already dominated by one player and has two other well established players, she can wow investors and get some serious funding. As another wise sage says you can steal more money with a PowerPoint than a gun which loosely translates into Yiddish that you can steal more money with great Matzo Ball soup than a gun.
Mom also knows that the majority of these investors are too lazy to do much due diligence. Have never walked through the insulin pump graveyard nor have a clue what this market is really like. Mom also knows that these investors will continue to pony up money on a regular basis as the company moves from founding, product planning and prototype phases. Heck this is almost better than Sanofi which we thought was the gift that keeps on giving.
Listen Roche spent over a billion for Disetronic and JNJ spent nearly that much so why the hell not. We have no idea how much Bigfoot has raised so far but they alone are conclusive proof that you can steal more money with a PowerPoint than a gun, the real question is can they make a good Matzo Ball soup.
By now your probably getting the picture that when it comes to insulin delivery and insulin pumps in particular, we really don’t need any more toys in the toy’s chest. That the systems we have while not perfect do the job quite nicely. Even better the systems in the pipeline from the established players look very promising, it’s not as if the insulin pump wannabes have something special, although we have not tasted their Matzo Ball soup yet.
Given this set of circumstances we have decided we will change the way we evaluate all the insulin pump wannabees. Since none of them have anything special in terms of technology nor have a clue as to what this market is really like hence going forward, we will judge them on how well they make Matzo Ball soup and since these companies like tilting at windmills we shall hold them to a near impossible standard, Momma Kliff.
Now we know from personal experience we are asking the impossible but then again, these companies are attempting the impossible and seem willing to throw millions to prove that they too can fail. So, what’s the best way to make a small fortune- start with a big one or some Matzo Ball soup.