A stunner

A stunner

This morning Diabetic Investor received word from privately held Intuity Medical that their all-in-one glucose monitor had finally at long last received FDA approval. According to a company issued press release;

“Intuity Medical, Inc., a privately-held company developing innovative technologies for diabetes management, announced today that it has received clearance from the U.S. Food and Drug Administration (FDA) to market the POGO® Automatic™ Blood Glucose Monitoring System. The POGO System is the first blood glucose meter and multi-test cartridge to provide automatic testing with lancing, blood collection and analysis in one easy step. By combining all of the necessary blood glucose testing supplies into a convenient, self-contained 10-test cartridge, POGO provides ease of use and discretion for millions of patients who need to regularly test their blood glucose in the management of their diabetes.”

Given how long Intuity has been trying to get the Pogo approved there may be some who aren’t familiar with this device. (http://www.presspogo.com) This prompted Diabetic Investor to get into the wave back machine and search our archives to see when we first started writing about Intuity and the Pogo. Near as we can tell we started writing about Intuity way back in June 2010, yep almost 6 years ago. To say that the glucose monitoring market has undergone a major transformation since that time is the biggest understatement in diabetes.

Back in 2010 competitive bidding had not yet reared its ugly head nor had all these way cool whiz bang cloud enabled systems been around. Just to put into perspective what the world looked like back in June of 2010 here is what we wrote way back then;

“Believe it or not there was actually some good news in the conventional blood glucose monitoring space and not from the usual suspects. One of the more crowded booths at the show was that of Intuity Medical and their all in one device which they are now calling the Pogo. In an ironic twist of fate, the Intuity booth was located directly across from AgaMatrix, normally a hotbed of activity yet for this year’s shows was eerily quiet.”

Again given that this was way back in 2010 some may not be familiar with AgaMatrix either, another BGM company that came on like gang busters, raised millions, appeared to destine for greatness only to fizzle out and fall into obscurity. A fate even with this approval Intuity may be headed for, not because the Pogo is not a good device, rather because how dramatically this market has changed over the past 6 years. Even in the hands of a larger player it’s difficult seeing the Pogo gaining much traction in the market, a problem given the systems higher than average manufacturing costs.

The harsh reality is the BGM market has fully transformed itself into a commodity market and price is the only thing that matters.  That it is next to impossible for any company who does not have massive scale to make a buck. This is why all these newcomers who have whiz bang way cool cloud enabled systems have an uphill fight on their hands no matter how cool their systems are. Listen given how much we have written about this market there is no need to repeat what is becoming more obvious by the day, when it comes to BGM the party is over and the hangover is big one.

Still we want to pass along our congratulations to the good people at Intuity, as we know how hard you worked to get the Pogo though the FDA. It’s not your fault the FDA made you jump through more hoops than Minnesota has lakes. Nor is it your fault that the BGM market has collapsed over the past 6 years and there is no hope for turnaround. Hopefully this approval will lead to what you wanted all along, what every company with a way cool whiz bang device wants, to get acquired. Knowing what you have been through we hope this happens and given this is the wacky world of diabetes where anything can and usually does happen it wouldn’t surprise us one bit. As Momma Kliff was fond of saying; “There is no cure for stupid.”