How Big is Big
“IDTechEx, expert providers of market intelligence in emerging technologies, have forecast the medical wearables market to be worth $19.7 billion by the year 2024 in their latest research. This market will be driven by the demand for continuous health monitoring and point-of-care diagnostics for the management of chronic diseases.” - BioSpace July 30, 2019 “Every day consumers become more and more connected via their smart phones and other devices for banking,...
No we aren’t making this up
Just this morning after Lilly reported we spent some serious time explaining the complexities of the insulin pump market. Thankfully for Lilly the one path they have chosen not to follow in the device arena is developing one of these stupid patch pumps. Unlike a real insulin pump these systems deliver a preset dose of insulin and have the ability with the touch of button to deliver additional units. The theory...
Why?
Before we get into the gist of today’s post let’s get some numbers out of the way as the results released by Lilly today were pretty damn good. As expected, sales of Trulicity, Jardiance and Basaglar continue to accelerate while sales of Humalog continue to struggle due to continued pricing pressure, nothing new and/or unexpected. The company should also be congratulated for the approval of Baqsimi the first nasally administered glucagon...
Guess we have to
Not sure why but since our chardonnay guzzling friends are still technically in the diabetes business, we should cover their earnings which were announced this morning and which for diabetes flat out sucked. Here are the highlights (well actually the lowlights is more appropriate) from the press release; “In the second quarter, Lantus® sales were €758 million, down 16.2%. In the U.S., Lantus® sales decreased 33.7% to €284 million, mainly reflecting...
BigMouth
When it comes to connected insulin pens Bigfoot BioMedical has been very vocal that they have the best damn thing since sliced bread and soft soap. We don’t share this assessment as about all of these toys do the same damn thing in about the same way. Yes there are minor differences but these differences are truly minor. We have also been very clear that without Lilly, Novo Nordisk or...
$3.6 BILLION
$3.6 Billion that my friends is what Livongo is worth after their historic IPO, $3.6 BILLION. That means right now Livongo a company with a short history, lots of losses in a crowded highly competitive market now has a larger market cap than Tandem ($3.5 Billion). Take a deep breath and think about that for just a moment. Now we all know that Livongo’s market cap can change in a...
A Big Day
Well at long last the wait is over and Livongo is now a publicly traded company. Priced at $28 per share the IPO as expected has gotten off to a big start with recent trades around $41 per share. Regardless of where shares close at today a few things are worthy of mention, some will be obvious others not so, so let’s get right to it. 1. Digital Diabetes is smoking...
It’s a CGM World
Today comes word that Medtronic desperate to save their struggling CGM unit has asked the FDA for an non-adjunctive label for the Guardian™ Sensor 3. Per a company issued press release; “ Medtronic plc (MDT), the global leader in medical technology, services and solutions, today announced its Premarket Approval (PMA) submission to the U.S. Food and Drug Administration (FDA) requesting approval for non-adjunctive labeling for its Guardian™ Sensor 3, as part...
The Supply Chain
As everyone is beginning to learn making reliable accurate glucose sensors isn’t easy, making millions of them is even harder. This is the reason Abbott is investing billions to expand Libre capacity. Dexcom already has a swanky new facility in Mesa but likely will add more capacity to meet their growing demand. Medtronic on the other hand relies on a series of companies when it comes to making their sensors,...
The problem in a nutshell
The CGM space may be hotter than Georgia asphalt but this heat wave can lead to dehydration. One company that’s certainly feeling the heat is Senseonics who yesterday announced they were going back to the capital markets to raise more money. Now we won’t discuss the merits of this fancy financing what we will do is outline the problems facing the company and how their very survival could be...