The Corporate Frog Awards

The Corporate Frog Awards

It has become an annual event at Diabetic Investor to issue awards at the end of each year to those companies in the diabetes space who have done something truly outstanding or stupid. Yet, until today we never had a name for these awards after all what good is earning recognition if the company can’t go around bragging that they earned one. Therefore starting this year Diabetic Investor has decided to call our annual awards; The Corporate Frog Awards.

For anyone who is unfamiliar with the story of the Corporate Frog here goes.  Normally if you put a frog in a pot of warm water that’s getting warming a normal frog will do the obvious – get the hell out of the heat and into a cooler location. Not the Corporate Frog, nope a corporate frog besides jumping from lily pad to lily pad in search of a strategy, will sit around in the ever hotter water wondering just what the heck is going on. Unable to comprehend the fact the world is changing before their very own eyes and unwilling to realize that if they don’t get out of the soon to be boiling water they will be  a dead frog, they do nothing and end up as tasty dish and get eaten.

Our first Corporate Frog award goes to our friends at Insulet (NASDAQ:PODD) who don’t seem to realize that insulin pump patients want reliability and dependability and don’t like it all that much when their pods keep failing.  Nor is it a good idea to have your partner come out with a great new test strip and then not get this new strip for use with your PDM. This is especially problematic when you consider that because of their blunder their patients are having a hard time finding strips that are approved for us with the PDM. For a company that has innovative product, the folks at Insulet seem to be going out of their way to ruin what could have been a really good thing.

Our second Corporate Frog award goes to the Big Four glucose monitoring companies, LifeScan, Abbott (NYSE:ABT), Roche and Bayer. Companies who are largely responsible for the dismal state of the BGM market; companies who just can’t get it threw their thick heads that pretty colors don’t make patients test more frequently and that advanced technology really doesn’t matter all that much when the majority of patients still have no idea what the results means or how they should these results to help them more effectively manage their diabetes. Void of any new ideas and unable to get away from the failed strategies of the past they do what all Corporate Frogs do, follow a slash and burn strategy cutting costs wherever they can in a desperate attempt to keep their one fat and now declining margins.

Our third Corporate Frog goes to the many researchers who know nothing about diabetes yet continue to publish dubious research that is really based on nothing more than supposition rather than true scientific evidence.  Not only is their research highly suspect, unable to duplicate and unable to withstand scrutiny the mere publication of this flawed research creates an unnecessary burden for drug companies, physicians and ultimately the patient with diabetes. Actually they should share this award with publications who print this garbage without performing the slightest due diligence.

Our fourth Corporate Frog goes to the FDA who continues to fumble about and can’t seem to make a cup of hot tea without screwing things up. Yes here we have an agency that seems to believe patients with diabetes are like heroin addicts recklessly sharing their used lancets and bloody glucose monitors. An agency that does not seem to understand the rather simple concept of risk/reward and appears utterly clueless that diabetes is growing at epidemic rates, creating a healthcare and economic crisis and we need more not less weapons to fight this epidemic.

Our fifth and final Corporate Frog goes to many large companies in the diabetes space who just can’t get out of their own way. These diabetes behemoths that spend endless hours in meetings discussing “process” and don’t seem to realize that by the time they get around to making a decision and actually doing something that this supposed brilliant strategy is already outdated because it took them forever to make a damn decision. These diabetes behemoths that just can’t or won’t see what’s going on in the real world and continue to live in the past failing to realize that what worked years ago just won’t work today.

For all the awards recipients Diabetic Investors offers a hearty congratulations for a job well done and an award well earned.  Ribit!