Who deserves a Wacky Award?

Who deserves a Wacky Award?

Since there’s a lull in the news cycle before the ADA annual conference now is a great time to have some fun. The floor is now open for nominations for which company and/or companies deserve a Diabetic Investor Wacky Award. The only request we have is that don’t take the easy way out and put some real thought into this.

Heck we could easily nominate Sanofi (NYSE:SNY) a company who has now become a one-trick pony and that pony is about to be sent to the glue factory. Looking back it amazes Diabetic Investor that at one time this company actually was very public about how they were going to overtake Novo Nordisk (NYSE:NVO) for the top stop in diabetes. We’re not sure what’s the opposite of the Midas touch is but Sanofi sure has it in abundance as everything they done other than Lantus has failed.

Speaking of Novo they aren’t exactly out of the running either. While sales of Victoza have exceeded expectations the company really doesn’t have much going on. Tresiba® is stalled at the FDA yet the company continues to believe that somehow this product will have a meaningful impact to their bottom line. Honestly it would be so refreshing if any of the insulin companies would publicly admit that they are scared to death of generic insulin.

It would also be refreshing if Medtronic (NYSE:MDT), a very worthy candidate, would admit they are very good at killing the goose that lays the golden eggs. That about the only way they will stop Tandem (NASDAQ:TNDM) and Insulet (NASDAQ:PODD) from gaining even more share is either to sue them, buy them or both. A true stunner would be for the company to be honest and admit their now dead patch pump program was really just a ruse.

Collectively it’s way too easy to nominate all the conventional blood glucose monitoring companies. Quite frankly they’ve suffered enough. Although it’s not our nature to do so this is one time we’re letting them off the hook.

The same could be said for the many insulin pump and continuous glucose monitoring wannabes. As we have noted before everyone seems to believe they can build a better mouse trap and honestly even if they could these markets are already overcrowded. Boy would it be nice to just once to here one of these companies admit the only reason they exist is to bilk investors out of millions of dollars, be bought by a larger company and then do it all over again.

We could also nominate all the interconnected diabetes management wannabes. Yes this is the future but that doesn’t mean it will be a pleasant future. While mundane items like being profitable may not matter to these companies, it sure the heck matters if they want to stay in business. About the only business we know of that can continually lose money and stay in business is the US government; and we all know how well run that business is.

Dare we mention a very worthy candidate and this continuing quest to develop an artificial pancreas?  Yep let’s throw millions of dollars and millions of man hours into a project which even if successful will impact a handful of patients. Yes we know in the diabetes world knocking this project is like being against Mom’s and apple pie, but we honestly don’t care anymore. Never have we witnessed any project so consistently over-promise and under-deliver as this one. About the only thing that comes even close is another pipe dream; the quest to develop a non-invasive glucose monitor.

We could nominate AstraZeneca (NYSE:AZN) simply for the fact they turned down $120 billion from Pfizer (NYSE:PFE). By any measure a $120 billion is serious money and we don’t care who you are.

And please no nominations for the diabetes industry as a whole, although it is worthy; or the FDA, a broken agency also worthy of a nomination. Thinking either the industry as whole will get their act together or that the FDA will actually implement true reform is like believing in the tooth fairy or Santa Claus.

We could really get the diabetes world in a lather by nominating the ADA or JDRF, two organizations that are supposed to help patients but seem intent on doing everything but. Isn’t it about time these two children learned to play together? Isn’t it time for them to realize that there millions of patients who need help yesterday? Yes it would be great to find a cure. Yes it would be great to have better drugs and devices. But the truth is many of the projects being funded by these two groups won’t yield results for years, if ever. That doesn’t mean these projects shouldn’t be pursued rather bring some balance to the system by funding projects that will have more immediate impact. Does anyone seriously believe that something like competitive bidding would have passed had patients actually had a voice in the process?

Now we realize that we haven’t left many options hence the reason we are truly looking for creative entries. Its summer time folks have some fun.