Insulet and Ypsomed Sign International Distribution Agreement for the OmniPod Insulin Management System
People with diabetes in certain European countries, Australia and China to have access to Insulet’s innovative, tubeless insulin pump for the first time
BEDFORD, Mass. and BURGDORF, Switzerland, Jan. 5 /PRNewswire-FirstCall/ – Insulet Corporation (Nasdaq: PODD), the leader in tubing-free insulin pump technology with its OmniPod® Insulin Management System, and Ypsomed AG (SIX Swiss Exchange: YPSN), a leading independent diabetes specialist and technology provider of innovative injection systems for self-medication in Europe, today announced an exclusive agreement for the distribution of the OmniPod Insulin Management System in nine countries across Europe, as well as China and Australia.
Ypsomed has been a leader in the diabetes industry for over 25 years. The company developed the Disetronic Insulin Pump, which it sold to Roche Holdings AG in March 2003. After the sale, Ypsomed retained its European distribution network and today is a leading distributor of insulin pumps, blood glucose meters and diabetes care supplies. In Germany, Ypsomed has a 40% market share of insulin pump users and access to more than 80% of the insulin pumpers in the country.
“Since gaining our CE Mark approval last year, we have been thrilled with the level of interest in distributing the OmniPod System outside of the United States,” said Duane DeSisto, President and Chief Executive Officer of Insulet. “After an extensive review, we chose Ypsomed as our partner to bring the OmniPod System to key international markets because of their 25 year track record as a leading distributor and technology provider of insulin pumps, blood glucose meters and diabetes care supplies. Ypsomed’s proven expertise and established infrastructure in serving the diabetes community, best positions us to maximize the international opportunity for the OmniPod System.”
According to the agreement, Ypsomed will have the exclusive right to promote, advertise, market, distribute and sell the OmniPod System in eleven countries covered by the agreement, beginning in Germany, France and the United Kingdom in June of 2010. Ypsomed expects to introduce the OmniPod System to Switzerland, the Netherlands, Belgium, the Nordic countries and Australia in the second half of 2010 and in China in the first half of 2011.
“We at Ypsomed are excited and proud to have been selected by Insulet as their exclusive distribution partner for the OmniPod System,” said Simon Michel, Senior Vice President Marketing and Sales of Ypsomed. “We are highly motivated to launch the OmniPod System in Europe and other countries around the world under the mylife™ diabetes care brand. The OmniPod System is an innovative and attractive extension to our mylife™ product portfolio. We expect that over 200 Ypsomed employees will be involved in the promotion, marketing, distribution and sale of the OmniPod System.”