Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nasdaq  >  Insulet Corporation    PODD

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Insulet Corporation : Insulet Reaches Settlement and Cross-License Agreement With Medtronic

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/26/2013 | 12:04am CET

BEDFORD, MA -- (Marketwired) -- 09/25/13 -- Insulet Corporation (NASDAQ: PODD), the leader in tubeless insulin pump technology with its OmniPod® Insulin Management System, today announced it has reached a settlement agreement with Medtronic MiniMed, Inc.et al. to settle the pending patent infringement lawsuit brought by Medtronic MiniMed against Insulet.

The settlement agreement provides for a cross-license of certain patent claims, as well as an agreement between the companies not to sue the other for patent infringement based on any existing product, or any feature, element or component in any currently existing commercially available products. The agreement also provides for a one-time cash payment from Insulet to Medtronic MiniMed. Insulet expects that this payment, together with legal fees associated with the lawsuit, will result in an expense to the Company of up to $10 million.

"We are satisfied to have settled this patent infringement lawsuit with Medtronic," said Duane DeSisto, President and Chief Executive Officer of Insulet. "This agreement allows us to maintain our focus on the launch of the new OmniPod, which continues to receive an enthusiastic response from both customers and healthcare professionals. In addition, the agreement provides us significant freedom to continue developing the products in our pipeline, including an OmniPod System for the type 2 diabetes market and an OmniPod with integrated continuous glucose monitoring."

About Insulet Corporation
Insulet Corporation (NASDAQ: PODD) is an innovative medical device company dedicated to making the lives of people with diabetes easier. Through its OmniPod Insulin Management System, Insulet seeks to expand the use of insulin pump therapy among people with insulin-dependent diabetes. The OmniPod is a revolutionary and easy-to-use tubeless insulin pump that features just two parts and fully-automated cannula insertion. Insulet's subsidiary, Neighborhood Diabetes, is a leading distributor for diabetes products and supplies, delivered through a high touch customer service model. To read inspiring stories of people with diabetes living their lives to the fullest with OmniPod, visit our customer blog, Suite D: http://suited.myomnipod.com. Founded in 2000, Insulet Corporation is based in Bedford, Mass. For more information, please visit: http://www.myomnipod.com.

Forward-Looking Statement

This press release contains forward-looking statements concerning Insulet's expectations, anticipations, intentions, beliefs or strategies regarding the future, including those related to its expenses associated with the patent infringement lawsuit brought by Medtronic as well as Insulet's future product plans. These forward-looking statements are based on its current expectations and beliefs concerning future developments and their potential effects on Insulet. There can be no assurance that future developments affecting Insulet will be those that it has anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond its control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: risks associated with the Company's dependence on the OmniPod System; Insulet's ability to increase customer orders and manufacturing volumes; adverse changes in general economic conditions; impact of healthcare reform legislation; risks related to the implementation of a national mail-order competitive bid program; Insulet's inability to raise additional funds in the future on acceptable terms or at all; potential supply problems or price fluctuations with sole source or other third-party suppliers on which Insulet is dependent; failure by Insulet to retain supplier pricing discounts and achieve satisfactory gross margins; failure by Insulet to retain key supplier and payor partners; international business risks; Insulet's inability to obtain adequate coverage or reimbursement from third-party payors for the OmniPod System and potential adverse changes in reimbursement rates or policies relating to the OmniPod System; failure to retain key partner payors and their members; failure to retain and manage successfully Insulet'sMedicare and Medicaid business; potential adverse effects resulting from competition with competitors; technological innovations adversely affecting the Company's business; potential termination of Insulet's license to incorporate a blood glucose meter into the OmniPod System; Insulet's ability to protect its intellectual property and other proprietary rights; conflicts with the intellectual property of third parties, including claims that Insulet's current or future products infringe the proprietary rights of others; adverse regulatory or legal actions relating to the OmniPod System; failure of Insulet's contract manufacturers or component suppliers to comply with FDA's quality system regulations, the potential violation of federal or state laws prohibiting "kickbacks" or protecting patient health information, or any challenges to or investigations into Insulet's practices under these laws; product liability lawsuits that may be brought against Insulet; reduced retention rates; unfavorable results of clinical studies relating to the OmniPod System or the products of Insulet's competitors; potential future publication of articles or announcement of positions by physician associations or other organizations that are unfavorable to Insulet's products; the expansion, or attempted expansion, into foreign markets; the concentration of substantially all of Insulet's manufacturing capacity at a single location in China and substantially all of Insulet's inventory at a single location in Massachusetts; Insulet's ability to attract and retain key personnel; Insulet's ability to manage its growth; failure to integrate successfully the Neighborhood Diabetes business; intense competition among distributors of diabetes supplies impairing Neighborhood Diabetes' business; loss by Neighborhood Diabetes of an opportunity to sell insulin pumps supplied by Insulet's competitors; failure by Neighborhood Diabetes to retain key supplier and payor partners; failure by Neighborhood Diabetes to retain supplier pricing discounts and achieve satisfactory gross margins; failure by Neighborhood Diabetes to retain and manage successfully its Medicare and Medicaid business; existence of unanticipated liabilities arising in connection with the Neighborhood Diabetes business; fluctuations in quarterly results of operations; risks associated with potential future acquisitions; Insulet's ability to generate sufficient cash to service all of its indebtedness; the expansion of Insulet's distribution network; Insulet's ability to successfully maintain effective internal controls; the volatility of Insulet's common stock; risks related to future sales of its common stock or the conversion of the 3.75% Convertible Notes due June 15, 2016; potential limitations on Insulet's ability to use its net operating loss carryforwards; anti-takeover provisions in its organizational documents; and other risks and uncertainties described in its Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission on February 28, 2013 in the section entitled "Risk Factors," and in its other filings from time to time with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of its assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Insulet undertakes no obligation to publicly update or revise any forward-looking statements.

Contact:
Stephanie Marks for Insulet Corporation
ir@insulet.com
877-PODD-IR1 (877-763-3471)

Source: Insulet Corporation

News Provided by Acquire Media

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on INSULET CORPORATION
02/17 INSULET : Presents Strong Omnipod® Horizon™ Hybrid Closed-Loop Study Resul..
02/15 INSULET : Completes Acquisition of U.S. Manufacturing Facility in Acton, Massach..
02/13 INSULET : to Present at Upcoming Investor Conferences
02/09 INSULET : to Announce Fourth Quarter and Full Year 2016 Financial Results on Feb..
01/23 INSULET CORPORATION : to Announce Fourth Quarter and Full Year 2016 Financial Re..
2016 INSULET CORPORATION (NASDAQ : PODD) Files An 8-K Entry into a Material Def..
2016 INSULET CORP : Entry into a Material Definitive Agreement (form 8-K)
2016 INSULET CORPORATION (NASDAQ : PODD) Files An 8-K Entry into a Material Definitiv..
2016 INSULET CORPORATION (NASDAQ : ILTCL) Files An 8-K Departure of Directors or Cert..
2016 INSULET CORPORATION (NASDAQ : ILTCL) Files An 8-K Entry into a Material Definiti..
More news
Sector news : Medical Prosthetics
02/16 STRAUMANN : on hunt for 3D printer partner, could take stake - CEO
02/09 Smith & Nephew hurt by tough markets in China and Gulf states
02/02DJBECTON DICKINSON AND : Earnings Jump, and It Raises 2017 Outlook
02/01DJBAXTER INTERNATIONAL : Profit Climbs 19%
01/31DJZIMMER BIOMET : Hip, Knee Businesses Drive Results
More sector news : Medical Prosthetics
News from SeekingAlpha
02/17 Insulet's hybrid closed-loop system performs well in first feasibility study ..
01/31 Movers And Shakers In Diabetes Management - Where Will Medtech In 2017 Take U..
01/06 Premarket analyst action - upgrades
2016 Why WEAR, And Why WEAR It Now?
2016 INSIDERINSIGHTS.COM DAILY ROUND UP 1 : Podd, shak, amid, pjt
Advertisement
Financials ($)
Sales 2016 364 M
EBIT 2016 -6,72 M
Net income 2016 -21,7 M
Debt 2016 63,2 M
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017
EV / Sales 2016 7,33x
EV / Sales 2017 6,29x
Capitalization 2 603 M
More Financials
Chart INSULET CORPORATION
Duration : Period :
Insulet Corporation Technical Analysis Chart | PODD | US45784P1012 | 4-Traders
Full-screen chart
Technical analysis trends INSULET CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 44,0 $
Spread / Average Target -3,0%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Patrick J. Sullivan Chairman & Chief Executive Officer
Shacey Petrovic President & Chief Operating Officer
Michael L. Levitz CFO & Principal Accounting Officer
Michael P. Spears SVP-Quality, Regulatory & Clinical Affairs
Aiman Abdel-Malek Senior VP-Advanced Technology & Engineering
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
INSULET CORPORATION20.30%2 603
MEDTRONIC PLC10.74%108 306
STRYKER CORPORATION5.45%47 109
BECTON DICKINSON AND C..9.27%38 500
BAXTER INTERNATIONAL I..12.16%27 049
ESSILOR INTL.0.37%24 978
More Results