(Reuters) – Insulin pumps maker Insulet Corp said on Thursday a new generation of diabetes drugs, known as GLP-1s, could delay the time that diabetes patients become dependent on insulin, sending its shares down 10%.
CEO James Hollingshead said at the Wells Fargo Healthcare Conference the company does not expect its long-term market for insulin pumps to be impacted.
“What we might see is GLP-1s impacting the time to progression on the insulin therapy,” said Hollingshead.
Insulet manufactures and sells insulin delivery devices, under ‘Omnipod’ brand, which eliminate the need for multiple daily injections for people with insulin-dependent diabetes.
(Reporting by Bhanvi Satija in Bengaluru; Editing by Anil D’Silva)
