Minute Insight: Insulet Acquires Insulin Pump Patents From Bigfoot, AGC
Insulet will acquire insulin pump patents from Bigfoot Biomedical for $25m, which Bigfoot will use to expand its Unity diabetes management system. Insulet also announced the acquisition of automated insulin delivery assets held by Automated Glucose Control.
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Insulet Corporation has recalled its Omnipod 5 App for Android smartphones due to a software error that could throw off the accuracy of insulin dosing by as much as one hundred times the intended amount.
Abbott and Bigfoot Biomedical have worked as partners for more than half a decade but will now continue as one. Analysts are questioning whether the merger will simply be a tuck-in for Abbott, or enable it to release an insulin pump of their own.
Roche received FDA clearance for its Solo insulin patch pump, but is expected to face significant barriers to entry in the highly competitive US insulin pump market.