Class-Action Suit Alleges Medtronic’s Rosy Forecast For MiniMed780G Misled Investors
The lawsuit says that Medtronic continued to predict that the new insulin pump would be FDA-approved shortly, even as other regulatory issues and recalls in the diabetes division made that less likely.
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Insulin pumps have lagged behind continuous glucose monitors in terms of market penetration due to their cost and the complex regulatory framework that surrounds them. Elizabeth Gasser, chief strategy officer at Tandem Diabetes spoke to Medtech Insight about these challenges and how the company is taking a slightly different approach to pumps.
Ohad Cohen, director of medical affairs for Medtronic Diabetes EMEA, talked to Medtech Insight about the published results from the ADAPT trial, which showed that Medtronic’s advanced hybrid closed loop insulin delivery technology provides better glycemic control than standard therapies.
During its recent quarterly earnings call, Medtronic CEO Geoff Martha reiterated that the company expects to announce changes over the next year that will help it drive growth and shareholder value. Analysts suspect Medtronic’s struggling diabetes business is probably the top candidate for a sale.