Smiths Medical exits insulin pump biz
This article was originally published in The Gray Sheet
Executive Summary
UK firm will stop selling its Deltec Cozmo insulin pumps and exit the business, citing "shrinking market share" and a lack of "synergy" with other Smiths Medical offerings. Insulin pumps are the firm's only direct-to-consumer enterprise, and "the market has evolved from a familiar hardware-plus-disposables model to an integrated diabetes management model that would require significant ongoing investments in continuous glucose monitoring," Smiths Medical explains March 25. The Smiths pump business generated about $49 million in sales in 2008, representing about 3%-4% of the worldwide market, according to J.P. Morgan analyst Michael Weinstein. Large players include U.S. market leader Medtronic, as well as Johnson & Johnson
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