New PDM/Pod info from Q1 2011 Insulet Corporation Earnings Conference Call
The entire audio recording can be heard at http://phx.corporate-ir.net/phoenix.zhtml?c=209336&p=irol-event...
Here is some stuff I found interesting...
MM:SS
08:08 "As our partner, Dexcom, noted on their conference call last week, we are in the early stages of development of an integrated system that utilizes our next generation pod and their fourth generation sensor. We anticipate that an FDA submission could occur sometime in the first half of 2012."
17:00
Question: "Does the next generation pod require a new PDM, or can patients use the existing one?"
Answer: "It requires a new PDM." ***note - don't panic--read q&a @ 29min below...***
21:04 "We believe our next generation product will be a 2012 event..." "I think as we get a little more definitive on the timeline we will articulate to the market...that we'll have an upgrade strategy. ...We have the capability of forcing the upgrade strategy on the market and what we will do is probably do it in first come, first served fashion... get in the queue, get on the product... It's a little different in Europe because everything is going through A distributor ...so they have a supply chain... they know what's going on in the individual countries, plus the backlog... that one we're trying to time a little bit better. The US market, we will articulate as soon as we get a clear understanding of the timeline, we will clearly articulate to the market what the upgrade strategy is. ...the first people on our product will be the first people to get the next generation."
29:
Question: "When you start shipping, will Abbott pay for some of those upgrades? How's that going to work? Are they going to cover that cost for you? Or is this going to be the patient will have to upgrade... if they are on a gen 1, or they bought in the last 12 months... into an upgrade program, what are you thinking at this point?"
Answer: "What we're planning on doing is we ultimately want everybody to have the benefit of this new product. Certainly there is some financial benefit for us to do so, so we will ultimately, over a period of time like a six to 12 month roll out, once we launch, here in the US for example, effectively move everybody over to the new product, so we will supply the customer with a brand new hand-held (PDM) to accompany the new product. Keep in mind that the savings that we will generate on that first reorder is enough to effectively offset the cost of the hand-held (PDM). So in the first quarter of launch there won't be any margin improvement because they'll net each other to zero, but beyond that, we will receive all the margin improvement that we've been talking about. From an ROI perspective, that's a pretty quick payback."
Here is some stuff I found interesting...
MM:SS
08:08 "As our partner, Dexcom, noted on their conference call last week, we are in the early stages of development of an integrated system that utilizes our next generation pod and their fourth generation sensor. We anticipate that an FDA submission could occur sometime in the first half of 2012."
17:00
Question: "Does the next generation pod require a new PDM, or can patients use the existing one?"
Answer: "It requires a new PDM." ***note - don't panic--read q&a @ 29min below...***
21:04 "We believe our next generation product will be a 2012 event..." "I think as we get a little more definitive on the timeline we will articulate to the market...that we'll have an upgrade strategy. ...We have the capability of forcing the upgrade strategy on the market and what we will do is probably do it in first come, first served fashion... get in the queue, get on the product... It's a little different in Europe because everything is going through A distributor ...so they have a supply chain... they know what's going on in the individual countries, plus the backlog... that one we're trying to time a little bit better. The US market, we will articulate as soon as we get a clear understanding of the timeline, we will clearly articulate to the market what the upgrade strategy is. ...the first people on our product will be the first people to get the next generation."
29:
Question: "When you start shipping, will Abbott pay for some of those upgrades? How's that going to work? Are they going to cover that cost for you? Or is this going to be the patient will have to upgrade... if they are on a gen 1, or they bought in the last 12 months... into an upgrade program, what are you thinking at this point?"
Answer: "What we're planning on doing is we ultimately want everybody to have the benefit of this new product. Certainly there is some financial benefit for us to do so, so we will ultimately, over a period of time like a six to 12 month roll out, once we launch, here in the US for example, effectively move everybody over to the new product, so we will supply the customer with a brand new hand-held (PDM) to accompany the new product. Keep in mind that the savings that we will generate on that first reorder is enough to effectively offset the cost of the hand-held (PDM). So in the first quarter of launch there won't be any margin improvement because they'll net each other to zero, but beyond that, we will receive all the margin improvement that we've been talking about. From an ROI perspective, that's a pretty quick payback."
Tags: aeros, gen, next, pod, smaller
Replies to This Discussion
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Permalink Reply by Sarah Russo on -
Thank you for sharing the highlights!
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Permalink Reply by Brian Gardner on -
Thank you for the post!
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Permalink Reply by Tonya H on -
Thank you so much for posting this! We've been wondering when the 'new, smaller' pod will be coming out. :)
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Permalink Reply by Don on -
Insulet's long term future is looking better if new pods are cheaper enough for them to manufacture that it can cover the cost of handing out new PDM's! What if new pods are more reliable? That would be sweet.
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Permalink Reply by DBolding on -
Im keeping my fingers crossed the pods are more reliable than the current ones, had 7 failed this month!
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Permalink Reply by Erik on -
Insulet benefits greatly from reduced defects, both from a profit standpoint, and a public relations standpoint (we are part of their sales force) so I'm sure they are constantly trying to improve quality. They are using the same manufacturing partner for the new as the old, but perhaps design improvements will result in higher reliability.
Sounds like your pods were part of a defective lot, or they were exposed to something (heat, radiation, who knows) that made them fail. I haven't had 7 failures in the last year. I trust they were replaced for free? -
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Permalink Reply by DBolding on
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They were replaced for free, funny thing is, 5 of them were from one batch, then the other 2 were from the replacements sent, lol. I have had LOADS fail! I do not know if UK ones are made different to US ones? to be honest Omnipod is lucky they are the only patch pump at the moment as I just could not see myself going back to a tubed pump!
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Permalink Reply by Kimberly on -
Lots of folks in the US had a ridiculous number of pods fail after receiving their shipments during the horrible cold temps that most of the country had during January and February. I've kind of convinced myself that the temperatures outside while your box is sitting at the doorstep and the temps inside the shipping facilities and trucks greatly affect the functioning of the pods.
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Permalink Reply by DBolding on
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It could of been all of that, the weather has been great in the UK, but then I do not know where the pods have been sitting before they reached me ;o\ oh well, lol
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Permalink Reply by Jan on -
So.....when are the new 30% smaller Pods coming??? Early 2012 or later part of 2012? Did the FDA ever give their final approval for the smaller Pod?
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Permalink Reply by Erik on
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It depends on the FDA. Insulet submitted multiple copies (300 lbs worth) of a 7,800 document which addressed what the FDA needs to know to grant approval. Insulet believes it will occur in 2012, but can't say precicely when because it's not up to them.
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Permalink Reply by Kate on -
I just saw this post on facebook: "New pods are shipping out this summer. They're 1/3 smaller, have transparent adhesive, and have a blue canula. Team Type 1 is currently testing them. The new PDM will look very similar but will be able to receive readings from the Dexcom CGM."
I don't want to yell "Fire!" in any theater, but there is massive amounts of mis-info be thrown around... -
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