Insulet Corporation, the leader in tubeless insulin pump technology with its Omnipod Insulin Management System, has announced plans to establish an automated manufacturing operation in the United States and to build product beginning in 2019.
The new U.S. operation is intended to provide manufacturing redundancy and additional production capacity to support growth and new product launches. The new operation will enable further improvements of manufacturing reliability and the lowering of production costs, in line with the company’s previously stated objectives.
“The establishment of our U.S. manufacturing operation will support our goal to be a world-class high-quality, high-volume, low-cost manufacturer. We are making this investment to provide redundancy and additional capacity to support our exciting growth plans,” said Patrick Sullivan, president and CEO. “This highly-automated operation will accelerate efficiency and effectiveness of our global manufacturing operations and supply chain and help pave the way to gross margin of over 65 percent in the coming years.”
About Insulet Corporation
Insulet Corporation is an innovative medical device company dedicated to making the lives of people with diabetes easier. Through its Omnipod Insulin Management System, Insulet seeks to expand the use of insulin pump therapy among people with insulin-dependent diabetes. The Omnipod is a revolutionary and easy-to-use tubeless insulin pump that features just two parts and a fully-automated cannula insertion. Insulet’s Delivery Systems business also partners with global pharmaceutical and biotechnology companies to tailor the Omnipod technology platform for the delivery of subcutaneous drugs across multiple therapeutic areas. Founded in 2000, Insulet Corporation is based in Billerica, MA. For more information: http://www.myomnipod.com.
(Source: Business Wire)