How will it end?
For a week with no major conferences this sure has been an interesting one. As we head towards the weekend and for our fellow tribe members a New Year the question is how will it end. To say that Livongo has a had a bad week is an understatement. The stock opened on Monday at $23.85 closing yesterday at $17.89, heaven knows where it will trade today. Will at long last that poor dead cat bounce or will he continue to sit by the window?
We haven’t written about Insulet much but damn this company is on a roll. On Monday the company received FDA clearance for an Alternate Controller Enabled Infusion Pump (ACE Pump). In the scope of things we don’t see this a huge event but still it shows how the company continues to kick butt and take names. With the coming of the Control IQ from Tandem and now this the folks in Northridge must be anxious to get this week over with.
Although technically it didn’t happen during the week the folks at Novo Nordisk must be feeling good now that the FDA has approved Rybelsus. Yet we can’t help but feel there is just a slight bit of trepidation for now the hard work begins. Job one is get it on formulary which given how important this drug is to company we don’t see as a problem. Job two however is a little more difficult as they now have to convince physicians and patients the drugs rather complex dosing regimen is worth the effort.
It hasn’t happened yet, but sources indicate we could finally here from the FDA today on Libre2. The question to us isn’t whether the agency approves the Libre2, that we don’t see as a problem. The question is will Libre2 get the coveted iCGM designation. While we don’t see that as a big deal as with or without the designation Abbott isn’t going to change their strategy with Libre and honestly why should they. Still should the agency approve Libre2 without the iCGM designation it would be one of the few setbacks the company has had with Libre.
Come Monday not only will some of us be celebrating a New Year, the third quarter will be ending meaning the big time is coming for med tech companies. The fourth quarter is traditionally the strongest quarter for med tech, and we see no reason why this year will be any different. Tandem has the most riding on the quarter as many expect the Control IQ to be approved during the quarter. Like Rybelsus there is a great deal of anticipation for how well Control IQ will do which could be Tandem’s biggest problem. Just as Novo needs to manage expectations for Rybelsus so too Tandem needs to do the same for Control IQ.
So just one more day and it’s almost time. May it be a Happy, Healthy and Prosperous New Year to all my fellow tribe members.