I run a diabetes office as MD One of my daughters is a type 1 diabetic She uses the insulet pump Works great I have a small long position here will not sell these law suits often come from frustrated investors. if you have no position here, i would seriously consider taking a modest long position. in a few weeks after the dust settles....IMHO
Also, I'm really surprised this wasn't disclosed in an 8-K or another format, as this is certainly a material event.
"-A University of Chicago law student died after using diabetic test strips that were recalled days after her death, according to a lawsuit filed in Cook County Circuit Court against Chicago-area companies Abbott Laboratories and Walgreen.
Abbie Harper, 23, in her second year of law school, had been diagnosed with Type 1 diabetes as a teenager, according to her family, which filed the suit in late 2014 but chose to speak out publicly Monday.
Harper used Abbott's FreeStyle-brand test strips and a blood glucose meter in conjunction with an OmniPod insulin pump made by Massachusetts-based Insulet, also a defendant, according to the suit. The suit stated that the products gave Harper falsely low glucose readouts for about two days. As a result, she didn't take enough insulin and she died Nov. 14, 2013, according to the suit."
Guilty or not, I'm glad I sold my shares last Friday.
How many patients with a chronic illness do you know that can afford to pay oop for supplies when alternatives are covered by their insurance. Come on now.
I won't take up too much time with my story, but about two years ago I looked into this company as an investment to buy the stock, as I thought it was a great idea which could grow exponentially over time, given the demand and diabetes epidemic globally. Competition, and lack of execution has halted whatever growth they had hoped for, and now given the earnings report, they are way overvalued. This company has a $1.5B market cap, reported a loss, and sees even slower growth going forward. Managed health care is a headwind for this company. They still have a good product, but unfortunately I think the street will reprice the equity very quickly.
Once patients discover the superior aspects of the Omnipod, there will be a tipping point where this company will sustain a flood of orders irrespective of the Dr. / reimbursement ecosystem.
Increase patient's utilization of podds? What a joke. This pump is already more expensive by year three. Good luck in getting insurance to cover this strategic increase in sales and utilization. Why didn't they mention that at least one key health plan has already implemented a limit on the number of podds/month they will authorize? .
Sentiment: Strong Sell
very top heavy co.. Giving out titles like bonuses,... wait a minute..Sheesh