Johnson & Johnson Exits Insulin Pump Market Due to Increased Competition
Animas Corporation to cease operations and sale of insulin pumps.
Animas Corporation, which is part of the Johnson & Johnson (J&J) Diabetes Care Companies, recently announced that it would close its doors and stop selling insulin pumps, including the Animas Vibe and OneTouch Ping, according to a press release.
Animas reported they have selected Medtronic plc to help patients and providers with this transition. Patients who currently have an Animas pump will be offered a Medtronic pump, according to the release.
The company plans to offer customer service, training, and warranty support during the transition period to ensure patients are achieving the optimal results. Additionally, patients will still be able to access supplies used with the pumps.
“We recognize that patients living with diabetes rely on our products to provide critical care, and we want to reassure them that we will be with them every step of the way throughout this transition,” said Valerie Asbury, general manager of Animas. “Our number one priority is ensuring patients have a seamless experience as they transition to Medtronic. For over 30 years, Medtronic has been a global leader in the treatment of those living with diabetes, and we are confident they will provide outstanding support to our patients and their healthcare teams.”
Currently, more than 90,000 patients use Animas pumps and products. The manufacturer advises that patients and providers should explore their transition options.
“We are incredibly grateful to our patients and healthcare partners for the trust, confidence and loyalty they have placed in Animas products over the last 12 years,” Asbury said. “With changing needs of customers, rapidly evolving market dynamics, and increased competitive pressures, it proved too difficult to sustain the insulin pump business and we decided to pursue an exit of the business. This decision was extremely difficult and comes following the extensive exploration of all other viable options for the Animas business.”
A Reuters report said that J&J has been reviewing its strategic options, including selling its diabetes companies, which had a 10.6% decrease in sales compared with the previous year. Animas will be closing due to increased market competition and failing to find a buyer for the company, according to the article.