Ypsomed Divests Pen Needle: Focuses on Insulin Pump Innovation
Thu, Mar 28th 2024
Ypsomed transitions pen needle and BGM business to MTD, channeling investment into expanding Solothurn site and enhancing insulin pump solutions.
(KEYSTONE/Anthony Anex)
Ypsomed, a notable player in the healthcare sector, has divested its pen needle and glucose monitoring systems (BGMs) segment to Medical Technology and Devices S.p.A. (MTD) according to a press release.
This decision is aligned with Ypsomed’s vision to concentrate on advancing and commercialising its cutting-edge mylife Loop insulin pump solution. The transition to MTD, anticipated to finalise in summer 2024, is set to ensure a continuous supply of high-quality pen needles, catering to the global demand from insulin and hormone injectors.
In the interim, Ypsomed will continue manufacturing pen needles under a contract arrangement, facilitating a smooth transition by mid-2025. This business segment, now transitioning to MTD, recorded sales of over CHF 50 million in the fiscal year 2022/23, with a subsequent CHF 18 million in the first half of FY 2023/24.
MTD aims to enrich its portfolio with Ypsomed’s acclaimed click technology and its own 34G pen needle, envisioning expanded market reach and enhanced service to the diabetes community.
Ypsomed is set to channel over CHF 100 million into its Solothurn site over the next four years, boosting autoinjector production capabilities. This expansion will not only augment its manufacturing capacity but also introduce a new injection moulding tool shop, thereby creating numerous job opportunities.
Ypsomed assures its workforce of continued employment and is actively seeking avenues to accommodate all employees affected by the business transition within the group or through partner recruiting agencies.
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