Tandem Diabetes Care Inc (NASDAQ:TNDM) seeks to get to Health Canada medical device license for its t:slim X2™ Insulin Pump plus Dexcom G5® Mobile CGM integration. The firm intends to release the pump in Canada in 2H2018, dependent on regulatory approvals.
Kim Blickenstaff, the CEO and President of Tandem Diabetes Care, expressed that this application marks as another vital step toward achieving their strategic objective of bringing the advantages of the t:slim X2 Insulin Pump to individuals outside of the U.S. When accessible, the t:slim X2 will offer people in Canada a good choice in the durable insulin pump segment, which they consider will be of specific interest as the single pump with Dexcom G5® Mobile CGM integration.
The firm projects that the t:slim X2 Insulin Pump presented in Canada will be efficient of displaying both French and English, provide a 24-hour clock. It will show glucose readings in mmol/L. Canadian residents can enroll for email updates on Tandem Diabetes’ plans in Canada on company’s official website.
The t:slim X2 Insulin Pump boasts advanced features such as a large color touchscreen, rechargeable battery, Bluetooth® radio, watertight construction and USB connectivity. It is the single pump that combines with Dexcom G5 Mobile CGM, the initial CGM-enabled pump permitted in the U.S. to allow users make treatment choices without pricking the finger.
As per Diabetes Canada, there are over 3.4 million patients with diabetes in the nation. By 2020, diabetes is projected to account for over 3.5% of aggregate public health care spending, making for CAN$16.9 billion in yearly health care costs. Diabetes supplies and insulin pumps marks as a covered benefit for eligible recipients of assistive devices programs, disability tax credit and qualifying expenses for listed disability savings plans provided in different forms across Canadian provinces.
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In the last trading session, the stock price of Tandem Diabetes jumped more than 4% to close the day at $3.24.