Sam Brusco, Associate Editor02.24.22
Insulet Corporation yesterday released financial results for the fourth quarter and full year 2021. The company reported $1.1 billion of full year revenue, an increase of 21.5 percent over the previous year. $307.7 million of that was generated in the fourth quarter, which represented a 25 percent rise over the same period in 2020.
$1 billion of the revenue came from the company’s Omnipod tubeless insulin pump, which ballooned 21.1 percent over the year prior. U.S sales made up $651.5 million (a 23.6 percent rise) and international sales totaled $359.9 million (a 16.9 percent rise). The remainder was made up of $87.4 million in drug delivery sales, representing a 25.8 percent increase.
Topping $1 billion in revenue last year exceeded Insulet’s five-year target. This is the sixth consecutive year the company has posted over 20 percent sales growth.
“2021 was another successful year for Insulet, as we reached an important milestone of over $1 billion in revenue and advanced our strategic priorities,” Insulet president and CEO Shacey Petrovic told the press. “We entered 2022 with significant momentum and expect continued strong growth. We are incredibly excited about the commercial launch of Omnipod 5, which is a transformative technology offering users award-winning innovation, improved outcomes and quality of life. Our commitment to improving the lives of people with diabetes has never been stronger.”
Insulet also recently completed the Omnipod 5 early feasibility study for type 2 diabetes and submitted it for CE marking under the EU MDR. The company also submitted Omnipod 5 preschool pivotal study data to the U.S. Food and Drug Administration (FDA) for children aged two to six.
$1 billion of the revenue came from the company’s Omnipod tubeless insulin pump, which ballooned 21.1 percent over the year prior. U.S sales made up $651.5 million (a 23.6 percent rise) and international sales totaled $359.9 million (a 16.9 percent rise). The remainder was made up of $87.4 million in drug delivery sales, representing a 25.8 percent increase.
Topping $1 billion in revenue last year exceeded Insulet’s five-year target. This is the sixth consecutive year the company has posted over 20 percent sales growth.
“2021 was another successful year for Insulet, as we reached an important milestone of over $1 billion in revenue and advanced our strategic priorities,” Insulet president and CEO Shacey Petrovic told the press. “We entered 2022 with significant momentum and expect continued strong growth. We are incredibly excited about the commercial launch of Omnipod 5, which is a transformative technology offering users award-winning innovation, improved outcomes and quality of life. Our commitment to improving the lives of people with diabetes has never been stronger.”
Insulet also recently completed the Omnipod 5 early feasibility study for type 2 diabetes and submitted it for CE marking under the EU MDR. The company also submitted Omnipod 5 preschool pivotal study data to the U.S. Food and Drug Administration (FDA) for children aged two to six.