Valeritas Announces V-Go Distribution Agreement in Italy With Movi SpA

Valeritas Holdings Inc., a medical technology company offering type 2 diabetics V-Go Wearable Insulin Delivery device, has signed an exclusive distribution agreement with Movi SpA for the commercialization of V-Go Wearable Insulin Delivery device in Italy. Under terms of the agreement, Valeritas has granted Movi the rights to promote, market, and sell the company’s flagship product V-Go Wearable Insulin Delivery device to diabetes clinics and patients in Italy.
 
“We are thrilled to have Movi as our partner, and our distribution agreement is a significant first step to expand market access for V-Go Wearable Insulin Delivery device outside of the United States,” said John Timberlake, CEO and president of Valeritas. “Movi is a trusted and highly respected distributor with a broad customer base and deep knowledge of the needs of people with diabetes. Together with Movi’s extensive sales and support network, we aim to help eliminate the need for patients with type 2 diabetes in Italy to take multiple daily insulin injections through the use of our simple, fully disposable insulin delivery device.”

Valeritas will retain responsibility for product development, regulatory approval, quality management, and manufacturing while Movi will be responsible for sales, marketing, customer support and distribution activities in Italy.
 
“We are very excited to start this new collaboration with Valeritas with whom we share the enthusiasm of starting up operations, curiosity in the new market opportunities and a strong will in making this deal very successful,” said Enrico Piero Bassani, president of Movi. “We thank Valeritas for choosing us as their exclusive distribution partner for Italy, and we are very proud to be the first Valeritas distribution company in Europe. We strongly believe in the utmost quality of V-Go and the professionalism of the Valeritas organization, which are both very important factors for building a long-term business relationship.”
 
Valeritas is a commercial-stage medical technology company developing and commercializing diabetes treatment technologies. Valeritas’ flagship product, V-Go Wearable Insulin Delivery device is a  basal-bolus insulin delivery option for type 2 diabetics that is worn like a patch and can eliminate the need for taking multiple daily shots. V-Go administers a continuous preset basal rate of insulin over 24 hours and it provides discreet on-demand bolus dosing at mealtimes. It is the only basal-bolus insulin delivery device on the market today specifically designed keeping in mind the needs of type 2 diabetics. Headquartered in Bridgewater, N.J., Valeritas operates its R&D functions in Marlborough, Mass.