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BRIEF-Ypsomed to separate from Insulet
July 21, 2017 / 5:14 AM / 5 months ago

BRIEF-Ypsomed to separate from Insulet

July 21 (Reuters) - YPSOMED HOLDING AG:

* TO SEPARATE FROM INSULET AND EXTEND ITS PORTFOLIO WITH AN OWN PATCH PUMP IN MID-TERM

* AFTER 30 JUNE 2018, INSULET CORP. WILL TAKE OVER OMNIPOD BUSINESS WORLDWIDE

* DETAILS OF TRANSFER PROCESS ARE PRESENTLY BEING WORKED OUT BETWEEN TWO PARTIES

* ‍DISTRIBUTION AGREEMENT WITH INSULET CORP. WILL END AS PER 30 JUNE 2018​

* ‍PARTIES COULD NOT AGREE ON EXTENDING CONTRACT AS PRICE DEMANDED BY INSULET CORP. WOULD HAVE MADE CONTINUED ECONOMIC VIABILITY IMPOSSIBLE​

* IN FUTURE, YPSOMED WILL FOCUS ON ITS OWN DEVELOPMENTS

* IS TO RECEIVE SOME USD 50 MILLION IN COMPENSATION FROM INSULET CORP. TO SET UP EUROPEAN DISTRIBUTION STRUCTURES FOR MYLIFE OMNIPOD Source text - bit.ly/2uglz5D Further company coverage: (Gdynia Newsroom)

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