Advancements in Diabetes Technology: A Look Back at 2022 and Ahead to 2023

Diabetes continues to be one of the most prevalent chronic diseases worldwide, and the demand for diabetes drugs and devices remains high. In 2022, the diabetes technology industry saw a variety of new advancements. Next-generation technologies, clinical trial results, and potential spinouts and acquisitions all contributed to the excitement of the year. Although some companies have already launched their products, there are still many opportunities for others to rise to the challenge in 2023.

Two companies that could potentially have a big impact on the diabetes technology industry in 2023 are EOFlow and Tandem Diabetes Care. EOFlow, a Korea-based company, has applied its EOPatch wearable insulin pump to the FDA for approval and is also partnering with Diabeloop to bring EOPatch to Europe. Meanwhile, Tandem Diabetes Care made two notable acquisitions in 2022: Capillary Biomedical, a developer of infusion sets, and AMF Medical, the maker of the Sigi patch pump for insulin delivery. With these developments, both EOFlow and Tandem Diabetes Care are poised to make significant contributions to the diabetes technology market.
Beta Bionics is also preparing to launch its iLet bionic pancreas system, hiring Dr. Steven Russell as its new CMO to help with the commercial release. Finally, both Eli Lilly and Ypsomed are expected to make more developments on the insulin pump front.

All these developments have led to a steady stream of financial deals in the pharmaceutical industry related to diabetes drugs and devices. Some recent examples include the acquisition of Medtronic's Diabetes division by Blackstone in 2021, as well as Lilly's agreement to sell its dry nasal spray, Baqsimi, to Amphastar Pharmaceuticals for $500 million in 2022. Other recent examples include:

Cipla, a pharmaceutical company based in India, has made a deal with Novartis Pharma, a Swiss drugmaker, to manufacture and sell the diabetes drug Galvus and its combination brands. This agreement starts from 1st January 2026. Galvus is a medication used to treat patients with type 2 diabetes. The agreement depends on certain conditions that must be met, but Cipla will continue to produce and sell Galvus-branded products in the meantime. Galvus is an oral medication used to regulate blood glucose in type 2 diabetes patients when diet and exercise are not enough. It can be used alone or with other medications such as insulin. With reported sales of $32.7m, Galvus is expected to improve Cipla's diabetes care offerings and reinforce its standing in India's diabetes category.
Eli Lilly and Company has agreed to sell its dry nasal spray called Baqsimi to Amphastar Pharmaceuticals for $500m in cash. An additional payment of $125m will be made to Lilly one year after the deal is done. Amphastar will make up to $450m in milestone payments based on the sales of Baqsimi. The deal is expected to be completed in the second or third quarter of 2023. Baqsimi is a nasal glucagon medication that treats severe hypoglycaemia, or very low blood sugar, in diabetes patients. It is available in 27 countries and had global sales of $139.3m in 2022. Amphastar will invest in Baqsimi's commercialization to provide more people with a rescue treatment for severe hypoglycaemia. Lilly will continue to focus on developing new treatments for diabetes.
Eli Lilly and Sosei Group are working together to find and develop innovative medicines for diabetes and metabolic illnesses, which is a positive step for both businesses. An appealing target for drug discovery, GPCRs are a broad and diverse set of membrane proteins that are essential to numerous physiological functions.

BioIntel360 suggests that there are also ongoing developments and investments in diabetes technology, such as the launch of new insulin pumps and continuous glucose monitoring systems, as well as the development of artificial pancreas systems. Overall, the diabetes market continues to be a focus for financial deals and investments in the pharmaceutical and medical device industries.