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    Home > Medical News > Medical World News > Valeritas, the manufacturer of insulin pumps, filed for bankruptcy!

    Valeritas, the manufacturer of insulin pumps, filed for bankruptcy!

    • Last Update: 2020-02-11
    • Source: Internet
    • Author: User
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    Fan Dongdong Valeritas, the wearable disposable insulin pump manufacturer, has been facing many difficulties in its development Recently, valeritas has formally applied for bankruptcy protection (Chapter 11 of the federal bankruptcy law of the United States) Its bankruptcy plan is to sell and transfer the business sales to the special drug manufacturer Zeland Pharma under the supervision of the court In late December, valeritas disclosed a supply chain disruption that resulted in a one-off scrap of up to $8 million of inventory to ensure that there was enough cash on hand to support the month's operations The company's product v-go, a small, disposable insulin injection device, has achieved great success internationally Due to price pressure and market competition, distribution agreements in many countries have been terminated ahead of schedule: including agreements with medtrust in Europe, and agreements with eastern China pharmaceutical manufacturer Julphar At that time, valeritas invited Lincoln international to look for possible solutions, including the sale of the company through the process of Chapter 11 of the U.S federal bankruptcy law Recently, we finally found a buyer for a Danish biotechnology company, Zeland pharma If the deal is completed, it will buy all of valerita's assets in cash for a total of $23 million, said Zealand After the acquisition, Zealand plans to merge valerita's infrastructure business in the United States to provide a foothold for the future launch of hypoglycemia ready to use hypopal emergency pens Dasilucagon is a global first glucagon stable analogue developed by zelaland, which has unique stability in liquid preparations and is suitable for ready to use therapeutic pens Previously, the company's goal was to go public by 2021.
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