Valeritas Announces Release of V-Go Product in Australia and NZ

Medical technology company Valeritas (NASDAQ:VLRX) has today announced that it is to release its V-Go wearable insulin delivery device in Australia and New Zealand. Stocks in the firm have skyrocketed 96.3% on the news, making it the highest gaining U.S. stock by percentage today, according to Yahoo Finance. 

The V-Go device is Valertias’ flagship technology for patients with type-2 diabetes. Designed as a wearable and discrete patch that is applied to the skin, the V-Go can be filled in the morning with a dose of insulin and then placed somewhere on the skin such as the back of the arms or on the stomach. Once there, it can deliver a steady stream of insulin throughout the day, as well as on-demand dosing at the click of a button, such as at mealtimes. This is useful for people who live with type-2 diabetes, who often will have to inject themselves with insulin multiple times per day. In addition, carrying around an insulin pump or multiple syringes can prove awkward.

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With the approval of V-Go in Australia and New Zealand, a large market has opened up to Valeritas. According to Roy Morgan 2015 statistics, about 90% of the 1.1 million diabetes sufferers in Australia have type-2 diabetes. Meanwhile, around 250,000 New Zealanders suffered from the disease as of 2015; a number which more than doubled from ten years prior. Again, type-2 diabetes accounted for the majority of this. In simple terms, there are a lot of patients who might be interested in the ease-of-use that the V-Go product affords. 

Richard Plowright, Managing Director of AMSL and NZMS said: “Adding V-Go to our portfolio is a significant step towards addressing the needs of Australian and New Zealand patients with type 2 diabetes who want simple and effective insulin management that doesn’t interfere with their way of life.” 

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Stocks in Valeritas are currently valued at $2.43 USD, bringing the firm’s market cap to $18.8 million. Today’s boost has reversed the firm’s stock price out of a six-month low.

Valeritas is a commercial-stage medical technology firm focused on the development of diabetes medication. The V-Go is the company’s first commercialized product. In addition, Valeritas intends to release two additional products to its V-Go range; the V-Go SIM and the V-Go PreFill. The V-Go SIM will allow patients to monitor dosing via links between the V-Go and a mobile device, while the V-Go PreFill will come with a pre-filled insulin cartridge, eliminating the filling process. 

Featured image: Valeritas

About the author: Ed Browne is a content writer currently living in Vancouver, Canada. He currently writes on the subject of business and finance but has previous experience in human interest articles as well as music reporting. Ed is originally from the UK and spent most of his time working in pubs and bars before graduating and entering a journalistic field.