Continued Domestic Demand and International Launch of the t:slim X2
Insulin Pump Drive Growth
SAN DIEGO--(BUSINESS WIRE)--Sep. 25, 2018--
Tandem Diabetes Care®, Inc. (NASDAQ: TNDM), a medical device company and
manufacturer of the only touchscreen insulin pumps with continuous
glucose monitoring integration, today announced that it has increased
its 2018 sales guidance to $150 million to $158 million, from $140
million to $148 million, following continued strong domestic sales in
the third quarter and the recent launch of the t:slim X2™ Insulin Pump
in select international markets. Compared to 2017 sales of approximately
$108 million, the revised guidance range represents annual sales growth
of 39 percent to 47 percent.
The revised sales guidance includes a projected $7 million to $8 million
of sales in select geographies outside of the United States, which
commenced in August 2018. Sales, training and customer service outside
of the United States are being provided by regional distribution
partners, except in Canada. The t:slim X2 Insulin Pump is currently
under review by Health Canada. The Company is planning to launch in
Canada in the fourth quarter, subject to obtaining regulatory approval.
Sales for the third quarter of 2018 are estimated to be in the range of
$42 million to $44 million, which represents quarterly sales growth of
56 percent to 63 percent compared to approximately $27 million in the
third quarter of 2017. Sales estimates for the third quarter of 2018
include approximately $2 million of projected sales in select
geographies outside the United States.
“The sales momentum we are experiencing both domestically and
internationally reinforces that we are successfully addressing the needs
of people with diabetes worldwide,” said Kim Blickenstaff, President and
Chief Executive Officer. “We are increasing our sales guidance as a
reflection of this and the tremendous feedback we’ve been receiving on
the t:slim X2 Insulin Pump.”
About Tandem Diabetes Care, Inc.
Tandem Diabetes Care, Inc. (www.tandemdiabetes.com)
is a medical device company dedicated to improving the lives of people
with diabetes through relentless innovation and revolutionary customer
experience. Tandem takes an innovative, user-centric approach to the
design, development and commercialization of products for people with
diabetes who use insulin. Tandem manufactures and sells the t:slim X2™
Insulin Pump, which features integrated continuous glucose monitoring.
Tandem is based in San Diego, California.
Follow Tandem Diabetes Care on Twitter @tandemdiabetes; use #tslimX2 and
Follow Tandem Diabetes Care on Facebook at www.facebook.com/TandemDiabetes.
Tandem Diabetes Care on LinkedIn at https://www.linkedin.com/company/tandemdiabetes.
Tandem Diabetes Care is a registered trademark and t:slim X2 is a
trademark of Tandem Diabetes Care, Inc.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, that
concern matters that involve risks and uncertainties that could cause
actual results to differ materially from those anticipated or projected
in the forward-looking statements. These forward-looking statements
relate to, among other things, the Company’s estimated sales for the
quarter ended September 30, 2018, the Company’s projected sales for
2018, the timing of review of its Canadian health care medical device
license application, and the anticipated commercial launch of a Tandem
product in Canada in the fourth quarter of 2018 . The forward-looking
statements made in this press release are subject to numerous risks and
uncertainties and actual results could be materially different from the
results projected or implied by these statements. For example, the
Company’s actual estimated sales for the quarter ended September 30,
2018 have been projected based on information available to management
prior to the end of the reporting period and have not been subject to
any review procedures by our independent registered public accounting
firm. In addition, the Company’s ability to achieve its projected sales
results for 2018 will be impacted by the continued market acceptance of
the Company’s new products by healthcare providers, third-party payors
and people with diabetes; the timing and pattern of future orders from
the Company’s independent distributors; uncertainty associated with the
timing and outcome of Health Canada’s review of the t:slim X2 Insulin
Pump currently pending regulatory approval; the Company’s ability to
manufacture products in commercial quantities at an acceptable cost and
in accordance with quality requirements; and the potential that newer
products that compete with the Company’s products, or other
technological breakthroughs for the monitoring, treatment or prevention
of diabetes, may render our products obsolete or less desirable. Other
risks and uncertainties are identified in our most recent Annual Report
on Form 10-K and Quarterly Reports on Form 10-Q, and other documents
that we file with the Securities and Exchange Commission. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this release. Tandem
undertakes no obligation to update or review any forward-looking
statement in this press release because of new information, future
events or other factors.
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Source: Tandem Diabetes Care, Inc.
Tandem Diabetes Care, Inc.
Morrison, 858-366-6900 x7005