What's the vision that drives your team presently, now that embecta has become an independent company?
The vision driving our team is a life unlimited by diabetes, formulated as we prepared to become independent.
With over 500 million people currently living with diabetes and projections nearing 800 million in the next 25 years, the majority of this growth is expected in emerging markets.
Managing diabetes is complex, involving careful consideration of various lifestyle factors, including sleep, exercise, and diet, as well as the management of comorbidities. This understanding of the daily challenges faced by those with diabetes and their caregivers, along with the emotional and financial burdens placed on families, fuels our commitment to advancing therapies and solutions.
Our vision is rooted in both the aspirational goal of transforming lives and the practical realities of diabetes management. It's inspired by our employees, many of whom have a personal connection to diabetes, reflecting the deep commitment across our company to advance towards our vision. An employee who said her wish is for just one day without the burden of diabetes underscores the pervasive impact of the condition and encapsulates our drive to create a future where diabetes no longer limits lives.
Why is the prevalence of diabetes increasing, and how does this impact embecta's strategy?
The rise in diabetes, especially Type 2, is significant and expected to increase due to various factors, most notably in emerging markets. This includes higher base population rates, lifestyle changes associated with economic growth, and improved access to diagnosis and treatment. These dynamics underscore the need for our engagement in these regions, where we anticipate a significant role due to our extensive geographic reach and infrastructure. Approximately 50% of our revenue comes from the U.S., with the remaining from international markets.
Our strategy leverages our strong presence in emerging markets. With products available in 100 countries and used by around 30 million people, our efforts in these regions are crucial. We aim to utilize our commercial capabilities and patient education initiatives to address the unique needs of these markets, supported by our manufacturing infrastructure, including plants in the U.S., Ireland and China. This strategic orientation not only aligns with the global diabetes trend but also strengthens our commitment to making a meaningful difference in diabetes care worldwide.
Can you share details about embecta's latest innovation, the patch pump insulin delivery method?
Our development of a patch pump for insulin delivery represents a significant innovation. This device, designed to be worn on the arm, addresses the unmet needs of insulin-intensive users. Our focus is on creating a pump that is both practical for Type 2 diabetes management and distinct from other products designed primarily for Type 1 diabetes, ensuring it meets the specific requirements of this population.
The patch pump features a 300-unit reservoir to support three days of use, aligning with the needs of users requiring around 100 units of insulin daily. Its design emphasizes discretion and simplicity. This approach to innovation not only seeks to fill a significant gap in the market but also propels us towards our vision of a life unlimited by diabetes, leveraging our global infrastructure to bring this and future innovations to patients worldwide.
What is your perspective on the regulatory timeline for the patch pump, and how does this align with embecta's broader innovation strategy?
Predicting regulatory approvals is challenging, and we prioritize getting the patch pump right over rushing its release. Our approach is collaborative and responsive, ensuring that when the product is introduced, it meets the highest standards. While we're in the early stages of FDA review, our strategy encompasses a careful balance between innovation, maintaining our core injection product leadership, and ensuring supply stability. Our history of pioneering in insulin injection devices informs our continuous innovation, with the patch pump expected to pave the way for a broader platform of products.
Our innovation pipeline remains robust, with ongoing enhancements to our core injection portfolio and explorations of new product platforms. As we finalize our transition to an independent company, we're also leveraging partnerships to introduce innovative products in different markets, exemplified by recent collaborations in France and the UK, among other regions. These initiatives reflect our commitment to addressing the diverse needs of patients worldwide, guided by our strategic priorities and the transformative potential of our innovations in diabetes care.
