Insulet Corporation · NASDAQ:PODD
Insulet — Investor Presentation (June 2024)
28 slides from Insulet's investor presentation, Jun 21, 2024
Slide 1: Market Opportunity & Impact of GLP-1s
Insulet Corporation Market Opportunity & Impact of GLP-1s Updated June 2024 Christian D Podder since 2020
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation may contain forward-looking statements concerning Insulet's expectations, anticipations, intentions, beliefs or strategies regarding the future. These forward-looking statements are based on current expectations and beliefs concerning future developments a
Slide 3: Introduction
Introduction • Ongoing adoption of the GLP-1 class of drugs in diabetes and recent news surrounding the expansion of use of GLP-1 in obesity have led to several questions regarding the impact on the insulin therapy market • This report is intended to provide investors and other interested parties wi
Slide 4: Overview
Updated Overview • There are two distinct types of diabetes, type 1 and type 2. Both are comprised of large patient populations and represent significantly underpenetrated markets for insulin pump therapy (p. 5). • Type 2 diabetes is a progressive disease that presents gradually, but leads inevitabl
Slide 5: Well Positioned for the Massive Market Opportunity
Well Positioned for the Massive Market Opportunity ~64M ~11M +3M Requiring Insulin Total Addressable U.S. Basal Opportunity Worldwide1 Market2 (Future TAM opportunity) In the markets we serve, 5M Type 1 and 6M Type 2 patients require basal bolus therapy 1. Source: IDF Atlas 10th Edition. 5 2. Compri
Slide 6: GLP-1 Analysis Update
GLP-1 Analysis Update June 21, 2024
Slide 7: GLP-1 and Insulin Use in Type 2 Diabetes
Updated GLP-1 and Insulin Use in Type 2 Diabetes OPTUM CLAIMS ANALYSIS AND KEY INSIGHTS FROM SECURE-T2D (JUNE 2024) Insulet partnered with Optum® Health Economics and Outcomes Research to conduct real-world analysis using a broad and representative U.S. claims dataset. To equate GLP-1 and non-GLP-1
Slide 8: GLP-1 users are 2x more likely to initiate insulin
Updated Insulin initiation by GLP-1 use Insulin initiation among insulin-naïve type 2 diabetes patients in the 12 months GLP-1 users following GLP-1 introduction 1 are 2x more 9.1% likely to initiate insulin 4.4% within the first 12 months of n=46,829 n=46,829 therapy Non-GLP-1 GLP-1 Users Users 1.
Slide 9: GLP-1 use is associated with higher insulin initiation across HbA1c categories
Updated GLP-1 use is associated with higher insulin initiation across a broad range of HbA1c categories Insulin initiation across HbA1c categories Insulin initiation within 12 months among GLP-1 users and non-GLP-1 users by baseline HbA1c1, n=42,439 HbA1c < 7% HbA1c 7 to 9% HbA1c 9%+ 19.5%* 14.0% 9.
Slide 10: Patients who stop GLP-1 use within first 3 months more likely to initiate insulin
Updated Patients who stop GLP-1 use within the first 3 months are more likely to initiate insulin within 12 months Stopping GLP-1 is associated with higher rates of insulin initiation Insulin initiation from 4 to 12 months after GLP-1 introduction, stratified by GLP-1 exposure1, n=52,049 6.5%* 3.9%*
Slide 11: Majority of people who adopt GLP-1s do not stay on therapy for 12 months
Updated Majority of people who adopt GLP-1s do not stay on therapy for 12 months 55% of patients discontinue GLP-1 use within 12 months of initiation; 28% within 90 days Proportion of new GLP-1 patients remaining on therapy1, n=54,379 100% 90% Percentage of Patients 80% on a GLP-1 70% 60% 50% 40% 30
Slide 12: GLP-1 users are equally as likely to remain on insulin
Updated GLP-1 users are equally as likely to remain on insulin as non-GLP-1 users For patients already on insulin, percent of population continuing on insulin in the 12 months after index date1 GLP-1s do not 93.3% 93.2% impact continued use of insulin among current insulin users Non-GLP-1 GLP-1 User
Slide 13: Omnipod 5 reduces HbA1c in type 2 diabetes regardless of GLP-1 use
Updated Omnipod 5 reduces HbA1c in type 2 diabetes regardless of GLP-1 use HbA1c reduction in the SECURE-T2D pivotal trial Change in HbA1c stratified by baseline HbA1c and GLP-1 use1, n=296 ≤6.9% 7.0-7.9% 8.0-8.9% ≥9% 0.0% -0.1% -0.3% -0.4% -0.8% 2% Reduction -0.9% for GLP-1 users No GLP-1 with HbA1
Slide 14: Type 2 Diabetes
Type 2 Diabetes Insulet
Slide 15: Type 2 diabetes is a progressive disease driven by stress on the endocrine system
Type 2 diabetes is a progressive disease driven by stress on the endocrine system and irreversible beta cell decline Over time the body produces less insulin while What causes type 2 diabetes? requiring more1 • Type 2 diabetes is a progressive disease that is diagnosed when Type 2 Pathophysiology in
Slide 16: GLP-1s are one component of the treatment pathway for type 2 diabetes
GLP-1s are one component of the treatment pathway for type 2 diabetes Mechanism of Action of What are the benefits of GLP-1s? GLP-1 Receptor Agonists1 • Improves glucose control and promotes weight loss2 • Reduces the risk of cardiovascular events2 GLP-1 is a hormone that is • Can be used in combina
Slide 17: Available therapies do not stop the underlying progression of type 2 diabetes
Available therapies do not stop the underlying progression of type 2 diabetes Therapies drive initial benefit, Most patients with type 2 diabetes will require however progression persists insulin therapy as disease advances A1C (marker of average blood glucose) progression after second agent introdu
Slide 18: Type 2 diabetes progresses with semaglutide therapy independent of weight loss
Type 2 diabetes progresses with semaglutide therapy independent of weight loss In a real-world analysis of >23,000 semaglutide users: The A1C increase is similar to that Weight loss benefits were maintained Glycemic benefits were dependent on seen with older GLP-1, liraglutide, in a for 3 years rega
Slide 19: Omnipod is proven and effective in type 2 diabetes
Omnipod is proven and effective in type 2 diabetes Omnipod Classic and DASH improve glycemic control in type 2 diabetes with 32% less insulin usage Reduction in Total Omnipod Classic and Omnipod DASH Reduction in A1C Daily Dose Insulin N=3,592 N=3,053 have been used to treat type 2 -1.3 -33 diabetes
Slide 20: Insulin and GLP-1s are often used in combination
Insulin and GLP-1s are often used in combination, producing better results than either therapy alone Results highlight insulin delivery through Omnipod 51,2 Newer diabetes agents work effectively in is complementary to existing GLP-1 therapy combination with insulin Reduction in A1C with Omnipod 5 n
Slide 21: Large populations progress to insulin therapy, remain under-penetrated by pumps
Large populations progress to insulin therapy, which remain significantly under-penetrated by pumps Basal Only Basal/Bolus Population Population 2022 2022 ~3M+ 1 ~20 Years of inexorable ~2.5M 193 progression to advanced disease and insulin therapy >99% ~95% 2023 US Adult <1% ~5% Population (M) Insul
Slide 22: Type 2 Diabetes and GLP-1s FAQs
Type 2 Diabetes and GLP-1s FAQS (PART 1 OF 3) How does type 2 diabetes contribute to Insulet’s growth? • The percentage of U.S. new type 2 diabetes customers has ranged from approximately 15% to 40% each quarter since 2019. We also recently disclosed that in Q2 2023, we had a record number of new cu
Slide 23: Type 2 Diabetes and GLP-1s FAQs
Updated Type 2 Diabetes and GLP-1s FAQS (PART 2 OF 3) Do GLP-1s eliminate the need for insulin in type 2 diabetes? Do they drive remission? • GLP-1s do not eliminate the need for insulin in type 2 diabetes. Insulin is recommended in patients whose A1C remains uncontrolled after >3 months of combinat
Slide 24: Type 2 Diabetes and GLP-1s FAQs
Type 2 Diabetes and GLP-1s FAQS (PART 3 OF 3) Are GLP-1s ever used with insulin? • Yes. Because type 2 diabetes is a progressive disease, maintenance of glycemic targets often requires combination therapy1. There are coformulations available that deliver both GLP-1 and long-acting insulin such as Xu
Slide 25: Type 1 Diabetes
Type 1 Diabetes Insulet
Slide 26: Type 1 diabetes is an autoimmune condition with rapid onset and no cure
Type 1 diabetes is an autoimmune condition with rapid onset, permanent loss of beta cells, and no cure The body attacks beta cells resulting in cell What causes type 1 diabetes? death and the need for exogenous insulin • Type 1 diabetes is an immune-mediated disease associated with destruction of th
Slide 27: Underpenetrated Type 1 Diabetes Market
Underpenetrated Type 1 Diabetes Market U.S. Type 1 Diabetes International Type 1 Diabetes Population Population1 2022 2022 ~1.5M ~3.5M ~60% ~80% ~40% ~20% T1 US T1 US Insulin Pumps Insulin Pumps Multiple Daily Injections Multiple Daily Injections Note: Insulet internal estimates. 27 1. In the market
Slide 28: Type 1 Diabetes and GLP-1s Summary
Type 1 Diabetes and GLP-1s SUMMARY There is no known cure for type 1 diabetes GLP-1s do not eliminate the need for insulin and insulin delivery technology in type 1 diabetes • GLP-1s do not eliminate the need for insulin treatment. GLP-1s have not been shown to change the natural course of beta cell