will someone please take out the 3.2c, page-3

Medingo’s insulin patch approved; shares rocket
By Nick Taylor, 30-Jul-2009
Related topics: Lifecycle management, Materials & Formulation, Drug delivery systems

Medingo’s insulin dispensing patch has been approved by the US Food and Drug Administration (FDA), sending shares in its parent company soaring to a 12 month high.

The company claims the patch, called Solo, is the smallest, thinnest, lightest and most discrete insulin pump without cumbersome tubing. Solo consists of two components: an insulin dispensing patch and a remote control.

Using the remote patients can customise the patch’s output to match their insulin needs. Gaining approval for the patch is regarded as a major milestone by Arie Mientkavich, chairman of Medingo.

Solo is set to be showcased at the American Association of Diabetes Educators Meeting, which takes place in Atlanta, US in August 2009. Mientkavich said the Medingo is “currently considering alternatives for its go-to-market strategy and the timing of the product launch”.

Release of the news sent the share price of Medingo’s parent company, Elron Electronics Industries, up by 56.4 per cent. The rise demonstrates investors’ belief in the opportunities that exist for products that deliver insulin in a more convenient way.