Insulet Corp. (PODD: Quote) announced the expansion and extension of its distribution partnership with Ypsomed AG.
Under the terms of the amendment, Ypsomed will become the exclusive distributor of the OmniPod insulin pump in a total of 22 countries, including several additional countries in Europe, the Middle East, and Asia.
The company added that the term of the agreement has been extended by one year through June 2016, which term will be automatically extended for up to two additional years, through June 2018, provided that Ypsomed's annual purchases in 2013 and 2014 exceed certain specified targets.
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by RTT Staff Writer
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