|SAN DIEGO--(BUSINESS WIRE)--|
Continued Domestic Demand and International Launch of the t:slim X2 Insulin Pump Drive Growth
Tandem Diabetes Care®, Inc. ( 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.
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Tandem Diabetes Care is a registered trademark and t:slim X2 is a trademark of Tandem Diabetes Care, Inc.