Insulet (PODD) Morgan Stanley 22nd Annual Global Healthcare Conference summary

Executive insights and industry context

• Leadership transition viewed positively, with strong alignment on values and purpose after four months in role.

• Sustained 20%+ growth and margin expansion attributed to innovation pipeline and self-sustaining free cash flow.

• Ongoing innovation includes new sensor integrations (G7, G6 iOS, Libre 2 Plus) and international expansion of Omnipod 5.

• Early FDA label expansion for Type 2 diabetes driven by strong SECURE-T2D data.

• Company positioned as a leader in both Type 1 and Type 2 diabetes markets.

Type 2 diabetes market expansion

• First to receive FDA approval for automated insulin delivery in Type 2, expanding addressable market by 6 million.

• 25% of new Omnipod users are Type 2, with significant off-label use prior to approval.

• SECURE-T2D study showed 29% overall insulin reduction, 64% for highly insulin-resistant patients, and 2.1% A1C improvement for high baseline.

• Commercial strategy leverages existing sales force and direct-to-consumer marketing, with phased expansion and ongoing sales force growth.

• Guidance for 2025 will be refined as 2024 concludes and ramp data is analyzed.

Product and technology innovation

• Omnipod 5’s tubeless, discreet form factor and ease of use drive strong patient loyalty and broad prescriber adoption.

• Integration with leading sensors (G6, G7, Libre 2 Plus) expected to accelerate adoption and reduce friction for users.

• G7 pod launch managed via specialty pharmacy to ensure smooth transition and minimize inventory issues, with full retail rollout expected by October.

• Brand equity and consumer advocacy seen as significant barriers to entry for competitors.