Earnest Pharmacy Claims healthcare data is tracking an acceleration in Omnipod 5 claims volume in March and April, followed by a slight dip in early 1Q2023. Last year, Insulet (PODD) launched Omnipod 5 (their newest insulin pump featuring an automated insulin delivery system) exclusively through the pharmacy channel, beginning with a limited launch in May 2022 and followed by a full-scale launch at the end of the summer.
Initial adoption exceeded management guidance and street expectations, though management noted that 4Q benefited from a timing dynamic: “Growth in the quarter included an estimated $15 million net volume benefit associated with the Omnipod 5 volume ramp… where we again benefited from some customers simultaneously getting both their starter kits and first order of refills.” In accordance with this commentary, Earnest data tracked a decel in total volume from late Dec 2022 to early Feb 2023.
Insulet seems to have cleared this temporary headwind, as the past several periods have exceeded previous peaks. Earnest data continued to track steady new patient acquisitions throughout early 2023, as measured by intro kit claims, and refill volume has accelerated as patients surpass the longer-than-typical supply they received with their first fill.
*Period of measurement is trailing 6-weeks
