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[IP] MiniMed shares rise after strong earnings report: The company said it expects to file for regulatory approval in August of a patient version of its continuous insulin monitoring system



http://famulus.msnbc.com/famuluscom/reuters07-20-111146.asp?sym=MNMD

[Read the last two paragraphs for the really important interesting stuff.  Not
to mention the fact that 'external insulin pump market is hitting its stride
with little significant slowdown likely' and 'Faulkner said the pipeline of
new patients for MiniMed pumps is full, with patients waiting longer to be
trained on their pumps. The company has a priority on hiring trainers, he
said.']


MiniMed shares rise after strong earnings report

REUTERS

LOS ANGELES, July 20  Shares of MiniMed Inc. (NASDAQ:MNMD), which makes
external insulin pumps for the treatment of diabetes, were up 7.5 percent on
Thursday after the company reported higher second-quarter earnings.

      The Sylmar, Calif.-based company's stock was up 8-1/2 at 121-1/2 in
afternoon trade on the Nasdaq stock market. The shares have a 52-week range of
50-1/8 to 144-1/8.
       "It is our observation that the external insulin pump market is hitting
its stride with little significant slowdown likely," Chase H&Q analyst Robert
Faulkner said in a research note.
       The external insulin pump attaches to the abdomen and allows diabetes
patients infuse insulin into their bloodstreams, replacing the traditional
injection method.
       Faulkner said the pipeline of new patients for MiniMed pumps is full,
with patients waiting longer to be trained on their pumps. The company has a
priority on hiring trainers, he said.
       Faulkner said he was raising his estimates for MiniMed's earnings to
$1.14 per share from $1.10 for 2000, and to $1.65 from $1.50 for 2001, due to
lower-than-expected tax rates and expense leveraging.
       On Wednesday MiniMed reported a 77 percent rise in second-quarter
profits, fuelled by a 42 percent increase in demand for insulin pumps. The
company also announced a two-for-one stock split.
       Faulkner said MiniMed's new-product pipeline is progressing well and is
key to driving future earnings growth. New products are on track to come to
fruition in 2001 and 2002, he said.
       The company said it expects to file for regulatory approval in August
of a patient version of its continuous insulin monitoring system.
       MiniMed also said clinical trials for its pre-filled insulin cartridges
and disposable infusion system for Type 2 diabetes will begin later this year.

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