MiniMed Sells New Model of Infusion Pump

MiniMed Inc. of Sylmar, which specializes in diabetes control, began selling a model of its infusion pump that can be used to treat several conditions, including high blood pressure. MiniMed shares rose $2.38 to close at $71.63 in Nasdaq trading. The company said the pump is designed to deliver medications subcutaneously and is similar to its insulin infusion pumps for treating diabetes. The pump, which got Food and Drug Administration clearance in June, will be marketed throughout the United States and European Union, MiniMed said. Also in June, the company received approval from the FDA to market its continuous glucose monitoring system, which consists of a sensor inserted just under the skin in the abdomen and that is connected by a wire to a monitor worn externally. The monitor is intended to complement and eventually replace the “finger-prick” tests diabetics use to monitor their blood throughout the day. MiniMed also has exclusive marketing rights to an implantable insulin pump, which is currently approved for distribution in Europe but not yet in the U.S.