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First, let me welcome everyone to this message board!

The diabetes "industry" (or as Diabetic Investor David Kliff once referred to it as "The Diabetes-Industrial Complex") is a multi-billion industry that is worldwide.  According to some estimates, in 2009, the diabetes treatment market generated worldwide sales of over $25 billion, while U.S. medical costs for treating diabetes were estimated to be $116 billion (that includes costs such as lab work and doctor's visits in addition to drug and medical device sales).  At present, the U.S. accounts for about half of the worldwide totals, although developing markets such as China and India are growing very rapidly and will likely overtake the U.S. in the not-too-distant future.

With that much money being spent, all kinds of businesses are eager to get a piece of the action, ranging from supermarket chains to biotechnology firms.

One might presume that a market this big would bring lots of innovation, yet the data suggest otherwise.  For example, most new drugs fall within the same drug class/category and are "me-too" products.  If you don't like Humalog insulin, you can choose Novolog/ Novorapid, Apidra, or in the future, products such as Biodel, Inc's Linjeta which is currently pending FDA approval.  We could also see products from Halozyme Therapeutics, Generex Biotechnology Corp., Thermalin, MannKind and even some well-known names such as Merck, which acquired a startup named SmartCells, Inc. (in addition to already being the world's largest contract-manufacturer of insulin via it's Organon N.V. business unit).  There's more of the same in other therapeutic classes, such as drugs to treat type 2 diabetes.

So I'd LOVE to hear your thoughts, ideas, perspectives and concerns on the business of diabetes and what that could mean for people living with these diseases.

Regards,
Scott Strumello, Moderator

Publisher of "Scott's Web Log" or on Twitter @sstrumello