NuGen Medical Devices (TSXV: NGMD) (“NuGen M.D.” or the “Company”), a leader in needle-free drug delivery, applauds President Biden’s remarks in his first ever State of the Union Address on the diabetes pandemic and the financial strain it puts on the healthcare system and families living with diabetes.
President Biden used insulin as an example of how he plans to cut the cost of prescription drugs. He talked about 13-year-old Joshua Davis, a prescription drug cost advocate living with Type 1 diabetes, who was a special guest of First Lady Jill Biden at the State of the Union Address. Joshua’s family, like many others across the country, is struggling to pay for insulin that costs up to 30 times more than what it costs to make.
“For Joshua, and for the 200,000 other young people with Type 1 diabetes, let’s cap the cost of insulin at $35 a month so everyone can afford it,” said President Biden in his address.
With its revolutionary needle-free drug delivery device, NuGen M.D. is one company already making a difference for diabetes patients around the globe. There are over 34 million individuals diagnosed with diabetes each year in the United States, more than double the annual number diagnosed with cancer, making addressing the diabetes “pandemic” more important than ever before.
NuGen M.D.’s needle-free injection system is the first ever self-administered needle-free injection system approved by Health Canada and 40 other countries across the globe and gives access to safe, cost-effective drug delivery for the millions of patients who suffer from diabetes or other chronic illnesses.
The device reduces fear around needle injections, eliminates the risk of needle-stick injuries, cross contamination, and infection, and reduces costs for both patients and the healthcare system – because it is reusable, the InsuJetTM significantly reduces costs associated with single-use hypodermic needles.
“Look,” said President Biden, “the American Rescue Plan is helping millions of families on Affordable Care Act plans save $2,400 a year on their health care premiums. Let’s close the coverage gap and make those savings permanent.
NuGen M.D. is excited to be a key player in helping to reduce costs, fear, and anxiety for those struggling with chronic illness around the world.
NuGen Medical Devices is an emerging specialty medical device company focused on developing and commercializing novel drug delivery technologies. NuGen Medical Devices’ principal business is the development and commercialization of innovative needle-free injection devices and systems for the administration of subcutaneous medication. It is developing products using needle-free drug delivery technology in several important fields including, but not limited to, anaphylaxis, diabetes, severe migraine, erectile dysfunction, chronic anemia, neutropenia, autoimmune rheumatoid arthritis, growth and fertility hormone, psoriasis as well as DNA and conventional/pediatric vaccines.
President and CEO
NuGen Medical Devices Inc.
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