Insulin pump maker Insulet won $452 million in its trade secret case against Korean rival EOFlow, the company announced on Wednesday.
The company filed a lawsuit against EOFlow in August 2023, claiming that EOFlow copied the design for its insulin patch pump that delivers the therapy to people with diabetes. EOFlow hired several of Insulet’s former senior executives in 2016 and that, Insulet alleged, is when the company started using Insulet’s design.
Insulet claimed it only learned of the theft in 2023 after reviewing EOFlow’s device in person. But it’s likely that Insulet decided to sue only after EOFlow became a credible competitive threat — in May of 2023, Medtronic announced plans to buy EOFlow for $738 million. Medtronic then walked away from the acquisition in December, after Insulet’s legal challenge.
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