Modular Medical Announces Contract with National U.S. Pharmacy Benefit Manager, Expanding Access to Pivot Tubeless Patch Pump
Modular Medical (MODD) announced a contract with a national U.S. pharmacy benefit manager (PBM), making its Pivot™ tubeless patch pump insulin delivery system available through that PBM.
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Rhea-AI Summary
Modular Medical (MODD) announced a contract with a national U.S. pharmacy benefit manager (PBM), making its Pivot™ tubeless patch pump insulin delivery system available through that PBM.
The company views this agreement, which it says is with one of the largest PBMs in the country, as a key commercialization milestone that can broaden patient access and support validation of Pivot as an accessible diabetes therapy option. PBMs manage prescription drug benefits and formulary placement for health plans and employers, helping reduce barriers to access and streamline reimbursement. Pivot is a wearable, three-day tubeless patch pump designed to transition patients from multiple daily injections to continuous insulin infusion.
Positive
- Contract with national U.S. PBM makes Pivot insulin delivery system available through that pharmacy benefit manager
- Commercialization milestone expected by the company to broaden patient access and support adoption of the Pivot tubeless patch pump
Negative
- None.
Details
Market move: MODD +7.60% in the Sep 4 session. national PBM partnership
On Sep 4, the day this news came out, MODD closed 7.60% above the previous close. Argus tracked a peak move of +8.0% during that session. Argus tracked a trough of -3.9% from its starting point during tracking. Our momentum scanner recorded 16 alerts for this stock that day. Relative volume reached 82.1x the daily average during tracking.
Data tracked by StockTitan Argus for the Sep 4 session.
Key Figures
- Wear Period
- three days
- Pivot tubeless patch pump
Historical Context
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FDA cleared software enhancements for the Pivot insulin patch pump system.
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CEO presentation and Q&A webinar registration opened ahead of the launch.
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Management planned Pivot demonstrations at the diabetes care conference.
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The company announced an October launch across five U.S. markets.
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Modular Medical formed the Pivot Innovation Council and appointed its chairman.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
pharmacy benefit manager regulatory
continuous subcutaneous insulin infusion medical
formulary placement regulatory
basal and bolus insulin delivery medical
AI-generated analysis. How Rhea-AI works. Not financial advice.
SAN DIEGO, CA / ACCESS Newswire / September 4, 2026 / Modular Medical, Inc. ("Modular Medical" or "the Company") (NASDAQ:MODD), a commercial-stage medical device company preparing for the commercial launch of its next-generation Pivot™ tubeless patch pump, today announced that it has secured a contract with a national U.S. pharmacy benefit manager (PBM) in the United States. Pursuant to the contract, the Company's Pivot insulin delivery system is now available through the national PBM. The Company believes the engagement with this national PBM represents a significant step forward in broadening patient access to the Company's Pivot tubeless patch pump and will further validate the Pivot pump as an accessible therapeutic option for people living with diabetes.
"We believe this agreement with a national PBM, one of the largest in the country, represents an important commercialization milestone for our Pivot patch pump," said Jeb Besser, Chief Executive Officer of Modular Medical. "PBMs play a critical role in enabling patient access to therapies and medical technologies. We believe this relationship positions us to reach more patients who could benefit from a simpler, more approachable insulin-delivery solution."
Expanding Patient Access Through PBM Partnerships
Pharmacy benefit managers serve a central role in the U.S. healthcare ecosystem by working with health plans, employers, pharmacies, and manufacturers to manage prescription drug benefits and improve access to care. PBMs help evaluate clinical value, negotiate reimbursement arrangements, and facilitate formulary placement, enabling patients to access therapies through their existing healthcare benefits.
For innovative diabetes technologies, PBM partnerships can be an important driver of adoption by helping reduce barriers to access, increasing provider awareness, and streamlining reimbursement pathways. As healthcare stakeholders continue to focus on improving outcomes while managing costs, solutions that offer ease of use, patient satisfaction, and effective diabetes management are increasingly attracting attention.
About the Pivot Tubeless Patch Pump
The Pivot™ tubeless patch pump is a simple, wearable insulin delivery platform designed to provide continuous subcutaneous insulin infusion with both basal and bolus insulin delivery over a three-day wear period. The system is intended to offer a practical and accessible pathway from multiple daily injections to insulin pump therapy for a broader population of people living with diabetes. For more information, visit www.pivotpump.com.
About Modular Medical
Modular Medical, Inc. (NASDAQ:MODD) is a commercial-stage medical device company focused on the development of innovative insulin delivery technologies designed to simplify diabetes management and increase access to insulin pump therapy. The Company's Pivot™ tubeless patch pump has been developed to provide a user-friendly, flexible, and accessible approach to insulin delivery for people requiring intensive insulin therapy.
Forward-Looking Statements
This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statements contained in this press release, including but not limited to, the anticipated benefits of the contract with the national PBM, including providing broader access to the Company's Pivot pump product to individuals with diabetes, the successful development of Modular Medical's proprietary technologies, whether the market will accept Modular Medical's products and services, anticipated consumer demand for the Company's products, whether Modular Medical can successfully manufacture its products at high volumes, and general economic, and industry or political conditions in the United States or internationally, as well as other risk factors and business considerations described in Modular Medical's SEC filings, including its annual report on Form 10-K. Any forward-looking statements in this press release should be evaluated in light of these important risk factors. In addition, any forward-looking statements included in this press release represent Modular Medical's views only as of the date of its publication and should not be relied upon as representing its views as of any subsequent date. Modular Medical assumes no obligation to update these forward-looking statements, except as required by law.
Pivot is a trademark of Modular Medical. All other trademarks mentioned herein are the property of their respective owners.
Company Contact:
Jeb Besser
Chief Executive Officer
Modular Medical, Inc.
IR@modular-medical.com
Investor Relations Contact:
Valter Pinto, Managing Director
KCSA Strategic Communications
ModularMedical@KCSA.com
SOURCE: Modular Medical, Inc.
View the original press release on ACCESS Newswire
FAQ
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What PBM agreement did Modular Medical (MODD) announce for the Pivot tubeless patch pump?
Modular Medical announced it has secured a contract with a national U.S. pharmacy benefit manager, which makes its Pivot™ tubeless patch pump insulin delivery system available through that PBM. The company describes the PBM as one of the largest in the country.
How does the new PBM contract affect access to Modular Medical's Pivot pump (MODD)?
The contract allows the Pivot™ insulin delivery system to be accessed through a national PBM’s network. The company believes this will broaden patient access, reduce barriers related to reimbursement, and help position Pivot as an accessible therapeutic option for people with diabetes.
Why does Modular Medical consider the PBM agreement important for Pivot (MODD)?
The company describes the contract as an important commercialization milestone. PBMs influence formulary placement and reimbursement, so this relationship is expected by the company to help reach more patients and support adoption of its simpler, wearable insulin-delivery solution.
What is the Pivot tubeless patch pump offered by Modular Medical (MODD)?
The Pivot™ tubeless patch pump is a simple, wearable insulin delivery platform that provides continuous subcutaneous insulin infusion with basal and bolus delivery over a three-day wear period. It is intended to offer a practical pathway from multiple daily injections to insulin pump therapy.
What role do PBMs play in the rollout of Modular Medical’s diabetes technology (MODD)?
PBMs work with health plans, employers, pharmacies, and manufacturers to manage prescription drug benefits. They evaluate clinical value, negotiate reimbursement, and influence formulary placement, which can reduce access barriers, increase provider awareness, and streamline reimbursement for technologies like the Pivot patch pump.