Medtronic Sued Over Deal for Reusable Insulin Pen Maker (1)

A Medtronic Plc unit is facing post-deal litigation by former investors in Companion Medical Inc., an acquisition that developed reusable insulin pens and a companion mobile app.

The lawsuit made public Monday says the medical device giant is deliberately driving down sales of two related diabetes treatments, the InPen and the InCap, in a scheme to miss revenue milestones that would have triggered post-merger payments. The sales targets aren’t specified in public filings, but the suit says the potential market for the two devices was estimated to be more than $2.2 billion around the time of the transaction.

Medtronic said ...