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Latest News

D Medical shares soar as FDA clears insulin infusion device

* Says subsidiary gets FDA clearance to market device in US

* Shares up as much as 48 pct (Follows alerts)

May 2 (Reuters) - Shares of D Medical Industries Ltd rose as much as 48 percent on Monday, a day after it received clearance from U.S. health regulators to market its insulin delivery device.

The medical device maker said its subsidiary, Spring-Set Health Solutions Ltd, was granted 510(k) clearance by the U.S. Food and Drug Administration to market its Spring Universal infusion sets in the country.

An infusion set is used along with an insulin pump to induce insulin under the skin of diabetic patients.

The company said the infusion set is compatible with most insulin pumps currently available on the market.

Shares of the Tirat Carmel, Israel-based company were trading up 32 percent at $4.62 on Monday morning on Nasdaq. They touched a high of $5.17 earlier in the session. (Reporting by Kavyanjali Kaushik in Bangalore; Editing by Roshni Menon)


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