Under the agreement, Ypsomed will distribute Insulet’s OmniPod insulin pump in a total of 22 countries including several additional countries in Europe, Middle East and Asia.

The period of the agreement has been extended by one year through June 2016.

Insulet said upon exceeding certain specified targets of 2013 and 2014 annual purchases by Ypsomed, the term will be automatically extended for up to two additional years, through June 2018.

Insulet president and chief executive officer Duane DeSisto said the company is pleased to expand partnership with Ypsomed, which has proven successful since launching the OmniPod insulin pump in Germany and the UK in 2010.

"We have recently sent Ypsomed their initial shipment of the next generation OmniPod for sale in Europe where it has CE Mark clearance," DeSisto added.