According to a report out by PHARMA, Diabetes is the next big health challenge to confront the nation. [Diabetes Report] There are an estimated 17 million diabetics already, and 1 million new diagnosed each year. By 2050, the diabetes population will have grown 165%! Clearly, the challenge is huge, but so also is the opportunity to do something about it. Already, the spending on diabetes treatment has gone up from $1.3B in 1992 to 7.3 B in 2002. Companies such as Bristol-Myers Squibb, Glaxo Smith-Klien, Novo Nordisk and Lilly took up the challenge and profitted by developing newer therapies. However, the next wave of new technologies seem to be coming from Bio-tech. Companies such as Amylin, Genrex, Nobex, Nektar etc are developing new drugs which act in a variety of different vays to curb the same problem. The holy grail in this area of course is either inhaled or oral insulin. Pfizer and Aventis have placed a bet on technology from Inhaled Therapeutics and Aradigm Corp. (inhaler technology), which if it makes it to the market (the drug was first supposed to come to the market in early 2003 but has been delayed due to safety concerns - projection $1B peak sales), could revolutionize the way uncontrolled diabetes is treated.