** Shares of Embecta rise 1.6% to $16.60
** Medical device maker says the U.S. FDA has cleared its disposable insulin patch pump for use in adults who have type 1 or type 2 diabetes
** EMBC also plans to submit an application to the FDA for potential approval of a closed-loop version of its pump with an insulin-dosing algorithm
** YTD, stock up 12.3%
(Reporting by Puyaan Singh)
((Puyaan.Singh@thomsonreuters.com;))
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