Stalking the Wild Glucose Level; Minimed Chief Aims to Bring Big Changes to Diabetes Therapy
Alfred E Mann's main company, Minimed Inc, is scheduled to go before Food and Drug Administration advisory panel later this month to seek approval to sell world's first sensor that provides continuous measurements of glucose in the blood; Minimed says its system will be less painful for diabetics than current testing and will provide more detailed information, allowing diabetics to better control their condition and improve their health; some analysts and physicians say such promises are exaggerated, arguing that sensor's probe lasts only three days and will appeal to just a tiny percentage of diabetics; criticism has not deterred 73-year-old Mann; sensor is just a step toward Mann's ultimate goal--mechanical pancreas in which a pump would automatically dispense right amount of insulin in response to blood glucose levels detected by the sensor; Mann comments on his empire, which includes Spectrolab, Heliotex, Pacesetter Systems, Minimed, Advanced Bionics and Medical Research Group; chart; photos (M)