Option 1: Insulin

Insulin is a hormone that is secreted by the pancreas. It plays a key role in regulating the blood sugar levels in the body. When blood sugar levels rise, the pancreas releases insulin, which helps in the absorption and storage of glucose by the cells. Insufficient production of insulin can lead to diabetes, a condition where the body is unable to effectively regulate blood sugar levels. Therefore, option 1 is correct.

Option 2: Bile juice

Bile juice is not secreted by the pancreas. It is produced by the liver and stored in the gallbladder. Bile helps in the digestion and absorption of fats in the intestine. Therefore, option 2 is incorrect.

Option 3: Peptic juice

Peptic juice is not secreted by the pancreas. It is a combination of gastric juice and pancreatic juice, which aids in the digestion of proteins in the stomach. Therefore, option 3 is incorrect.

Option 4: None of these

This option is incorrect as the pancreas does secrete insulin. Therefore, option 4 is incorrect.