Abbott Laboratories (ABT)

[DewDiligence]

FDA approves version-2 of FreeStyle Libre continuous glucose monitor—several enhancements relative to version-1 with same low price:

https://finance.yahoo.com/news/abbotts-freestyle-libre-2-icgm-110100711.html

• FreeStyle Libre 2 is the only integrated continuous glucose monitoring (iCGM) system available that continuously transmits glucose data every minute with customizable, optional real-time alarms to alert users when their glucose is high or low without scanning

• Now for children (ages 4 and older) and adults with diabetes, this latest technology is the first and only iCGM that sustains performance for up to 14 days, providing trends, insights and actionable data

• FreeStyle Libre 2 system includes a self-applied sensor (the size of two-stacked quarters) that is easiest glucose sensor to apply and worn on the back of the upper arm, eliminating the need for painful fingersticks to test glucose levels

FreeStyle Libre version-1 was approved by the FDA in Oct 2017 (#msg-134957213). In 1Q20, the Freestyle Libre franchise had annualized sales of $2.4B, a level rarely attained by a medical device. With the approval of version-2 in the US market, annualized sales should continue their upward trajectory to what some analysts expect will be $5B+.