Biotech Values

[DewDiligence]

DXCM statement_on GLP-1 drugs lifts_stocks_of med-device companies:

https://www.investors.com/news/technology/dexcom-stock-leads-a-medtech-rally-how-it-allayed-concerns-of-a-weight-loss-bloodbath/

Dexcom (DXCM) stock helped lead a medical surge Wednesday after the company allayed concerns that popular weight-loss drugs like Wegovy would tamp down usage of its diabetes devices.

Instead, the inverse appears to be true, Dexcom said in a presentation Tuesday. Across all segments of patients with type 2 diabetes, use of continuous glucose monitors…increased after beginning treatment with GLP-1 drugs like Wegovy, Ozempic and Mounjaro.

…Dexcom analyzed insurance claims from Optum. On average, CGM use doubled among patients taking intensive insulin regimens after they began treatment with a GLP-1 drug.

For patients on basal insulin or non-insulin therapies, CGM use increased roughly fourfold after beginning GLP-1 treatment.

Today’s moves:

DXCM +7%
ZBH +4%
TNDM +3%
PODD +3%
ABT +1%

p.s. Contrary to what the IBD article says, ZBH does not sell devices for sleep apnea.