U.S. FDA Clears Abbott's FreeStyle Libre® 2 and FreeStyle Libre® 3 Sensors for Integration with Automated Insulin Delivery Systems
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DexCom drops after Abbott's diabetes sensors cleared for insulin delivery system integration
March 6, 2023 2:24 PM ESTDexCom (NASDAQ: DXCM) shares are down more than 8% Monday afternoon after Abbott (NYSE: ABT) announced that the U.S. Food and Drug Administration (FDA) has cleared its FreeStyle Libre 2 and FreeStyle Libre 3 integrated continuous glucose monitoring system sensors for integration with automated insulin delivery systems.
The Libre 2 and 3 sensors track the blood sugar of people with diabetes. This is then monitored via an app on the person's smartphone.
The FDA has cleared the ability for Abbott's modified sensors to integrate with an automated insulin delivery system... More
Evercore ISI Reiterates Outperform Rating on Abbott Labs (ABT), 'a preferential tiering for Libre could position it better for share gains in the larger T2 market'
March 6, 2023 10:19 AM ESTEvercore ISI analyst Vijay Kumar reiterated an Outperform rating and $114.00 price target on Abbott Labs (NYSE: ABT).
The analyst comments "Market opportunity / implications: The T1 market is smalland we would expect ABT to get some incremental share in the T1 market going... More
