Dexcom Shows It Can Still Hang With Abbott

When Abbott Laboratories received FDA approval for its FreeStyle Libre Flash, a glucose monitoring system that can be used as replacement for blood monitoring, no other competitor was impacted more than DexCom.  Shares of the San Diego-based company crashed more than 36% upon news of the FreeStyle Libre's approval. DexCom also lost out to Abbott when Bigfoot Biomedical selected the Abbott Park, IL-based company as a partner for a diabetes management system designed to analyze patients' glucose readings.  However, DexCom showed it still had some fight left by soundly beating Wall Street expectations and growing revenue by 29% in its most recent reported quarter.  The San Diego-based company brought in revenue of $221 million in the period exceeding consensus estimates of $215.9 million. Network with your colleagues in medtech at ADM Cleveland, March 7–8, 2018.  "Looking ahead to 2018, we provided our initial outlook in early January and we continue to anticipate total revenues of $830 million to $850 million with sensor volumes, international growth and the patient base all expected to grow faster than our revenues,”DexCom CFO Quentin Blackford, said according to a Seeking Alpha Transcript. DexCom has been hardly resting on its laurels. In November of 2017,  the company announced a development agreement with Eli Lilly and Company to include the DexCom CGM to improve the future of diabetes management. “Our recently-announced collaboration with Eli Lilly, which is ...
Source: MDDI - Category: Medical Devices Authors: Tags: Medical Device Business Source Type: news