DexCom & #039;s Preliminary Numbers Shine at J.P. Morgan

DexCom continues to shine despite growing competition in the diabetes management space. The San Diego, CA-based company shared preliminary financial results; presented guidance for this year; and gave an update on its G7 Continuous Glucose Management (CGM) sensor during the 38th annual J.P. Morgan Healthcare Conference. DexCom brought in about $457 million in 4Q19, which was an increase of more than 35% over 4Q18. For this year, Dexcom currently anticipates total revenue of about $1.7 billion to $1.8 billion, representing an expected growth of approximately 17% to 21% over 2019. DexCom’s Chairman President and CEO Kevin Sayer said the increase was because of the spread of CGM coupled with support of the firm’s G6 system. The company’s CGM hit a major milestone in March of 2018 when it won an indication from FDA to be classified as a less-stringent class II device that is interoperable with other technologies. “We’re not at all looking to maintain the status quo as we increase access and awareness around the world,” Sayer said during the conference. “We’ll be able to finish the Medicare rollout for G6 and launch G6 into many international markets where it hasn’t been before.” Plans call for the company to double G6 capacity by the end of the year. Sayer noted that capacity has been constrained for G6...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Source Type: news