Published Date : Sep 28, 2017
FreeStyle Libre, Abbott Laboratories’ finger prick-free sensor wire the size of a bottle cap for diabetics, has received a nod from the Food and Drug Administration (FDA). It has been foreseen that finger pricks could soon be replaced by wearable sensors for American diabetics. The newly approved device eliminates the need to prick a finger daily for checking glucose levels in diabetics. It could constantly monitor glucose levels after being inserted on the back of an upper arm, under the skin’s surface.
The FDA has approved a similar offering by Dexcom, Inc. last year, but it required to be calibrated with a finger prick two times a day. Thus, Abbott’s new device could be the first finger prick-free one permitted by the FDA.
Dexcom Slumps after FDA Approval for Abbott’s Finger Prick-free Device
Titled to be a “game-changer” for diabetic adults, FreeStyle Libre has been expected to up Abbott’s stocks in quick succession. Some analysts have recommended purchasing Abbott’s stocks, considering that people don’t want to prick their fingers daily and could be willing to sacrifice some level of accuracy for the sake of ease of using the new sensor. After the Wednesday approval, rival Dexcom’s shares dropped severely. The stock plummeted 16.0% to US$57.0, whereas Abbott leaped 3.6% to US$54.0.
Illinois-based device maker, Abbott Park has said that the device will cost at its similar price in Europe, where it is put on sale for the equivalent US$140.0 for a reader and a sensor. Since the sensor needs to be swapped with a new one every 10 days, the amount could reach a total of US$1,900 per year in Europe, including 26 sensors and one reader.