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Abbott Laboratories (ABT) - $25 value - yours FREE >>
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Abbott Labs (ABT) Reports Positive Data on FreeStyle Libre
Abbott Laboratories (ABT - Free Report) announced positive results from the IMPACT trial on FreeStyle Libre. Data were presented at the American Diabetes Association's 76th Scientific Sessions.
The randomized, controlled six-month trial was conducted to evaluate the effectiveness of the FreeStyle Libre system in the improvement of glycemic control for self-management of type 1 diabetes as compared to self-monitoring of blood glucose.
The study showed that FreeStyle Libre met the primary endpoint of a reduction in time spent in hypoglycemia (low glucose levels, defined as 1) by patients with type 1 diabetes.
Data also showed that patients using FreeStyle Libre sensor and reader system spent 38% less time in hypoglycemia, as compared to people who managed glucose with traditional self-monitoring of blood glucose (SMBG) systems such as finger pricking. The study revealed that FreeStyle Libre was effective in reducing all measures of hypoglycemia without increasing HbA1c compared to SMBG. This means that FreeStyle Libre can safely and successfully replace the need for routine finger sticks as a tool for managing diabetes.
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We remind investors that Abbott Labs launched the FreeStyle Libre system in France, Germany, Italy, the Netherlands, Spain, Sweden and UK in 2014.
Moreover, Abbott Labs received European approval for the use of FreeStyle Libre Flash Glucose Monitoring System in children in the first quarter of 2016.
Successful uptake of FreeStyle Libre should boost sales of Abbott Labs’ Diabetes Care franchise, which has been facing challenging conditions of late.
Abbott Laboratories currently carries a Zacks Rank #2 (Buy). Other favorably placed stocks in the healthcare sector include Pfizer Inc. (PFE - Free Report) , Bristol-Myers Squibb Co. (BMY - Free Report) and ANI Pharmaceuticals, Inc. (ANIP - Free Report) . All three stocks sport a Zacks Rank #1 (Strong Buy).
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