We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Abbott (ABT) FreeStyle Libre 2 Gets Reimbursement in France
Read MoreHide Full Article
Abbott Laboratories (ABT - Free Report) recently announced that the FreeStyle Libre 2 system's reimbursement coverage has been expanded by the French health authority to cover individuals using basal insulin as part of their diabetic therapy. Prior to this, only those with Type 1 or Type 2 diabetes, requiring strict insulin therapy, were eligible for FreeStyle Libre 2.
The latest development, while advancing Abbott’s Diabetes Care business line, facilitates broader access to continuous glucose monitoring (CGM) systems.
More on Reimbursement
France is the first nation in Europe to extend national coverage of Abbott's industry-redefining FreeStyle Libre technology to diabetics who take basal insulin. This comes after similar increases in reimbursement coverage for its technology in Japan and the Medicare programme in the United States. This adds an additional 3 million people with diabetes who are qualified to use FreeStyle Libre technology to control their disease.
Based on research demonstrating the clinical advantages of utilizing the FreeStyle Libre system among all insulin users, the French reimbursement expansion was approved. According to the Real-World Evidence of FreeStyle Libre (RELIEF) study, a retrospective analysis of the French national claims database, people with Type 2 diabetes using once-daily (basal) insulin significantly reduced their risk of developing acute complications from diabetes. This resulted in a 67% decline in hospitalisations.
Significance of Extended Reimbursement
It is worth mentioning that in France, Type 2 diabetes affects more than 90% of diabetics and can cause major issues affecting the heart, blood vessels, eyes, kidneys and neurological system if not treated properly. The increased reimbursement makes it possible for more people in France who have diabetes to use the most recent CGM technology, which can help them make wise decisions about their health and way of life.
Image Source: Zacks Investment Research
The decision to implement national reimbursement in France is a significant step towards granting persons with diabetes greater access. The benefits of continuous glucose monitoring, which were previously only available to those with Type 1 or Type 2 diabetes and who were undergoing extensive insulin therapy, are now accessible to a broader population of patients thanks to Abbott's FreeStyle Libre 2's increased reimbursement.
Industry Prospects
Per a Research report, the global diabetes devices market size was valued at $26.7 billion in 2021 and is expected to witness a compound annual growth rate (CAGR) of 8.2% by 2030.
The increasing adoption of insulin delivery devices and rising prevalence of diabetes are supporting market growth. Leading manufacturers are focusing on technological innovations and the development of advanced products to gain a substantial share of the market.
Progress Within Diabetes Business
In April 2023, Abbott announced thar using its FreeStyle Libre portfolio, the most widely used and reasonably priced continuous glucose monitoring system (CGM) in the United States, more Medicare beneficiaries, who are living with diabetes and using insulin, would be eligible for coverage. A FreeStyle CGM can now be covered by Medicare for diabetics with problematic hypoglycemia, a condition where a person's blood glucose is lower than normal and can cause fainting or unconsciousness.
The same month, Abbott announced that the FDA has approved a reader for its FreeStyle Libre 3 integrated continuous glucose monitoring (iCGM) system, which features the world's smallest, thinnest and most discreet glucose sensor. The FreeStyle Libre 3 reader is a small handheld device that displays real-time glucose readings directly from a small sensor worn on the back of a person's upper arm, allowing them to manage their diabetes quickly and easily by viewing their glucose readings on a large, bright and easy-to-see screen.
Price Performance
Shares of the company have gained 0.8% in the past year against the industry’s fall of 22.3%.
Zacks Rank and Key Picks
Abbott carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Hologic, Inc. (HOLX - Free Report) , Merit Medical Systems, Inc. (MMSI - Free Report) and Boston Scientific Corporation (BSX - Free Report) .
ologic, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 5.1% for fiscal 2024. HOLX’s earnings surpassed estimates in all the trailing four quarters, the average being 27.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hologic has gained 14.9% compared with the industry’s 9.8% rise in the past year.
Merit Medical, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11%. MMSI’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 20.2%.
Merit Medical has gained 58.1% compared with the industry’s 17.9% rise in the past year.
Boston Scientific, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11.5%. BSX’s earnings surpassed estimates in two of the trailing four quarters and missed in the other two, the average surprise being 1.9%.
Boston Scientific has gained 43.7% against the industry’s 22.3% decline in the past year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Abbott (ABT) FreeStyle Libre 2 Gets Reimbursement in France
Abbott Laboratories (ABT - Free Report) recently announced that the FreeStyle Libre 2 system's reimbursement coverage has been expanded by the French health authority to cover individuals using basal insulin as part of their diabetic therapy. Prior to this, only those with Type 1 or Type 2 diabetes, requiring strict insulin therapy, were eligible for FreeStyle Libre 2.
The latest development, while advancing Abbott’s Diabetes Care business line, facilitates broader access to continuous glucose monitoring (CGM) systems.
More on Reimbursement
France is the first nation in Europe to extend national coverage of Abbott's industry-redefining FreeStyle Libre technology to diabetics who take basal insulin. This comes after similar increases in reimbursement coverage for its technology in Japan and the Medicare programme in the United States. This adds an additional 3 million people with diabetes who are qualified to use FreeStyle Libre technology to control their disease.
Based on research demonstrating the clinical advantages of utilizing the FreeStyle Libre system among all insulin users, the French reimbursement expansion was approved. According to the Real-World Evidence of FreeStyle Libre (RELIEF) study, a retrospective analysis of the French national claims database, people with Type 2 diabetes using once-daily (basal) insulin significantly reduced their risk of developing acute complications from diabetes. This resulted in a 67% decline in hospitalisations.
Significance of Extended Reimbursement
It is worth mentioning that in France, Type 2 diabetes affects more than 90% of diabetics and can cause major issues affecting the heart, blood vessels, eyes, kidneys and neurological system if not treated properly. The increased reimbursement makes it possible for more people in France who have diabetes to use the most recent CGM technology, which can help them make wise decisions about their health and way of life.
The decision to implement national reimbursement in France is a significant step towards granting persons with diabetes greater access. The benefits of continuous glucose monitoring, which were previously only available to those with Type 1 or Type 2 diabetes and who were undergoing extensive insulin therapy, are now accessible to a broader population of patients thanks to Abbott's FreeStyle Libre 2's increased reimbursement.
Industry Prospects
Per a Research report, the global diabetes devices market size was valued at $26.7 billion in 2021 and is expected to witness a compound annual growth rate (CAGR) of 8.2% by 2030.
The increasing adoption of insulin delivery devices and rising prevalence of diabetes are supporting market growth. Leading manufacturers are focusing on technological innovations and the development of advanced products to gain a substantial share of the market.
Progress Within Diabetes Business
In April 2023, Abbott announced thar using its FreeStyle Libre portfolio, the most widely used and reasonably priced continuous glucose monitoring system (CGM) in the United States, more Medicare beneficiaries, who are living with diabetes and using insulin, would be eligible for coverage. A FreeStyle CGM can now be covered by Medicare for diabetics with problematic hypoglycemia, a condition where a person's blood glucose is lower than normal and can cause fainting or unconsciousness.
The same month, Abbott announced that the FDA has approved a reader for its FreeStyle Libre 3 integrated continuous glucose monitoring (iCGM) system, which features the world's smallest, thinnest and most discreet glucose sensor. The FreeStyle Libre 3 reader is a small handheld device that displays real-time glucose readings directly from a small sensor worn on the back of a person's upper arm, allowing them to manage their diabetes quickly and easily by viewing their glucose readings on a large, bright and easy-to-see screen.
Price Performance
Shares of the company have gained 0.8% in the past year against the industry’s fall of 22.3%.
Zacks Rank and Key Picks
Abbott carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Hologic, Inc. (HOLX - Free Report) , Merit Medical Systems, Inc. (MMSI - Free Report) and Boston Scientific Corporation (BSX - Free Report) .
ologic, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 5.1% for fiscal 2024. HOLX’s earnings surpassed estimates in all the trailing four quarters, the average being 27.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hologic has gained 14.9% compared with the industry’s 9.8% rise in the past year.
Merit Medical, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11%. MMSI’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 20.2%.
Merit Medical has gained 58.1% compared with the industry’s 17.9% rise in the past year.
Boston Scientific, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11.5%. BSX’s earnings surpassed estimates in two of the trailing four quarters and missed in the other two, the average surprise being 1.9%.
Boston Scientific has gained 43.7% against the industry’s 22.3% decline in the past year.