Abbott's Freestyle Libre reduces hypoglycemia, offers comparable monitoring without finger-sticks: Study
Abbott reported the latest data for its FreeStyle Libre system that doesn't require twice-daily finger sticks for calibration, as CGMs typically do. The 6-month randomized, controlled trial was conducted in Europe; it compared the use of the FreeStyle Libre to traditional finger stick-based blood glucose self-monitoring systems. The study found that Libre users reduced time spent in hypoglycemia by more than one-half and cut serious hypoglycemia by half.
Abbott now has a mobile app to collect and share data for its continuous glucose monitor that doesn't require routine finger-stick calibration, FreeStyle Libre. The app was created by AirStrip Technologies--and now partner Diasend also enables patients to view that data alongside information from other compatible devices including insulin pumps, blood glucose meters and activity trackers.
St. Jude Medical has been working for a couple of years to make the case for its tiny implantable heart failure monitor CardioMEMS--without much sales success thus far. But it gained a bit more fodder with the inclusion of the device to the European Society of Cardiology guidelines as a recommended tool to diagnose and treat acute and chronic heart failure.
Abbott and Alere aren't on the same page regarding the former's $5.8 billion acquisition of the latter. Abbott announced on Wednesday that it is auditing Alere's books, while the diagnostics maker--despite being under a federal investigation for its international sales practices--said it still expected the acquisition to close as planned.
Med tech is attracting a huge range of strategic investors right now. Healthcare is almost universally recognized as in need of rationalization--the application of technology in the effort to achieve better outcomes at lower costs. Medical devices and diagnostics, and the data that they generate, are expected to be central to achieving that goal in the coming decades.
Abbott Laboratories is seeking a new path to growth--and it's betting big that med tech is it. The company is taking on two of the largest M&A transactions in history at the same time: the more than $5.8 billion purchase of diagnostics player Alere that it announced at the start of February and the more than $25 billion buy of cardiovascular device player St. Jude Medical that was disclosed in late April.
Abbott has avoided addressing rumors that its deal with point-of-care diagnostics maker Alere is on the rocks. But according to Alere, the Illinois med tech wants out.
Abbott said last year that it wasn't interested in St. Jude, but now, the company is changing its tune. The Illinois devicemaker will shell out $25 billion for St. Jude to gain ground in the cardiovascular and neuromodulation markets.
Abbott Laboratories was cleared by a Texas federal jury of accusations it violated the False Claims Act by wrongly marketing bile duct stents in a whistleblower case that sought more than $1 billion in damages.
Abbott's Absorb bioresorbable stent took a step closer to FDA approval, winning the overwhelming backing of an FDA advisory panel of experts, who voted 9-0 (with one abstention) to recommend approval of the device based on an analysis of its risks and rewards.