The medtech giant’s Diabetes unit brought in sales of $1.4 billion in the quarter, marking 19.4% growth year-over-year.
Its FreeStyle Libre continuous glucose monitors (CGMs) continue to drive growth as CEO Robert Ford projected earlier this year. The addressable market for the sensor keeps growing, with massive coverage expansions all around the globe. Medicare’s coverage update kicked in this past spring. This modification includes people with diabetes who receive insulin treatment or have a history of problematic hypoglycemia.
Last month, France authorized reimbursement to include all people who use basal insulin as part of their diabetes management.
“This achievement was a direct result of the unique value proposition that Libre offers, a fully featured continuous glucose monitor made available at an accessible price,” Ford said in the company’s earnings call Thursday morning.
Integration opportunities continue to arise for Libre, too. Ford expects the company to finalize Libre integration into Tandem Diabetes Care’s insulin pumps in the U.S. this year. The companies first struck a deal to combine technologies in 2020. Last month, Insulet announced progress integrating FreeStyle Libre 2 into its Omnipod 5 insulin delivery system, too. Meanwhile, FreeStyle Libre 3 continuous glucose monitor (CGM) received UK authorization for use in automated insulin delivery this year.
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