Our sibling site, Drug Delivery Business News, reported today that the companies agreed to a global partnership pairing Abbott CGMs with Medtronic insulin delivery systems.
Abbott and Medtronic want to collaborate on a system based on Abbott’s FreeStyle Libre continuous glucose monitors (CGMs) with Medtronic’s automated insulin delivery technology. The partnership arranges for Abbott to develop the sensor and Medtronic to sell it. It works exclusively with Medtronic devices.
The companies declined to disclose the financial terms of the partnership or the timeline for commercial availability.
BTIG analysts Marie Thibault and Sam Eiber say the news of the collaboration initially surprised them. However, they think the move helps open the diabetes market for both companies while remaining in a “coopetition arrangement.” The CGMs developed in the collaboration only work with Medtronic devices, meaning they can’t operate as standalone systems.
The analysts don’t anticipate FDA approval or CE mark for the integrated system in Medtronic’s fiscal year (which ends in May 2025).
Medtronic also received FDA approval for its Simplera CGM today, adding another boost to its portfolio.
Get the full story at our sister site, Drug Delivery Business News.
