Speaking at the J.P. Morgan Healthcare Conference, CEO Robert Ford highlighted diabetes as a key area for near-term growth. Specifically, in the presentation transcribed by SeekingAlpha, Ford said he expects the FreeStyle Libre continuous glucose monitor (CGM) to significantly drive growth.
“FreeStyle Libre has fundamentally changed the management of diabetes,” Ford said. “[It’s] our market-leading wearable glucose sensor… There are now more than 5 million users of Libre around the world, with 2 million in the United States.”
Ford said the company sought to target the mass market with FreeStyle Libre, finding success there. Sales now annualized at more than $5 billion for the device and the company sees even more opportunity. With more than 500 million people living with diabetes worldwide, Ford says Abbott has “just begun to scratch the surface.”
“There are several new growth opportunities for us on the horizon,” he declared.
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