SENS - Abbott announces FDA clearance for FreeStyle Libre 3 glucose monitor

Abbott (NYSE:ABT) announced on Tuesday that the U.S. Food and Drug Administration (FDA) cleared its FreeStyle Libre 3 glucose monitoring system (CGM) for diabetic patients aged four years and older. Welcoming the decision, Jared Watkin, senior vice president of Abbott's (ABT) diabetes care, said that patients with diabetes will now have access to the “world's smallest and thinnest sensor and most accurate 14-day continuous glucose monitoring system." FreeStyle Libre 3 boasts a 7.9% overall mean absolute relative difference (MARD), a measure indicating the continuous glucose accuracy. Highly accurate CGM devices have a lower MARD. Abbott (ABT) intends to price the product at a level similar to previous versions. FreeStyle Libre 3 would be made available at participating pharmacies later this year, the company said. Read why rival CGM developer DexCom (DXCM) is trading higher today.

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Abbott announces FDA clearance for FreeStyle Libre 3 glucose monitor