Millions of Americans may be thrilled to learn that the Food & Drug Administration has approved a device that is finger prick-free to monitor glucose levels continuously.
The FDA has approved Abbott Laboratories’ FreeStyle Libre which is a small sensor wire inserted below the skin’s surface on the back of the upper arm that continuously monitors glucose levels. It is the size of a bottle cap and removes the need for daily finger pricking to monitor levels.
According to Jefferies analyst Raj Denhoy, the device will be a “game-changer” for diabetic adults.
There’s a similar device on the market from DexCom Inc., but that one must be calibrated with a finger prick twice a day. DexCom is about a year away from a device similar to the Libre.
“People don’t want to prick their fingers,” Jefferies analyst Raj Denhoy said on Wednesday. “They’re willing to give up some level of accuracy for the ease of the device.”
The Libre will have a price tag of about $140 for a sensor and reader according to the company. The sensor must be swapped every 10 days.
Disclaimer: We have no position in Abbott Laboratories (NYSE: ABT) nor DexCom, Inc. (NASDAQ: DXCM) and have not been compensated for this article.