FDA hits Abbott FreeStyle Libre 3 recall with Class I tag [Yahoo! Finance]
Abbott Laboratories (ABT)
Last abbott laboratories earnings: 4/16 07:30 am
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Source: Yahoo! Finance
The FreeStyle Libre 3 sensor is a component of Abbott's popular FreeStyle Libre 3 continuous glucose monitoring system (CGM). Abott's FreeStyle Libre range generated $1.4bn in sales in Q4 2023, representing sales growth of 25.5%. CGM is a category of diabetes medical devices that use a sensor under the skin to measure glucose levels in real time, with information then transmitted to a linked handset or smartphone. Systems such as the FreeStyle Libre 3 help people manage diabetes by providing information on glucose levels so treatment can be adjusted if needed. The issue with Abbott's technology relates to a small number of sensors in the US providing incorrect high glucose readings. This, the FDA states, could pose a potential health risk for people living with diabetes. Patients who see a high reading may, in fact, have severe low blood sugar – hypoglycaemia – leading to severe health problems such as loss of consciousness, seizures, and brain damage, among others. The FDA s
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ABT
Earnings
- 7/18/24 - Beat
ABT
Sec Filings
- 9/13/24 - Form 4
- 9/12/24 - Form 144
- 9/4/24 - Form 4
- ABT's page on the SEC website