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The devices, one for the health-conscious and another for those with diabetes, follow the company's FreeStyle Libre, which generates over $1 billion every quarter and is sold under prescription ...
FDA's role under the guidelines is to monitor company recalls and assess the adequacy of a firm's action. After a recall is completed, FDA makes sure that the product is destroyed or suitably reconditioned and investigates why the product was defective. Generally, FDA accepts reports and other necessary recall information submitted by e-mail.
In 2022, Abbott was ranked #10 in Fast Company’s Most Innovative Companies in Sports for Libre Sense and received an Honorable Mention for the World Changing Ideas Awards. [95] [96] The Galien Foundation named Abbott’s FreeStyle Libre as Best Medical Technology within the last 50 years (1970-2020). [97]
The later Freestyle Libre 2 version of Abbott's device uses different, incompatible, sensors. It can be programmed to transmit a low blood sugar (hypoglycemia) or high sugar warning via Bluetooth to a nearby device and, as of 2023, transmits glucose readings via Bluetooth on a 60-second basis effectively making a CGM and not a flash glucose monitor
The healthcare stock is lagging the market this year.
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