FreeStyle Libre, the company’s glucose monitoring (CGM) device used mainly by type 1 diabetes patients, brought in sales of about $1.4 billion in the third quarter, up 30.5%, and accounting for nearly 14% of the company’s revenue.
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Abbott Laboratories reported quarterly profit above expectations on Wednesday, underpinned by sales of its diabetes care devices and an improved demand for other devices due to a resumption in non-urgent medical procedures.
The multinational healthcare giant recorded overall medical device sales of $3.75 billion, missing analysts’ average estimate of $3.84 billion.
Abbott Laboratories on Wednesday raised its annual earnings forecast for the second time, citing strong demand for medical devices and COVID-19 diagnostic tests.
