Abbott profit beats on strong sales of glucose monitoring system
-Abbott Laboratories on Wednesday tightened its profit forecast for the year after beating estimates for third-quarter earnings on strong demand for its diabetes care product.
FreeStyle Libre, the company's glucose monitoring 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. However, analysts are predicting that sales of CGM devices are expected to come under pressure with the growing popularity of new diabetes drugs such as Novo Nordisk will also be removed; self-promotional material or business-related solicitations or PR , and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
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