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MarketScreener Homepage  >  Equities  >  Nyse  >  Abbott Laboratories    ABT

ABBOTT LABORATORIES

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Abbott Laboratories : INTRODUCES LIBRE SENSE GLUCOSE SPORT BIOSENSOR IN EUROPE WORLD'S FIRST GLUCOSE BIOSENSOR DESIGNED FOR ATHLETES

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09/18/2020 | 08:59am EDT

Abbott (NYSE: ABT) is introducing the world's first glucose sport biosensor,i Libre Sense Glucose Sport Biosensor, which is designed for athletes to continuously measure glucose to better understand the correlation between their glucose levels and their athletic performance.

The Libre Sense biosensor is based on Abbott's world-leadingii FreeStyle Libre continuous glucose monitoring technology, which was originally developed for people living with diabetes. Based on that technology, this is the first personal-use product that allows for use beyond diabetes.

Abbott's Libre Sense Glucose Sport Biosensor, with CE Mark (Conformite Europeenne), is a consumer over-the-counter product that provides glucose monitoring via a mobile appiii to athletes (ages 16 years and older) performing sports such as cycling, running, and swimming, to understand the efficacy of their nutrition choices on training and competition. Tracking and understanding glucose levels enable athletes to fuel appropriately through nutrition to help avoid fatigue from low glucose and to know when to replenish during training and competition to maintain peak performance.

'FreeStyle Libre changed the way millions of people manage their diabetes to get and stay healthier, and now with Libre Sense we're bringing that same proven technology to empower athletes to help them reach their athletic performance goals,' said Jared Watkin, senior vice president, Diabetes Care, Abbott. 'This is just the beginning - our breakthrough sensing technology has the potential to go beyond glucose and provide a lens into what's happening in the human body that could provide meaningful insights into other conditions, treatments, and ultimately improve health.'

Proper nutrition at the right intervals allows athletes to maintain a stable glucose level during endurance activities, which is important for managing overall energy and avoiding muscle fatigue. A study published in the American College of Sports Medicine showed that an athlete who understands the effects of their nutritional intake will have a better chance at improving their performance during exercise.iv In addition, research has shown that understanding real-time glucose levels can guide nutritional intake to help improve muscle recovery and athletic performance.v

To obtain glucose readings from Abbott's Libre Sense Glucose Sport Biosensor, athletes will wear the small round biosensor (approximately the size of a two Euro coin) on the back of their upper arm. The biosensor will provide real-time glucose values and can be worn for up to 14 days. The user will automatically receive streaming glucose data, via Bluetooth wireless technology, every minute designed to work with compatible mobile apps and wrist readers.

Working together with sports technology companies for distribution, Abbott's Libre Sense Glucose Sport Biosensor is designed to be compatible with these companies' mobile apps and other accessory devices. Abbott's first non-exclusive collaboration is with Supersapiens, an Atlanta-based sports technology company that is focused on improving athletic performance. Their mission is to provide athletes with actionable and personalized insights on real-time biometric data, starting with glucose.

'With Abbott's Libre Sense, for the first time, an athlete will have access to glucose data to help give them insight into their body's fuel level at all times, fundamentally changing the way athletes think about energy management,' said Phil Southerland, founder of Supersapiens and former professional cyclist. 'By combining Abbott's proven track record in glucose sensing technology along with Supersapiens' app and personalized analytics, athletes will be primed to sustain peak performance.'

Supersapiens has partnered with some of the top teams at the Tour de France, the largest annual sporting event in the world, who are utilizing the energy management system and have worn the Libre Sense biosensor in training as part of an observational trial. Through this experience, the athletes were able to track their glucose data to help inform them of fueling strategies to prepare them for the race.

Abbott's Libre Sense Glucose Sport Biosensor will be available in the coming weeks directly through the Supersapiens website. The product will initially be made available across eight European countries: Austria, France, Germany, Ireland, Italy, Luxembourg, Switzerland and the United Kingdom.

About Abbott Libre Sense Glucose Sport System

The Abbott Libre Sense Glucose Sport Biosensor is intended for athletes to measure glucose. Athletes are defined as individuals who perform exercise with the purpose of improving wellness and performance. When used with a compatible product, the biosensor allows athletes to correlate their glucose levels and their athletic performance. The biosensor is not intended for use in the diagnosis, treatment, or monitoring of a disease.

About Abbott

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 107,000 colleagues serve people in more than 160 countries.

Connect with us at www.abbott.com, on LinkedIn at www.linkedin.com/company/abbott-/, on Facebook at www.facebook.com/Abbott and on Twitter @AbbottNews and @AbbottGlobal.

i The biosensor is the world's first continuous glucose biosensor specifically designed for athletes; data on file, Abbott.

ii Data on file, Abbott Diabetes Care. Data based on the number of users worldwide for the FreeStyle Libre system compared to the number of users for other leading personal use, sensor-based glucose monitoring systems.

iii Biosensor is designed to work with compatible partner mobile apps.

iv Moore, D. 2015. Nutrition to Support Recovery from Endurance Exercise: Optimal Carbohydrate and Protein Replacement. American College of Sports Medicine. 14(4), pp. 294-300.

Contact:

Tel: +1 224-668-1872

(C) 2020 Electronic News Publishing, source ENP Newswire


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Financials (USD)
Sales 2020 33 885 M - -
Net income 2020 4 415 M - -
Net Debt 2020 11 438 M - -
P/E ratio 2020 44,0x
Yield 2020 1,34%
Capitalization 191 B 191 B -
EV / Sales 2020 5,97x
EV / Sales 2021 5,21x
Nbr of Employees 107 000
Free-Float 88,8%
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Number of Analysts 23
Average target price 117,78 $
Last Close Price 107,79 $
Spread / Highest target 20,6%
Spread / Average Target 9,27%
Spread / Lowest Target -23,9%
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Robert B. Ford President, CEO, Chief Operating Officer & Director
Miles D. White Executive Chairman
Robert E. Funck Chief Financial Officer & Executive Vice President
Roxanne Schuh Austin Independent Director
Samuel C. Scott Independent Director
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