11/15/2023 0 Comments Cgm findings addressThe use of CGMs also increased in patients on non-insulin therapy by 4.2 times. Per the data provided, use of these monitoring devices doubled on average for patients on intensive insulin while the same was up 3.8 times for patients on basal insulin alone. These devices are often paired with insulin pumps.ĭexCom presented that the use of CGMs have increased across all segments of patients with type II diabetes after beginning treatment with GLP-1 drugs. While GLP-1 are drugs that are prescribed with specific doses within regular intervals, CGM devices are worn on the body and can measure blood sugar in real time. Image Source: Zacks Investment Research DexCom Findings The S&P 500 Index has gained 17.2% in the same time frame. Shares of DexCom have lost 5.3% year to date compared with the industry’s 4.8% decline. This caused DXCM’s shares to rise in the previous week. However, DexCom stated in its presentation last week that it has surveyed and observed rising adoption of its CGM devices among patients initiating GLP-1 therapy, contradicting the assumptions. The potential rise in competition from GLP-1 drugs is an overhang for CGM-makers like DexCom, with analysts assuming negative impact over the next six months to a year. Some analysts believed that total addressable markets for CGM devices is cut meaningfully with the rising adoption of these drugs. These GLP-1 drugs, which were first approved for treating type II diabetes, are currently gaining popularity as obesity treatment. Last week, the company presented a positive picture for its continuous glucose monitoring (CGM) devices, allaying investors’ fears about rising competition from GLP-1 drugs like Wegovy, Ozempic and Mounjaro. DexCom's ( DXCM Quick Quote DXCM - Free Report) shares have risen 6.9% since Tuesday last week, while yesterday’s after-market movement took the rally to nearly 8%.
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