CLAIM #2949 · Abbott Laboratories (ABT) · 2022Q3 earnings call · Oct 18, 2022 · due Dec 31, 2028
“We believe that we've got pathway between 15 million and 20 million users on this product.”
Robert Ford · CEO
How to check this claim
Look at: Total number of users on the Libre (Diabetes Care CGM) product
It came true if: Reported user count between 15 million and 20 million
Where: Company-disclosed user metrics (10-K / investor presentations / earnings call commentary on Diabetes Care segment)
In context
“DMEs. And this is a segment where we do very well. If you do an audit of prescriptions by physician class, Libre has taken about 80% market share of the primary care Rx. So the team has been working on that. So I think it's a great opportunity. And I think this kind of fuels into this notion of this is a much larger market than has historically been contemplated as part of CGM, and that's what our strategy from the moment we enter the market has been thinking about it, right? We're not looking at sprinting quarter-to-quarter, we're looking at this over the long term and making the investments to be able to sustain this kind of growth rate. We announced manufacturing capacity expansions also in the quarter for Diabetes Care because we believe this is a $10 billion franchise by 2028. We believe that we've got pathway between 15 million and 20 million users on this product. So we're resourcing our manufacturing, our scale, our commercial infrastructure, our service, our clinical investments to be able to support what I believe is a significant growth opportunity, and we intend to lead that. I think your other question was on vitamin C. Yes, we have completed the clinical work on the vitamin C. I'll provide updates at the appropriate time. I do recognize that this is an important, I would call short-term, medium-term kind of growth driver for us. If you think about our franchise, it's going to be about basal, type 2 and pump integration. So think of that in the next kind of 2, 3 years of key core growth drivers. And then I'd say, more longer term to get to those numbers, I made an announcement beginning of this year regarding looking at this outside of”
Verify independently
SEC filings for ABT ↗ · Claim quote is verbatim from the 2022Q3 earnings call.