Dexcom’s Q2 Earnings Exceed Wall Street Expectations; Holds G7 Launch
Dexcom expects 2020 revenues to reach $1.85bn driven by new patient adoption of its CGM device, but will not launch its next-gen G7 this year.
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Dexcom’s growth strategy includes growing its core business, expanding into pharmacy sales channel, and expanding into new markets.
Analyst Larry Biegelsen expects Abbott’s CGM move into the consumer market could open a large new marketing opportunity.
Abbott’s medical device sales were down about 20% year-over-year in the second quarter of 2020, but diagnostics sales were up 7%. Procedure trends at the end of the second quarter suggest that demand for devices will soon recover to pre-pandemic levels.