Abbott (NYSE:ABT) announced today that the Galien Foundation picked its FreeStyle Libre continuous glucose monitor (CGM) for a major award.
The foundation named FreeStyle Libre as the best “Best Medical Technology” of the last 50 years. Other medtech receiving the designation included Edwards Lifesciences’ Sapien 3 Ultra TAVR and Roche’s Cobas HPV test.
This announcement came at the Prix Galien Golden Jubilee Awards ceremony last night in New York City. The foundation picked award winners across five categories from 250 products awarded the Prix Galien between 1970 and 2019.
According to a news release, Prix Galien is regarded as the equivalent of the Nobel Prize for biopharmaceutical and medical technology research. FreeStyle Libre received the 2019 Prix Galien USA Award for Best Medical Technology.
“The Prix Galien Golden Jubilee Awards honor the global ‘best of the best’ innovations that have improved the human condition over the last 50 years,” said Bruno Cohen, chair of the Galien Foundation. “The companies behind these amazing innovations have a bold passion for change, which has led to the development of life-saving products.”
About Abbott’s FreeStyle Libre
Abbott received 11 Prix Galien Awards in its history. Those awards include its Humira, MitraClip and FreeStyle Libre offerings.
FreeStyle Libre 3 picked up FDA clearance for people with diabetes aged four years old and up in May. The latest-generation device from Abbott is the smallest and thinnest CGM sensor in the world. It comes at the size of just two stacked pennies.
Data presented in June demonstrated an overall MARD of 7.9%. Abbott said that made FreeStyle Libre 3 the first and only 14-day CGM to achieve a sub-8% overall MARD. FreeStyle Libre 3’s recent launch boosted the company’s third-quarter sales.
“Abbott’s FreeStyle Libre portfolio has revolutionized how people live with diabetes, eliminating the need for traditional fingersticks,” said Jared Watkin, SVP of Abbott’s diabetes care business. “Today, approximately 4.5 million people around the world use this life-changing technology to manage their diabetes and improve health outcomes, helping them live fuller, healthier lives every day.”