Dexcom (Nasdaq:DXCM) announced today that it appointed Teri Lawver to its newly created role of chief commercial officer (CCO).
Lawver’s position oversees the global commercial organization at the continuous glucose monitoring (CGM) technology developer. She holds responsibility for global sales, marketing and customer experience.
Before joining San Diego–based Dexcom, Lawver spent two decades in a variety of leadership roles at Johnson & Johnson. Her positions spanned the medical device, consumer medtech and pharmaceutical sectors. Most recently, she served as worldwide VP, immunology at J&J’s Janssen Pharmaceutical Companies.
“Teri is an exceptional leader who has repeatedly demonstrated the ability to drive growth and skillfully navigate the global healthcare landscape,” said Kevin Sayer, chair, president and CEO at Dexcom. “In this new role, Teri will lead Dexcom’s worldwide commercial teams as we build from a position of strength and look to bring Dexcom CGM to millions of additional people around the world who can benefit from our technology.”
Lawver also spent six years with J&J’s medical device companies. That included time as president of J&J Medical Companies, Canada. She has experience in the diabetes space, serving as worldwide GM of Animas, an insulin delivery company acquired by J&J.
Before J&J, she served as associate principal at McKinsey & Co. Prior to that, she began her career as a derivatives analyst at Bloomberg.
“I am thrilled to join Dexcom in the new chief commercial officer role and guide our talented team at this exciting time in the company’s history,” said Lawver. “I believe that the combination of Dexcom’s extensive market opportunity, leading technology and commitment to its customers makes this a truly unique role in healthcare. I look forward to supporting the company’s continued growth and global expansion.”
Dexcom announces preliminary Q4 results, sets 2023 guidance
Dexcom also today shared preliminary results for the fourth quarter ended Dec. 31, 2022. It expects at least $815 million in revenue, representing a 17% increase year-over-year. That includes U.S. revenues expected to total approximately $606 million. Analysts projected $807.7 million in sales for the quarter.
The company said it projects full-year 2022 revenues to total $2.91 billion for a 19% increase over 2021.
Dexcom also shared its sales guidance for fiscal 2023. The company anticipates revenues between $3.35 billion and $3.49 billion. That amounts to 15%-20% growth over 2022. The company attributed the growth to increasing CGM awareness and the launch of the Dexcom G7 CGM in the U.S. Other growth comes from G7’s continued rollout in international markets and further international expansion.
“Dexcom once again delivered strong performance in 2022, highlighted by significant growth in our global customer base and key regulatory clearances of our next-generation G7 CGM system,” said Sayer. “We are excited to hit the ground running in 2023, building upon the CGM access expansion that we have driven over the past year to bring our leading sensor technology and a greater quality of care to many more people with diabetes around the world.”
Shares of DXCM were down more than 5% to 109.93 apiece in morning trading today. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose more than 7%.