Abbott Laboratories announced that its latest continuous glucose monitoring sensor, the FreeStyle Libre 3 Plus, will receive public funding in every Canadian province. The decision extends coverage to the federal Non‑Insured Health Benefits program and most employer‑sponsored workplace benefit plans, eliminating out‑of‑pocket costs for patients.
The Libre 3 Plus, approved by Health Canada in 2023, is the world’s smallest glucose sensor. It delivers real‑time readings every minute without finger‑stick calibration, can be worn for up to 15 days, and transmits data directly to a mobile app. The nationwide coverage is expected to accelerate adoption, boost Abbott’s market share in Canada, and reinforce its leadership in continuous glucose monitoring.
Abbott’s diabetes‑care segment already dominates the Canadian market, with competitors such as Roche, Medtronic, and Dexcom. The new coverage removes a key payer barrier, potentially increasing sales volume and revenue. Management highlighted the strategic importance: “The broad coverage is a clear testament to the deep impact and value of our technology,” said Luz Herrera, general manager of Abbott’s diabetes care business in Canada.
The Canadian federal government has been expanding access to diabetes supplies, including a 2024 fund to support devices. The FreeStyle Libre 3 Plus coverage aligns with that policy, positioning Abbott to capture a larger share of the 12‑million‑person diabetes population, 90% of whom have type 2 diabetes.
While the announcement does not include immediate financial figures, analysts expect the expanded coverage to translate into higher adoption rates and incremental revenue. Abbott’s broader strategy focuses on expanding access to high‑margin medical‑device products, and the Libre 3 Plus is a key component of that plan.
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