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Dexcom dips with Cigna deeming Abbott's Libre medically necassry.

Shares of Dexcom (DXCM) moved lower as traders circulated Cigna's (CI) policy update on home blood glucose monitors. The policy, effective January 15, 2018, deems Abbott's (ABT) Freestyle Libre Flash Glucose Monitoring System "medically necessary" for the management of type 1 or type 2 diabetes mellitus when conditions are met. The conditions are: age 18 years or older; completion of a diabetes self-management education program; documented blood glucose self-testing an average of at least four times per day; treatment program including at least three insulin injections per day with frequent self-adjustments of insulin dose for at least two months. On January 4, Abbott announced that its new continuous glucose monitoring system is now available to Medicare patients, having met the codes for therapeutic CGM systems used for coverage by the Centers for Medicare & Medicaid Services. Shares of Dexcom, which markets a competing blood glucose monitor, are off their lows but remain down 48c to $55.84. [Reference Link]:[https://cignaforhcp.cigna.com/public/content/pdf/coveragePolicies/medical/mm_0106_coveragepositioncriteria_blood_glucose_monitors.pdf]

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Publication:The Fly
Date:Jan 18, 2018
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