Dexcom Discovers Theft of Glucose Sensors
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
Source: Newsfilter
- Theft Incident: Dexcom identified through quality reviews that two lots of Dexcom G7 sensors were stolen during the destruction process and sold by third parties, impacting user safety and necessitating close collaboration with the FDA and other authorities to ensure user safety.
- Affected Lots: The stolen lots include 1725204004, which poses a risk of skin infection, and 1725069002, which may not provide sensor readings; Dexcom has notified customers and advised them to stop using these sensors to prevent potential harm.
- Sales Channel Investigation: Dexcom traced the sales of the stolen products back to Pharmsource, LLC, an unauthorized distributor supplying some independent pharmacies and DME distributors, prompting Dexcom to request these pharmacies to carefully review their inventory for safety.
- User Communication Measures: Dexcom is directly notifying affected customers through various channels, prioritizing communication to US customers to ensure they understand how to identify affected sensors and request replacements, demonstrating the company's strong commitment to user trust and safety.
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Analyst Views on DXCM
Wall Street analysts forecast DXCM stock price to rise
16 Analyst Rating
13 Buy
2 Hold
1 Sell
Strong Buy
Current: 72.340
Low
68.00
Averages
82.54
High
100.00
Current: 72.340
Low
68.00
Averages
82.54
High
100.00
About DXCM
DexCom, Inc. is a medical device company. The Company is primarily focused on the design, development, and commercialization of continuous glucose monitoring (CGM), systems for the management of diabetes and metabolic health by patients, caregivers, and clinicians. It enables people to take control of health through innovative biosensing technology. The G7 is an integrated continuous glucose monitoring system. Stelo is designed specifically for people with type II diabetes who do not use insulin as the first over-the-counter glucose biosensor in the United States. The Dexcom Share remote monitoring system, offered for use with any Dexcom system, uses an app on the patient’s compatible mobile device. Its Dexcom G7 is for adults and children (2+ years) living with type I or type II diabetes who are on any insulin or medications, at risk of hypoglycemia, and those with gestational diabetes. The G7 and G7 15 Day includes finger stick elimination, continuous glucose readings and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- First FDA-Cleared Product: The AI-powered glucose monitoring system developed by Signos is expected to receive FDA clearance in 2025, becoming the first product focused on healthy weight loss, marking a significant innovation breakthrough in health management.
- New Distribution Agreement: This funding round includes a new distribution deal with Dexcom to feature Signos' subscription plans on Dexcom's direct-to-consumer site, which is anticipated to significantly enhance user acquisition and market penetration to meet the rising demand for weight loss solutions.
- AI Feature Expansion: The fresh funding will also be directed towards expanding predictive AI features, such as meal scoring, which helps users predict the impact of specific foods on their glucose levels before consumption, thereby driving behavior change and enhancing user experience and market competitiveness.
See More
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- Testing Failure Rate: An elevated internal testing failure rate in one of the lots may result in no sensor readings, raising further concerns about patient safety and potentially impacting future sales and market share.
- Supply Chain Alert: DexCom has warned vendors who purchased devices from Pharmsource LLC, emphasizing the company's commitment to product safety while notifying affected customers to mitigate potential legal liabilities.
- Stock Price Reaction: Despite the negative news surrounding the theft, DexCom's stock price rose slightly by 0.33%, currently trading at $72.33, indicating some market confidence in the company's long-term outlook.
See More
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- Theft Incident: DexCom reported that some G7 sensors, which were supposed to be scrapped, were stolen and resold, with two lots identified as having been used by customers, indicating a significant supply chain management failure.
- Unauthorized Distributor: The investigation revealed that the stolen sensors were sold through Pharmsource, LLC, a non-authorized distributor supplying independent pharmacies and durable medical equipment distributors, potentially damaging the brand's reputation.
- Quality Control Issues: DexCom noted that certain sensors were routinely routed to scrap due to not meeting quality control standards, highlighting challenges in product quality management and supply chain security.
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See More
