Dive Brief:
- Abbott opened a manufacturing facility in Ireland that will make Freestyle Libre 3 glucose sensors.
- The 30,000-square-meter facility is part of Abbott’s attempt to increase production of the Libre 3 continuous glucose monitors (CGM) amid reports of delays in getting prescriptions filled.
- Abbott plans to employ more than 800 people at the plant in Kilkenny, Ireland, which will make more Libre sensors than any of the company’s other facilities, according to the Monday announcement.
Dive Insight:
Abbott launched Libre 3 in the U.S. in the third quarter of 2022. Speaking on an earnings call two years after the launch, Abbott CEO Robert Ford said the company had faced “temporary supply challenges” and as such had not “really unleashed Libre 3 fully yet.” Ford’s comment followed a report that some Libre 3 users had encountered delays when trying to get their prescriptions filled.
The company has invested in manufacturing capacity to increase supply, adding a new production line at an existing plant and now opening the new facility in Ireland. Abbott is making Libre 3 sensors at the new plant, which is powered by six air-to-water heat pumps and has nearly 600 solar panels on its roof.
Ford has predicted demand for CGMs could grow far beyond the current market, which includes around 10 million users. In October, the CEO said the market has “mass market potential,” noting that there are about 100 million people with diabetes in the developed world and about five times as many globally.
Abbott and its main rival Dexcom are also moving beyond diabetes by selling sensors as over-the-counter (OTC) wellness products. The OTC sensor launches are part of a busy year for diabetes technology, in which Abbott has struck a deal to pair its glucose sensor with Medtronic’s insulin delivery technology.
The opening of the site in Kilkenny is part of a 440 million euro ($464 million) investment in Ireland. The outlay has supported the construction of the plant in Kilkenny and the expansion of Abbott’s existing site in Donegal.
Abbott said the Donegal expansion is creating 200 jobs.