abbott diabetics

Discussion in 'Abbott' started by Anonymous, Aug 22, 2008 at 2:48 PM.

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  1. anonymous

    anonymous Guest

    The 10 simple truths of being a Abbott Diabetes Care sales representative

    1. Meter's are commodities; Patients get what their plan covers, period
    2. Plans choose what to cover based solely on price; Fractions of penny's; Nothing else matters
    3. The FDA requires that all meters must be equally accurate. Doc's don't care which one a patient uses; Just that they use one
    4. Doc's write "BGM" on new patient scripts; the pharmacists checks the patient's plan, and gives them the meter that matches; They don't care which one
    5. Same as above for educators etc who interact with patients
    6. There's absolutely no reason for a doc, educator, pharmacists to talk to a meter rep
    7. That's why meter reps drop samples vs. sell
    8. Reps can roll play all they want; they will still never detail a meter to anyone; except an elderly person they manage to entice with a free slice of pizza while they are waiting around for a script at a CVS or Walgreens
    9. CGM is DOA as a wholesale replacement to BGM: "if it ain't broke, don't fix it"
    10. These incontestable truths are known to all in this industry
     

  2. anonymous

    anonymous Guest

    especially
    I agree with most of the above.

    However, CGM is getting cheaper. Was about $17/day and with Libre it is down to about $5/day. In a few years it will be at or below $2/day use Bluetooth and send data to your cell phone. It will NEVER be cheaper than strips so most patients will use strips. However, there are patients who will pay the $60 a month ($2 day) to better manage their health. Thus there is a high end market for CGM type products. Especially those on insulin and are type 1. Maybe use cheap CGM on initial diagnosis to determine a treatment plan or when the patient is not responding to the current protocol.

    For the average Joe with type 2 it will be a few tests and few strips a week to make his/her Doc happy. And this folks is about 90% of the market.
     
  3. anonymous

    anonymous Guest

    That's with a very generous subsidy....

    Insignificant: in the US, that's less than 5% of the market. Not even worth launching.

    Still too small for Abbott and stand alone product. CGM will be incorporated into other devices, for overall diabetes management; this cost sharing will reduce cost to a fraction of what Abbott can do on its best day.

    Spot on there. This will be a generic business. Asian companies will own this.
     
  4. anonymous

    anonymous Guest

    At the right price there is a market for CGM. DexCom and Google (Verily) are putting $40M and more into this endeavor as well as Medtronic and Roche.

    These systems will be high end compared to strips and paid for by those who have the means and the need for the product. CGM offers many advantages over strips.

    I know about what it cost to make a Libre sensor and what the sales price is and the margin is high. What I don't know is the exact failure rate in production or in the field. Early on I heard it was about 20% for the field. Last study I read showed 10%.

    Again, a $2/day disposable Bluetooth CGM sensor will be the norm in three to five years. It will be useful for many and probably make a few bucks for the company that wins this market. I doubt Abbott will spend the $40M or more needed to keep up in CGM so I get the feeling the big player will be DexCom/Google in a few years. However, even at $2/day, it cost too much for most of the world and will not replace the test strip.
     
  5. anonymous

    anonymous Guest

    There is always a "right price" ... for Abbott, the magic number is in the "are you out of your f-ing mind!!!" territory. Miles, if he managed to not have a coronary on the spot, would probably need to be physically restrained for strangling any exec that proposed a product with the 2X the margin contribution needed to get to the "right price".

    You've just cut you potential market share from less than 5%, to less than 1%. You know what socio-economic classes Diabetes is highest in, right?

    Irrelevant.

    I get the feeling it will not look like anything you have envisioned.

    It will not be the traditional players. Here's what we do know: the likes of Samsung, Apple, LG, Sony, etc are very actively partnering with leading manufacturers of clothing, like Levi's, Nike, etc, and bringing in next generation medical software and device companies, many of which are start ups. They are developing wearables and implants that coordinate with each other, and with devices we all carry, all using open code, that actively interact with systems that interface with universal data bases, and feed dashboards used by doctors offices, hospitals, even emergence services.

    This bigger than any one company. The dinosaurs, the ones like Abbot that want to do it all themselves, will be left behind. In fact, they already have been.

    The only way this gets to the "right price" is for all components, from an implant, to a smart phone, to a Fitbit type device, to an insulin pump, to a pacemaker, to all seamlessly interact, and feed data that is not proprietary.

    To put in another way, an implant that monitors glucose must also do other things to be cost effective. It must work seamlessly with ANY insulin pump, and feed data to ANY medical providers chosen patient management system.

    This wil happen. The people doing this see Abbott as your grandfather's Oldsmobile.
     
  6. anonymous

    anonymous Guest

    Exactly. Totally agree.

    Most here seem to think CGM is not viable but that is not true. It may not be a profitable endeavor for Abbott but it is very narrow to think that this technology is not useful for the patient and not profitable for a more efficient company. It started with Abbott and other pharma companies but will be picked up by the large tech companies. I know for a fact that Verily (Google Bio) is dead set on getting this market. So I guess all the strips will be made in Asia and Abbott, Roach, and Medtronic will be left behind. But there will be a transition period where the these three will play in the CGM market. If Abbott is smart it will partner with someone if it wants to play in this space.
     
  7. anonymous

    anonymous Guest

    We need to bring back Heather!
     
  8. anonymous

    anonymous Guest

    Why? She will just run away again when it gets tough. See did make a few good decisions though.
     
  9. anonymous

    anonymous Guest

    Abbott is too arrogant and introverted to partner with anyone. Abbott wants complete control, and is to distrusting of anyone outside.

    As for Roach and Medtronic, they have already been left behind. They just don't know it.

    The current CGM products are not being "picked up" by anyone; they serve as the basis for nothing. When the history of the new generation of integrated healthcare is written, companies like Abbott, Roach, and Medtronic will not even merit a footnote.
     
  10. anonymous

    anonymous Guest

    Sad sap can't even spell competitive companies correctly. ADC knew what they were doing when they fired you.
     
  11. anonymous

    anonymous Guest

    Thanks for proving you are a troll. At ADC, we refer to Roche as "Roach". What are you doing here? Sicko.
     
  12. anonymous

    anonymous Guest

    Interesting. The CGM market as of today is almost $1B a year and this is nothing? Dexcom, Google, Roche, and Medtronics are investing tens of millions to do future CGM. Where are you coming from? This is not 1999 when the first CMGs came out. This is the era of cell phones, low energy Bluetooth, high integration ICs, high energy density batteries, etc. The time for cost effective CGM and other bio sensing is NOW. The pharma companies may not do this or stick with it, but someone will and people will buy these products and the implementers will profit.

    I think you have sold too may strips in your career...you and many others are blind to the future.
     
  13. anonymous

    anonymous Guest

    I think you have missed the whole point. But then, you are clearly a product of the old school, who's vision is a tunnel, based upon the assumption of the continuation of a 60 year old pharmaceutical device industry. Roach, medtronics, Abbott, are investing in CD's because they believe that will take a 25% share of the plastic record business someday. They think clouds are something that can produce rain. Get it? Billions are being invested. Diabetes management is one small part of a much bigger vision.
     
  14. anonymous

    anonymous Guest

    What we get is that you're a board hopping unemployed lonely troll ..GET IT ?
     
  15. anonymous

    anonymous Guest

    You again? The one that doesn't know ADC employees refer to Roche as "Roach"? The same poster who responds to every post with the same basic line "you're unemployed" or "you were fired"?

    You add nothing, and you're getting tiresome. Move on...
     
  16. anonymous

    anonymous Guest


    No not that guy you tool, but you still need to find work instead of trolling on 10 boards looking for sympathy cause your ass was booted.

    NANCY BERCE ROCKS
     
  17. anonymous

    anonymous Guest

    You're a joke. You've been called out, so now move along. Loser.
     
  18. anonymous

    anonymous Guest

    So you are monitoring 10 boards a day? How else could you make such a statement? Isn't THAT the definition of a troll? Doesn't that prove it's YOU that has considerable time on your hands, and you couldn't possibly do that and have a job?

    The people that read and post here are current Abbott employees; the ones posting on this thread are ADC employees. Why are you here?
     
  19. anonymous

    anonymous Guest

    I think what you are saying, and i agree, is that what tradition pharma companies are investing in CGM is a fraction of what tech and other non-traditional companies are investing. And that WHAT the non-dharma companies are investing in is revolutionary and much broader in scope, while what the pharma companies are investing in is a few tweaks of evolutionary improvement in the CGM tech we know today.

    I think the "your father's Oldsmobile" comment someone made fits well. Taking that further, replacing "father" with "grandfather". I'd bet the people at these non-pharma companies and start ups would view Duncan and his pharma peers as grandfathers too, not even able to use a smart phone except to make a phone call.
     
  20. anonymous

    anonymous Guest

    Heather didn't run away! Miles moved her to another division with serious problems. That is the game of business, If your good, you keep on moving and they are grooming her to take Miles job when he retires. Best that you know your facts!