Abbott has unveiled a new state-of-the-art manufacturing facility in Kilkenny, Ireland, to meet the increasing global demand for its FreeStyle Libre continuous glucose monitoring (CGM) systems. The new site, spanning 323,000 square feet, is set to become the largest production hub for FreeStyle Libre sensors worldwide. The expansion aims to support more than 6 million people across 60 countries who rely on Abbott’s technology to manage their diabetes.
The Kilkenny facility, which will employ over 800 people, marks another significant milestone in Abbott’s nearly 80-year history in Ireland. The company is one of the country’s largest employers and continues to invest in advancing diabetes care solutions. During the launch event, Abbott’s Chairman and CEO, Robert Ford, highlighted the company’s commitment to improving the lives of people with diabetes.
“This new Kilkenny facility represents our ongoing investment in innovative care and in providing people with diabetes the tools they need to lead healthier lives,” Ford said. “With this expansion, we are positioned to meet the growing global demand for our FreeStyle Libre sensors, ensuring we continue to lead in this vital area of diabetes care.”
Abbott’s FreeStyle Libre portfolio has become a leading solution in continuous glucose monitoring. Ford previously outlined the company’s optimistic outlook for the CGM market during an earnings call in October, describing it as a “mass market opportunity” as only about 10 million of the 500 million people living with diabetes worldwide currently use CGM systems. With projections for FreeStyle Libre sales to exceed $6 billion by year-end, Abbott is confident in its continued growth. Ford also emphasized that the company is on track to add $1 billion in revenue this year and gain an additional 1 million users.
Diabetes Care remains one of Abbott’s top growth drivers, with the Diabetes Care division reporting 19% organic sales growth for the first three quarters of 2024. Year-to-date revenue for the division has reached $4.9 billion, and Abbott is targeting $10 billion in annual sales for FreeStyle Libre by 2028.
Abbott’s expanded manufacturing capacity in Kilkenny is poised to play a crucial role in meeting the global demand for advanced diabetes management solutions, positioning the company for continued success in the rapidly growing CGM market.
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