Abbott and Medtronic Announce Global Partnership in Diabetes Care, Shares Rise 1.7%

Gelonghui August 7 | Medical device manufacturers Abbott and Medtronic both rose approximately 1.7%. In terms of news, Abbott and Medtronic have established a global partnership to integrate Abbott's continuous glucose monitoring (CGM) sensors with Medtronic’s insulin delivery systems. The integration will enable automatic adjustment of insulin, keeping blood sugar levels within a certain range. The financial terms and timing of the deal were not disclosed. RBC Capital analyst Shagun Singh believes that this deal is beneficial for both companies and strengthens their positions in the diabetes care market.