RAMQ Expands Provincial Coverage to Include Dexcom G7, Bringing the Next-Generation CGM System to More Québec Residents

Rhea-AI Summary

Dexcom, Inc. (NASDAQ: DXCM) announced that its Dexcom G7 Continuous Glucose Monitoring (CGM) System will be added to the Régie de l'assurance maladie du Québec (RAMQ) Public Prescription Drug Insurance Plan. This expansion brings coverage to Québec residents ages two and older living with type 1 diabetes who meet eligibility criteria. Launched in Canada in 2023, Dexcom G7 is described as the most accurate CGM system available, clinically proven to lower A1C and increase time in range. The system allows users to easily monitor glucose levels and make informed decisions about insulin, food, and activity without routine fingersticks or scanning. This coverage expansion follows similar announcements in other Canadian provinces, making advanced diabetes management technology more accessible and reducing out-of-pocket costs for eligible individuals.

Positive

• Expansion of provincial coverage for Dexcom G7 in Québec, potentially increasing the customer base
• Dexcom G7 described as the most accurate CGM system available in Canada
• Clinical proof of Dexcom G7's effectiveness in lowering A1C and increasing time in range
• Increasing accessibility of Dexcom products across Canadian provinces

Negative

• None.

Insights

Medical Research Analyst

The expansion of RAMQ coverage to include Dexcom G7 is a significant development for diabetes management in Québec. This next-generation CGM system offers cost savings for eligible patients with type 1 diabetes, potentially improving accessibility to advanced glucose monitoring technology. The system's accuracy and real-time monitoring capabilities could lead to better glucose control and reduced complications, ultimately decreasing healthcare costs in the long term. However, it's important to note that the coverage is currently to type 1 diabetes patients, which may impact Dexcom's potential market size in the province.

Financial Analyst

This coverage expansion in Québec represents a positive development for Dexcom (NASDAQ: DXCM). It opens up a new market segment, potentially driving revenue growth in Canada. The inclusion in RAMQ's coverage follows similar decisions in other provinces, indicating a growing trend of public insurance support for Dexcom's products. This could lead to increased adoption rates and market penetration. However, investors should consider that the impact on overall financials may be gradual, as it depends on the number of eligible patients and the rate of adoption. The expansion of coverage to type 2 diabetes patients in the future could present additional growth opportunities.

Market Research Analyst

This development strengthens Dexcom's market position in Canada. The expansion of provincial coverage across multiple regions suggests a growing acceptance of CGM technology among healthcare payers. This trend could potentially influence other provinces and private insurers to follow suit. The positive user testimonial highlights the product's value proposition, which could drive word-of-mouth marketing. However, competition in the CGM market remains intense, with other players like Abbott and Medtronic also vying for market share. Dexcom's claim of being the "most accurate CGM system available" could be a key differentiator, but ongoing innovation will be important to maintain this advantage.

Québec becomes the latest province to offer public coverage for Dexcom G7, helping those living with type 1 diabetes access an innovative and effective management solution

BURNABY, British Columbia--(BUSINESS WIRE)-- Dexcom, Inc. (NASDAQ: DXCM), a global leader in real-time continuous glucose monitoring (rtCGM) for people with diabetes, announced today that its latest innovation, the Dexcom G7 Continuous Glucose Monitoring (CGM) System, will be added to the Régie de l'assurance maladie du Québec (RAMQ) Public Prescription Drug Insurance Plan. Québec residents living with type 1 diabetes who meet the eligibility criteria will now be able to receive coverage for Dexcom G7.*

Québec residents ages two and older living with type 1 diabetes may now be eligible to receive coverage for Dexcom G7. (Photo: Business Wire)

“Today’s announcement from RAMQ showcases its commitment to improving the lives of those living with type 1 diabetes across the province. We are thrilled that more Québec residents will be able to experience the Dexcom difference,” said André Côté, Vice President and General Manager of Dexcom Canada.

Launched in Canada in 2023, Dexcom G7 is the most accurate CGM system available, ^†,1 clinically proven to lower A1C and increase time in range.^2-6 Designed to take the guesswork out of day-to-day diabetes management, Dexcom G7 allows the user to easily see their glucose levels and where they’re headed, so they can make informed decisions about insulin, food and activity in the moment, with no routine fingersticks^ǂ or scanning required.

“It is critical that we continue to provide access to the most advanced continuous glucose monitoring technology to support patients managing diabetes, and ultimately improve their health outcomes and quality of life,” says Dr. Remi Rabasa-Lhoret, Director, Metabolic Diseases Research Unit, Institut de Recherches Cliniques de Montréal. “CGM technology is a game changer. It can simplify diabetes management, giving people who live with diabetes an incredible tool to improve a condition that changes every day.”

Now through RAMQ, thousands of eligible Québec residents living with type 1 diabetes will have access to the latest technology in continuous glucose monitoring systems, helping to reduce the burden of out-of-pocket costs for essential diabetes tools and make modern management solutions more accessible. The majority of Quebec’s top private insurers already cover Dexcom G7 for individuals with type 1 diabetes or type 2 diabetes on insulin.^§,7

“As a Dexcom CGM user, this announcement means that I can more feasibly access the technology that has changed how I manage my type 1 diabetes for the better,” says Serge Turcotte, a Québec resident who has lived with type 1 diabetes for 8 years. “For someone as active as I am, I must say that using Dexcom G7 has been a game-changer in how I deal with diabetes and can still be me. Being able to see my glucose levels in real-time and knowing I can be alerted before a dangerous low gives me so much more peace of mind. I am so grateful that such technology exists now.”

Today’s news is the latest in a series of provincial announcements regarding coverage for Dexcom CGM systems. New Brunswick, Newfoundland and Labrador, British Columbia, Saskatchewan, Manitoba, Prince Edward Island, Northwest Territories, Yukon and Nova Scotia have recently adapted their respective provincial health programs to include or expand coverage for Dexcom G7.

To learn more about Dexcom G7 and the RAMQ coverage eligibility criteria, along with private insurance plans that cover Dexcom G7, visit dexcom.com.

About Dexcom, Inc.

Dexcom, Inc. empowers people to take control of health through innovative continuous glucose monitoring (CGM) systems. Headquartered in San Diego, Calif., and with operations across Canada, Dexcom has emerged as a leader of diabetes care technology. By listening to the needs of users, caregivers, and providers, Dexcom works to simplify and improve diabetes management around the world. For more information about Dexcom CGM, visit www.dexcom.com.

_______________________________________
¹ Dexcom, data on file, 2023.
² Beck RW, et al. JAMA. 2017;317(4):371-378.
³ Beck RW, et al. Ann Intern Med. 2017;167(6):365-374.
⁴ Martens T, et al. JAMA. 2021;325(22):2262-2272.
⁵ Laffel LM, et al. JAMA. 2020;323(23):2388-2396.
⁶ Welsh JB, et al. J Diabetes Sci Technol. 2024;18(1):143-7.
⁷ Dexcom, data on file, 2024.

^{* Individuals who do not have a compatible smart device are eligible for a free G7 Receiver and should contact Dexcom Customer Service at 1-844-832-1810.
† When compared with CGM systems commercially available in Canada as of July 2024.
ǂ Fingersticks required for diabetes treatment decisions if symptoms or expectations do not match readings.
§ Eligibility and coverage vary by policy, plan, and payor. For details, visit www.dexcom.com/en-CA/coverage.}

View source version on businesswire.com: https://www.businesswire.com/news/home/20240814728352/en/

Media:

Eva Tordjmann, 438.448.1522

Veritas Communications

tordjmann@luxineveritas.com

Source: Dexcom, Inc.

FAQ

What is the new coverage for Dexcom G7 in Québec?

The Dexcom G7 Continuous Glucose Monitoring System will be added to the RAMQ Public Prescription Drug Insurance Plan, providing coverage for eligible Québec residents ages two and older living with type 1 diabetes.

How does the Dexcom G7 CGM system (DXCM) benefit users?

Dexcom G7 allows users to easily monitor glucose levels and make informed decisions about insulin, food, and activity without routine fingersticks or scanning. It's clinically proven to lower A1C and increase time in range.

Which other Canadian provinces have expanded coverage for Dexcom G7 (DXCM)?

New Brunswick, Newfoundland and Labrador, British Columbia, Saskatchewan, Manitoba, Prince Edward Island, Northwest Territories, Yukon, and Nova Scotia have recently adapted their provincial health programs to include or expand coverage for Dexcom G7.

When was the Dexcom G7 CGM system launched in Canada?

The Dexcom G7 Continuous Glucose Monitoring System was launched in Canada in 2023.