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  "documentTitle": "Dexcom, Inc. (DXCM)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "presentationDate": "2019-03-21 00:00:00",
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  "notes": "The slide uses management's own words to frame their capacity expansion as a competitive threat to peers (specifically Dexcom).",
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      "text": "We believe that this will only extend Abbott’s cost advantage and create further downside risk in CGM pricing.",
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      "text": "Quotes from Abbott management regarding cost leadership, automation, and capacity expansion.",
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      "kind": "paragraph",
      "text": "Through recent earnings calls and investor conferences, Abbott has emphasized that it is in the process of expanding capacity for Libre production ahead of the U.S. rollout. We believe that this will only extend Abbott's cost advantage and create further downside risk in CGM pricing.",
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      "kind": "quote",
      "text": "“We have probably number-one cost position, number-one volume of patients position. I think we can pretty easily declare ourselves the leader in continuous glucose monitoring and growing faster than everybody else.” — Abbott Conference",
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      "kind": "source-note",
      "text": "Sources: Abbott Conferences (4Q17 CC (1/24/18), 1Q18 CC (4/18/18), 2Q18 CC (7/18/18), 3Q18 CC (10/17/18), JPM HC (1/8/19), 4Q18 CC (1/23/19)",
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      "kind": "title",
      "text": "Abbott's Expanding CGM Production Capacity Will Only Magnify Its Scale Advantage",
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