More than 3.6 million Australians have diabetes or pre-diabetes, and Universal Biosensors – a company we invest in – is helping millions worldwide to manage their diabetes with technology for self monitoring of blood glucose levels.
UBI’s One Touch Verio glucose test is an easy-to-use handheld reader with disposable test strips, ideal for self-management of diabetes.
The technology enables instant readings of blood glucose levels with a tiny finger prick of blood and the results are unaffected by the presence of other sugars such as maltose and galactose. It is sold in major world markets by LifeScan, a Johnson and Johnson owned company, who sell 4-5 billion glucose test trips per annum.
As well as the benefit to people who suffer from diabetes, Australian Ethical Equity Analyst, Tim Case, believes UBI is a smart financial investment: “Their key competitive advantage is the accuracy of the diagnostic tests they develop.”
“This accuracy is largely due to their understanding of electrical interference as their strips analyse a sample. Previously this interference wasn’t well understood, meaning self-monitoring test devices weren’t as accurate as results from a laboratory.”
What are the company’s prospects for future growth?
“We think UBI is close to entering a period of strong earnings growth as sales of their blood glucose test strips to Johnson and Johnson ramp up,” Case said.
“We also anticipate growth from a range of blood coagulation test strips UBI has developed for Siemens, with the first test to launch later this year.”
UBI recently won the Technology in Manufacturing Award at the Victorian Manufacturing Hall of Fame in June. The company was recognised for embracing and enabling emerging technologies within their Victorian manufacturing operations.
For the 1.16 million Australians officially diagnosed, managing diabetes takes time, energy, commitment and requires information.
This National Diabetes Week (14 – 20 July) may be time to better understand how to live with diabetes, by making healthy food choices, leading an active lifestyle, and monitoring blood glucose levels to improve diabetes control.
The Australian Diabetes Council says it has planned a big week, themed ‘The Ages and Stages with Diabetes’, focusing on how to manage diabetes and make life easier for those affected.