Josh Jennings: Hi, thanks for taking the questions. I know you have a lot in front of you with type 2 basal and the cash pay product being launched next year. But you did mention that you’re pursuing reimbursement, Kevin, for type two, and non-insulin using patients. I was just hoping to better understand the roadmap that the clinical development program and should the investors would be thinking two to three years for that potential reimbursement to come in or it’s three to five years? And then just on top of that, just what’s giving you optimism that you can show a clinically meaningful and statistically reduction. If anyone seeing that type two non-insulin using population, I think you had some registry data and I know you had some registry data at ADA this year. But any other signals and drivers of your confidence. Thanks.
Kevin Sayer: Like, we have done numerous studies and every time we introduce CGM to this population, we see lower A1C, higher time and range and all the other vital signs of these patients get better. And so, we’re confident that we have a positive impact. I’ll add a couple of other things that we’ve heard in my own travels and travels with the group. One of the things everybody is concerned about is adherence to meds. With CGM, we can – patients can see what happens when they adhere to their meds. And when they taken it whichever type two therapy they’re on, they can see what happens if they take their metformin every morning or their SGLT two pill or even the effect of their GLP-1 injection every week, they can see what happens and that adherence the drugs leads to better, health on overall basis.
And let’s be clear. It’s not like diabetes growth to slow down anywhere. Diabetes still continues to grow rapidly in the constant diabetes care, as great as all of our technologies have been continues to increase. So, if we can be a cog in that wheel to whereby we add an element of cost, it’s not that significant when you look at the grand scheme of things, but can reduce many other costs and could reduce complications as they spend on other things and possibly slow down the train on some of the meds people have to move to. We think we have a great role to play here. And that’s how we look at it. I don’t think it’s going to take five years. I think this is more of two to three year journey, but you know what, that’s the gospel according to me.
I don’t have anything else to base that on, but you’ll see data continue to pile up in this segment particularly as we launch a cash pay product to start and then get some basic reimbursement from that from others for making our case. Obviously, building a case with CMS like we did for mobile on basal that was data produced by Dexcom. We’re pretty good at that. So we’ll keep pushing.
Josh Jennings: Great. Thanks so much.
Operator: Our next question comes from Matt Miksic was Barclays. Please go ahead.
Matt Miksic: Hey, good afternoon and congrats on the quarter and appreciate all the all the color today on the call. If I could follow up on a comment you made Kevin earlier about the number of new prescribers posts driven by the G7 launch and get some color if you could share it around, is that, that sort of getting further into the sort of simple, simplicity – simple user segment of the market? Is it linked to any way to the basal coverage? What you’re assessment of what’s been driving that? And, other than G7, just being great. But and then also, maybe the implications for share trends in the US if that continues? Thanks.
Jereme Sylvain: Yeah, hey, Matt this is Jereme. I can take this. And by the way, it’s all intentional, right? We have a commercial team that’s done an incredible job of identifying areas to go and doctors to really certainly focus on where we can come in with the products demonstrate obviously it’s the most accurate, certainly, it’s easy to use. And with the coverage we have, I think it really demonstrates to the physicians and their prescribing patterns. Look, we can we have the lowest out of pockets for these patients and we can ultimately keep them on therapy and adherence for a much longer period. So, I think that in addition to obviously G7 and all the features it has inherent and it has allowed these physicians to make the change.
But it’s so wonderful product, wonderful coverage and absolutely intentionality by the sales team. I mean just it’s a great job by those – that team identifying who those targets are going out there and addressing it. So, it’s no coincidence and that 18,000 incremental prescribers, a significant amount in the PCP space and a lot of folks are switching. These PCPs are switching from who they prescribe today and moving over to Dexcom. So we’re really proud of it and obviously it was a 1,000 in the first quarter, 8,000 in the second quarter and another 9,000 this quarter. So it is the message is getting out and its meaningful.
Matt Miksic: That’s great. Thank you for the color.
Operator: Our next question comes from Mike Kratky with Leerink Partners. Please go ahead.
Mike Kratky: Yeah, hi everyone. Thanks for taking our question, Just going back to basal only, what’s the latest basal only commercial coverage you have in place? And how are you thinking about what the cadence and what’s needed to bridge that gap to get more full coverage?
Terry Lauver: This is Terry. Happy to take that one. We track coverage very closely for Dexcom and for the industry and Dexcom is the most covered CGM with the lowest out of socket copay. That is true for the overall population in US commercial lives and it’s also true for the basal population. That I would say, keep in mind that we were out with the mobile study in front of the payers, even before the CMS decision came through. So we continue to look into lead in the coverage for this population.
Jereme Sylvain: Yeah, and then, your question was as how much – what more do we need to go. The answer is, it’s not more. A lot of commercial payers were already really covering this. Now Terry referenced we have the most wide covered – coverage on basal. It’s really now just – it’s time. It takes time to get in front of payers, Medicaid payers, government payers. And so, it’s, it’s just canvassing, and by the way, this is not something that we didn’t face with type 1, it’s not something we didn’t face with type 2 intensive. And so just give us time, but a majority of people walking around with using basal insulin now have access to CGM technology. It’s a wonderful thing to the population.
Mike Kratky: Understood. Thanks very much.
Operator: This concludes our question and answer session for today. I will now turn to call over to Mr. Kevin Sayer for closing remarks.
Kevin Sayer: Thank you. This was truly a banner quarter for us. This was our first quarter with over $200 million in year-over-year quarterly growth. And the second consecutive quarter of record financial performance and market share gains on all fronts. Our G7 launch remains in its early stages. There is tremendous amount of minimum left in this launch with our plan upgrades to the system and also, our upcoming AID integrations. In addition to continuing to perform in these traditional metrics, our company’s growth is a world-class organization on a number of fronts continues to be recognized. Dexcom is recognized by Forbes as one of the top five organizations to work for in the State of California. By the way, three of the top five universities, so we’re one of two companies in that group.
We’re recognized by News Week as one of the 300 top green organizations acknowledging our great work our teams to advance our sustainability initiatives and we are considering this very thoroughly in all of our product development efforts going forward. Finally, we’ve been recognized by FAST Technologies as one of the brands that matters. Great honors for our company. I want to thank everybody here at Dexcom who makes these great things happen and thank everybody for your continued support. Thank you.
Operator: Thank you, ladies and gentlemen. This concludes today’s conference. You may now disconnect Thank you. Next calm. Third quarter twenty conference. You may now disconnect
