Yes and no. They beat us to "a step closer to a closed loop system" because the STS is not paired with a pump. This medtronic device is a packaged system only and not a direct competitor to the STS. You have to use their pump and it is not an independent system (i.e. hospital use) nor is it a closed loop (automatic pancreas) that can just be put on autopilot. Just reminds us to take our horse blinders off because their are other companies trying to do the same thing.
To be honest this is good news to us because companies like animas can not compete and now have to either do the research to catch up or buy it (hint hint). I'm now on board with the idea of consistant trading at 23 about a month out from now.
Actually it is good news for dxcm. First,it is a validation wfor the direction DXCM is going. Second, competitors like J&J, which has the pump product, must scamble to buy dxcm to compete. J&J has huge pile of cash and is looking to expand rapidly in the device area since there is no forseeble pharmacutical in the near future.
That's probably why dxcm has gone up fow two days.