Abbott's FreeStyle Libre Flash Glucose Monitoring System allows patients to measure their blood glucose levels without fingerpricks or test strips. The system consists of a small sensor that is worn on the back of the arm for as long as 14 days and a reader.

The sensor has what the company describes as a "small filament" that is inserted into the arm and measures blood glucose levels in the interstitial fluid. A reader is passed over the sensor to give the patient a real-time glucose reading in less than a second. 

The Libre Flash received CE Mark in September 2014 and on a recent earnings call, executives described it as "a real winner of a product," noting that the company does not yet have enough capacity to keep up with demand.

Abbott has filed a regulatory submission with FDA for approval of a professional version, Libre Pro, for use in the United States.