FDA Says Do Not Use Smartwatches Or Smart Rings To Measure Blood Glucose Levels; FDA Has Not Authorized, Cleared, Or Approved Any Smartwatch Or Smart Ring That Is Intended To Measure Or Estimate Blood Glucose Values On Its Own
Portfolio Pulse from Benzinga Newsdesk
The FDA has issued a warning against using smartwatches or smart rings for measuring blood glucose levels, stating that no such device has been authorized, cleared, or approved for this purpose.
February 21, 2024 | 8:20 pm
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The FDA's warning may indirectly affect companies within the SPY ETF that are involved in the production or development of smartwatches and smart rings intended for health monitoring.
While the FDA's warning does not directly target any specific company, it casts a shadow over the health technology sector, particularly those companies that are exploring or have invested in the development of non-invasive glucose monitoring technologies. This could lead to negative investor sentiment towards these companies, potentially affecting their stock prices in the short term. The SPY ETF, which includes a broad range of companies, including those in the health technology sector, might see a slight negative impact due to this announcement.
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