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Becton, Dickinson and Company (BD) (NYSE: BDX) is a global medical technology firm committed to advancing healthcare through the development, manufacture, and sale of a broad range of medical supplies, devices, laboratory equipment, and diagnostic products. Established in 1897, BD's mission is to enhance medical discovery, diagnostics, and care delivery. The company's extensive product portfolio serves healthcare institutions, physicians, life science researchers, and others across the globe.
BD is noted for being the world’s largest manufacturer and distributor of medical surgical products such as needles, syringes, and sharps-disposal units. The company also excels in producing pre-filled devices, diagnostic instruments, and reagents. Furthermore, BD offers sophisticated flow cytometry and cell-imaging systems. BD Medical represents nearly half of the company's total business, while BD Life Sciences and BD Interventional contribute 27% and 24% of the 2023 revenue, respectively. Impressively, international revenue accounts for 43% of the company's business.
Recent achievements and projects underscore BD's commitment to innovation and sustainability. The company recently collaborated with health care institutions in Denmark to explore recycling used blood collection tubes, achieving significant environmental advancements without compromising safety or quality.
In a pivotal development, BD announced the global commercial release of new cell sorters, enabling researchers in fields such as cell biology, cancer research, and immunology to gain new insights. The BD FACSDiscover™ S8 Cell Sorters incorporate groundbreaking technologies like BD CellView™ Image Technology and BD SpectralFX™ Technology, significantly enhancing real-time imaging and spectral flow cytometry.
BD also reported robust financial performance for the second quarter of fiscal 2024, highlighting strong operating margins and cash flow. This success led to an optimistic outlook and an increased earnings guidance, demonstrating the company’s resilience and strategic execution.
Further solidifying its market position, BD is set to acquire Edwards Lifesciences' Critical Care product group for $4.2 billion. This acquisition expands BD’s portfolio in smart connected care solutions, leveraging advanced AI algorithms for better patient outcomes and adding significant value to its operations.
With a presence in almost every country and a workforce of over 70,000 employees, BD remains dedicated to advancing the world of health. The company works closely with customers and partners globally to address complex health challenges, enhance clinical outcomes, and expand access to healthcare.
Becton, Dickinson and Company (NYSE: BDX) announced on August 22, 2022, the pricing for its Tender Offers to purchase up to $500,000,000 in cash of various senior notes and debentures. The offers include securities due between 2027 and 2050, with specified total consideration amounts, including early tender payments. The early tender date was set for August 19, 2022, with an early settlement date on August 23, 2022. The company aims to enhance financial flexibility through these transactions while ensuring specific limits on the amounts purchased for each series.
Becton, Dickinson and Company (NYSE: BDX) reported early tender results for its debt securities tender offers, announcing an increase in the Offer SubCap for the 3.794% Senior Notes due 2050 from $175 million to $190 million. The company is seeking to purchase up to $500 million in various securities, with significant participation noted by the early tender date of August 19, 2022. Notably, all conditions for the tender offers were satisfied, with payment for accepted securities scheduled for August 23, 2022. The offer details are outlined in the Offer to Purchase.
BD (Becton, Dickinson and Company) and Accelerate Diagnostics, Inc. have formed a global commercial collaboration to provide rapid antimicrobial identification and susceptibility diagnostics. This partnership allows BD to market the Accelerate Pheno® system and Arc™ module, which offer quicker results compared to traditional testing methods. The collaboration aims to enhance patient care by optimizing antibiotic use, potentially reducing healthcare costs, and addressing antimicrobial resistance. This initiative is expected to increase market penetration for both companies, improving healthcare outcomes globally.
BD (Becton, Dickinson and Company) has entered into a collaboration with Labcorp to develop flow cytometry-based companion diagnostics (CDx) aimed at improving cancer treatment outcomes. This strategic partnership combines BD's expertise in flow cytometry with Labcorp's strengths in diagnostics and drug development, creating a comprehensive solution for the pharmaceutical industry. The collaboration will facilitate the development and commercialization of CDx, enhancing patient access to personalized therapies.
Becton, Dickinson and Company (NYSE: BDX) has announced tender offers to purchase up to $500 million of its outstanding debt securities. The offers include several series of securities with varying due dates ranging from 2027 to 2050. Holders must tender their securities by 5:00 p.m. on August 19, 2022, to be eligible for early tender payment. The tender offers will expire on September 2, 2022. The total consideration for securities will be determined based on fixed spreads over U.S. Treasury securities. This move aims to manage debt effectively amid changing market conditions.
BD (Becton, Dickinson and Company) has partnered with Direct Relief and the National Association of Community Health Centers (NACHC) to allocate $1.08 million to four community health centers. This funding aims to improve chronic disease management for underserved populations. Each center will receive $270,000 to enhance culturally sensitive care and pharmacist-led education. The initiative, part of the BD Helping Build Healthy Communities program, has supported 52 centers since 2013, totaling $22.6 million in contributions.
BD (Becton, Dickinson and Company) reported revenue of $4.6 billion for Q3 2022, a 0.7% increase year-over-year. Base revenue growth was 6.0%, with a notable decline in COVID-only testing revenues to $76 million from $300 million previously. GAAP diluted EPS was $1.28, while adjusted EPS rose 16.7% to $2.66. The company raised its full-year revenue guidance to approximately $18.75-$18.83 billion, reflecting 8.75%-9.25% growth, and adjusted EPS guidance to $11.28-$11.35. BD's ongoing acquisitions and innovations support its growth strategy amid macroeconomic challenges.
BD (Becton, Dickinson and Company) has acquired MedKeeper, a provider of cloud-based pharmacy management applications, enhancing its commitment to Smart, Connected Care. This strategic acquisition aims to optimize IV workflow by integrating MedKeeper's solutions into BD's existing medication management offerings. The move addresses the growing need for customizable pharmacy software in light of COVID-related challenges. The transaction is expected to have an immaterial impact on BD's fiscal 2022 financial results.
BD (Becton, Dickinson and Company) has launched a new molecular PCR test for the monkeypox virus, now available for research use outside the U.S. This test leverages the BD MAX™ System, providing fast and efficient results for laboratories. The BD MAX™ platform can process up to 24 samples in under three hours. This initiative, developed in partnership with CerTest Biotec, aims to enhance research capabilities amidst a global health emergency declared by the World Health Organization. This test is critical for understanding and controlling the spread of monkeypox.
The Board of Directors of BD (Becton, Dickinson and Company) has declared a quarterly dividend of $0.87 per common share, payable on September 30, 2022, to shareholders on record as of September 9, 2022. This results in an annual dividend rate of $3.48 per share, reflecting the company's commitment to returning value to its shareholders. BD continues to advance global health through innovative medical technology, ensuring safety and efficiency in healthcare delivery.
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