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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.
BD (Becton, Dickinson and Company) has completed the acquisition of Edwards Lifesciences' Critical Care product group, now renamed as BD Advanced Patient Monitoring. This acquisition expands BD's portfolio of smart connected care solutions with leading monitoring technologies and AI-enabled clinical decision tools. The combination of BD's new advanced monitoring and existing infusion platforms enables future innovation opportunities for closed-loop monitoring and treatment.
Key points:
- BD Advanced Patient Monitoring will be based in Irvine, California
- It becomes part of BD's Medical segment
- Katie Szyman will continue as worldwide president
- The acquisition is expected to have an immaterial impact on BD's fiscal year 2024 guidance
BD (Becton, Dickinson and Company) celebrated the 75th anniversary of its manufacturing operations in Columbus, Nebraska. The event highlighted the importance of domestic production for critical medical devices. The Columbus facility, which started in 1949 with 15 employees, now employs 2,100 associates across three locations and one million square feet.
Key points:
- BD Columbus is one of only two remaining large-scale syringe manufacturing sites in the U.S.
- The facility has boosted domestic syringe production by 50% in the first nine months of 2024
- BD has invested $200 million in capital over the last four years in Columbus
- The company recognized long-tenured associates, including two with over 47 years of service
The celebration emphasized BD's commitment to U.S. manufacturing and its role in strengthening the medical supply chain's resilience.
BD (NYSE: BDX) has appointed Michael Feld as the new executive vice president and president of its Life Sciences segment, effective Aug. 20, 2024. Feld, who will join the Executive Leadership Team, succeeds Dave Hickey, who retired last month after a decade with the company. Feld comes from Veralto, a Danaher spin-off, where he was president of Hach. His experience includes senior roles at Danaher, focusing on strategic planning, quality, and cultural progression.
As president of BD Life Sciences, Feld will oversee Biosciences, Diagnostics Solutions, and Specimen Management. The segment aims to deliver innovative advancements from discovery to diagnosis, focusing on smart, connected workflows and diagnostics in new care settings to improve chronic condition management.
BD (Becton, Dickinson and Company), a leading global medical technology company, has announced its participation in the Wells Fargo 2024 Healthcare Conference. The presentation is scheduled for Wednesday, September 4, 2024, at 8:45 am Eastern Time.
Investors and interested parties can access the live webcast of BD's presentation through the company's investor relations website at investors.bd.com. For those unable to attend the live event, a replay will be made available on the same webpage after the presentation concludes.
This conference provides BD with an opportunity to showcase its latest developments and strategies to investors and industry professionals. The company's participation underscores its commitment to transparency and engagement with the financial community.
BD (NYSE: BDX) reported strong Q3 fiscal 2024 results, with revenue of $5.0 billion as reported and adjusted revenue of $5.1 billion. The company demonstrated robust margin execution, with GAAP and adjusted diluted EPS growing 23.5% and 18.2% to $1.68 and $3.50, respectively. Year-to-date cash from continuing operations surged 60% to $2.7 billion, while free cash flow more than doubled to $2.2 billion.
BD updated its fiscal 2024 guidance, projecting GAAP revenue growth of approximately 3.7% and organic revenue growth of 5.0% to 5.25%. The company also increased its adjusted diluted EPS guidance by 5 cents at the midpoint to a range of $13.05 to $13.15. CEO Tom Polen highlighted the company's transformation into an innovative MedTech leader, driven by the BD Excellence operating system.
BD (NYSE: BDX) and Quest Diagnostics (NYSE: DGX) have announced a global collaboration agreement to develop, manufacture, and commercialize flow cytometry-based companion diagnostics (CDx) for cancer and other diseases. This partnership aims to provide the pharmaceutical industry with an end-to-end solution for CDx development, ranging from exploratory panel development to FDA-approved diagnostic kit distribution.
The collaboration leverages BD's expertise in flow cytometry and Quest's proficiency in biomarker and assay development. Flow cytometry, an established laboratory technology, can rapidly analyze individual cells, potentially improving patient management and clinical outcomes. This initiative is expected to advance personalized medicine and potentially reduce healthcare costs by enabling more precise treatment selection.
BD (Becton, Dickinson and Company), a leading global medical technology company, has announced a quarterly dividend declaration by its Board of Directors. The dividend, set at $0.95 per common share, will be payable on September 30, 2024 to shareholders of record as of September 9, 2024. This dividend announcement indicates an annual dividend rate of $3.80 per share. The declaration demonstrates BD's commitment to providing regular returns to its shareholders, potentially reflecting the company's financial stability and confidence in its future performance.
BD (Becton, Dickinson and Company) announced a reduced availability of its BD BACTEC™ blood culture vials due to supplier issues. Addressing the supply shortfall, BD is implementing measures such as providing manufacturing expertise to the supplier, utilizing air shipments, adjusting production schedules, and collaborating with the FDA. To bridge the gap, BD is also engaging a former supplier to restart production of glass vials. Despite these challenges, BD assures it can meet most global demand and advises customers to prioritize vial usage based on clinical needs. The company expects no material financial impact from this issue.
BD (Becton, Dickinson and Company) announced it surpassed its FY 2023 Scope 1 and 2 greenhouse gas (GHG) emissions reduction targets by 5 percentage points. The company reported an 18% reduction in these emissions from a FY 2019 baseline, exceeding its target of 13%.
BD also gained approval for its near- and long-term emissions reduction plans from the Science Based Target initiative (SBTi), aligning its efforts with global climate goals. Additionally, the company has doubled the number of sites using Green Electric Power and on-site renewables since FY 2019. BD aims to achieve net zero GHG emissions across its value chain by FY 2050.
BD's sustainability initiatives and progress, including a commitment to reduce Scope 1 and 2 GHG emissions by 50% by 2030, are highlighted in their Fiscal Year 2023 Corporate Sustainability Report.
BD (Becton, Dickinson and Company) will announce its financial results for the third quarter of fiscal year 2024 on August 1, 2024. The report will be released at 6:30 a.m. Eastern Time (ET) and will be available on the company's investor relations website. The announcement will include summary financial information for the quarter ending June 30, 2024. Following the release, BD management will host an audio webcast at 8 a.m. ET to discuss the results, operations, and strategy updates. A replay of the webcast will be accessible on the same website shortly after the call.
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