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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 appointed Christopher DelOrefice as the new chief financial officer (CFO), effective Sept. 6, 2021, following Christopher Reidy's planned retirement. DelOrefice previously held key finance positions at Johnson & Johnson, contributing nearly two decades of experience in healthcare finance. His expertise will aid BD in executing its 2025 growth strategy and boosting shareholder value. DelOrefice's vast background, including roles in Investor Relations, positions him as a strong asset for BD's leadership team.
Becton, Dickinson and Company (NYSE: BDX) announced an amendment to its tender offers for certain Senior Notes due 2024. The maximum principal amount for its 3.734% Senior Notes has been increased from $300 million to $500 million, while the total maximum for all offered notes rises from $715 million to $1.285 billion. Other terms remain unchanged. The tender offers are outlined in the Offer to Purchase, dated August 5, 2021, which investors should carefully review for full details.
Becton, Dickinson and Company (NYSE: BDX) announced tender offers to purchase cash for its outstanding debt securities totaling up to $715 million. The offers include senior notes due in 2022 and 2023, along with specific notes due in 2024, with an emphasis on early tender payments for participants before the August 18 deadline. The tender offers will expire on September 1, 2021, or as extended. The company retains the right to increase tender cap limits and emphasizes the need for interested holders to review the Offer to Purchase for comprehensive details.
BD reported a strong third fiscal quarter, with revenues reaching $4.9 billion, a 26.9% increase year-over-year. COVID-19 testing revenues contributed $300 million, including $212 million from the BD Veritor™ Plus System. The GAAP diluted EPS surged 77.3% to $1.72, while adjusted diluted EPS grew 24.5% to $2.74. BD raised its fiscal 2021 revenue growth and adjusted EPS guidance, projecting revenue growth of 16.5% to 17.0% and adjusted EPS between $12.85 and $12.95.
BD (Becton, Dickinson and Company) announced the retirement of Christopher Reidy, its CFO and CAO, effective after a successor is appointed. Reidy, who joined BD in 2013, will transition to a director role at the upcoming independent Diabetes Care company after its expected spinoff in early 2022. During his tenure, he contributed significantly to BD's key acquisitions and financial functions. His leadership has been pivotal for the company’s momentum, as he expressed confidence in BD’s capacity to drive shareholder value and affect patient lives positively.
BD (Becton, Dickinson and Company) (NYSE: BDX) announced management will present at the UBS Genomics 2.0 and MedTech Innovations Summit on August 11, 2021, at 4:00 p.m. PT. The presentation will be accessible via BD's investor relations website and available for replay for at least seven days post-event. Related materials will be posted before the event starts. BD is a prominent global medical technology company focused on advancing health through innovative technology, supporting healthcare providers, and addressing global health challenges.
BD (Becton, Dickinson and Company) announced a remediation effort for the BD Alaris™ System, addressing issues related to a voluntary recall from February 4, 2020. Software version 12.1.2 will be released at no cost to customers to resolve software errors, including delay options programming and low battery alarm failures. While the remediation aims to enhance operational and cybersecurity aspects, it is important to note that this update has not yet been reviewed by the FDA. The company has also submitted a 510(k) application for regulatory clearance regarding the updates made to the product.
BD (Becton, Dickinson and Company) has declared a quarterly dividend of $0.83 per common share, payable on September 30, 2021, with a record date of September 9, 2021. This sets the annual dividend rate at $3.32 per share, reflecting the company's commitment to delivering value to its shareholders. BD continues to be a leader in the medical technology sector, providing innovative solutions to enhance healthcare delivery globally.
BD (Becton, Dickinson and Company) announced its acquisition of Tepha, Inc., a developer of proprietary resorbable polymer technology, aimed at enhancing BD's surgical mesh portfolio. This acquisition facilitates vertical integration of the supply chain for BD's Phasix™ Mesh products. Tepha's GalaFLEX® products will bolster BD's capabilities in soft tissue repair and regeneration. The deal, expected to have an immaterial impact on BD's fiscal 2021 financial results, underscores the company's commitment to innovation in medical technology and enhancement of surgical solutions.
On July 23, 2021, a federal jury in Dallas found C.R. Bard's IVC blood clot filter defective, adding to a total of over $7 million in awards against the company. This marks the fourth jury ruling against Bard regarding these filters, which are linked to serious medical complications. The Recovery IVC filter caused significant issues when it fractured post-implantation. Lawyers representing affected individuals expressed intentions to continue pursuing cases until Bard acknowledges its responsibility for the product's safety risks.
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