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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) reported Q3 revenue of $3.855 billion, an 11.4% decrease year-over-year. Diluted EPS fell 35.8% to $0.97. Key segments showed mixed results: BD Medical revenue decreased 8.2%, BD Life Sciences dropped 10.1%, while BD Interventional saw a 20.3% decline. Despite challenges, BD noted strong demand for COVID-19 products and positive trends in healthcare procedures. Full-year revenue outlook is a 2.5% to 3.0% decrease, with adjusted EPS guidance between $9.80 and $10.00, reflecting a substantial decline from last year's figures.
BD (Becton, Dickinson and Company) announced a $24 million investment from the U.S. Department of Defense and Health and Human Services to enhance U.S. manufacturing of the BD Veritor™ Solution for SARS-CoV-2. This investment aims to boost production capacity by 50%, enabling the company to produce over 12 million test kits monthly by February 2021. The BD Veritor™ Plus assay's performance includes 84% sensitivity and 100% specificity, making it a critical tool for rapid COVID-19 diagnosis.
BD (Becton, Dickinson and Company) (NYSE: BDX) announced FDA approval for a pre-market approval supplement for its BD Onclarity™ HPV Assay. The approval expands genotype reporting capabilities to include types 31, 51, 52, 33/58, 35/39/68, and 56/59/66. This makes the assay the only FDA-approved tool to identify and report these genotypes individually, enhancing cervical cancer screening and risk assessment. The extended genotyping is vital for improved patient management, potentially reducing unnecessary treatments by offering precise risk stratification based on HPV types.
BD (Becton, Dickinson and Company) announced an additional order for 177 million injection devices from the U.S. and Canada to support COVID-19 vaccination efforts. This includes 140 million devices for the U.S., totaling 190 million to date, and 37 million for Canada, bringing total Canadian orders to 75 million. BD is set to deliver these devices by December 2020. The company is also investing $70 million to expand production capabilities in Nebraska, ensuring fulfillment of existing orders without disruption.
BD (Becton, Dickinson and Company) has secured a commitment from the U.S. Department of Health and Human Services to purchase 2,000 BD Veritor™ Plus Systems and 750,000 SARS-CoV-2 antigen test kits aimed at expanding access to rapid COVID-19 testing. Distribution is set to commence shortly. The BD Veritor™ Plus System provides rapid detection with a reported 84% sensitivity and 100% specificity. BD anticipates ramping up test production to 2 million tests weekly by September, facilitating real-time data reporting for health officials.
On July 8, 2020, BD (NYSE: BDX) announced a strategic partnership with the Biomedical Advanced Research and Development Authority (BARDA) to enhance manufacturing capabilities for injection devices. This collaboration involves a $70 million capital project, with BARDA investing $42 million. The new manufacturing lines will provide priority access to hundreds of millions of syringes and needles for pandemic vaccination efforts. BD has also secured an initial order for 50 million syringes and needles to support COVID-19 vaccination by December 2020, ensuring existing customer needs continue to be met.
BD (Becton, Dickinson and Company) announced the launch of BD PurPrep™, the first fully sterile povidone-iodine and isopropyl alcohol skin preparation available in the United States. This single-use antiseptic product (0.83% available iodine and 72.5% isopropyl alcohol) enhances patient safety by reducing risks associated with health care-associated infections. BD PurPrep™ is designed to replace Prevail™ and Prevail FX™, and utilizes a proprietary sterilization process ensuring a minimum sterility assurance level of 10-6. The product serves as an alternative for patients sensitive to chlorhexidine gluconate.
BD (Becton, Dickinson and Company) announced that the FDA granted Emergency Use Authorization (EUA) for its rapid SARS-CoV-2 diagnostic test using the BD Veritor™ Plus System. This test provides results in just 15 minutes, enhancing COVID-19 diagnostic access at various healthcare settings. BD plans to produce up to 2 million tests weekly by September 2020. The Veritor™ Plus System is already operational in over 25,000 locations across the U.S. The company has also delivered millions of COVID-19 related products and intends to pursue further regulatory clearances.
BD (Becton, Dickinson and Company) will host a live webcast for its third fiscal quarter 2020 earnings conference call on August 6, 2020, at 8:00 a.m. ET. A press release containing details on the quarter's earnings will be issued earlier that morning. The webcast and accompanying slides will be available on BD's investor website, with a replay option until August 13, 2020.
As a leading global medical technology company, BD focuses on enhancing health care through innovative solutions and partnerships worldwide.
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