becton dickinson Archives - Medical Design Sourcing

BD pay increases for CEO Tom Polen and the median employee

A new Becton, Dickinson & Co. (BD) pay disclosure included gains for CEO Tom Polen and other executives, as well as an increase in pay for the device manufacturer’s median worker.

The BD pay disclosure — part of the company’s Securities and Exchange Commission filing ahead of its annual shareholder meeting — also included an update on BD’s new executive severance limits. After failing to defeat a shareholder proposal calling for a cap on executive severance payouts, the board adopted a more limited policy that only applied to cash payouts.

“We received positive feedback on this approach from the shareholders to whom we spoke during our 2023 engagement,” the company said. “Shareholders expressed their belief that this was a reasonable approach for BD to take in response to the proposal, and no investor we engaged with requested the inclusion of accelerated equity vesting in the calculation of the termination pay limit.R…

BD limits executive severance after ‘golden parachute’ shareholder proposal overcomes board opposition

Becton, Dickinson and Co. (BD) will now need stockholder permission for cash severance payouts to executives above a newly set limit.

It’s the latest example of how executive compensation is being scrutinized in the medtech industry, where the world’s largest device manufacturers have collectively reduced headcount even as revenue hits record highs.

BD’s medical and interventional segments make it the world’s 11th-largest device company, according to Medical Design & Outsourcing‘s 2023 Medtech Big 100 ranking.

The new executive severance policy took effect on Nov. 21, 2023, BD said in a filing with the Securities and Exchange Commission.

The board adopted the policy after a BD shareholder proposed more extensive limits at the company’s January 2023 annual meeting. Despite opposition from the board, the proposal won nearly 62% of votes cast (excluding absentions and broker non-votes).

The shareholder p…

BD hires new chief medical officer from 3M Health Care

Dr. Ron Silverman is the next chief medical officer of Becton, Dickinson & Co. [Photo courtesy of BD]Becton, Dickinson & Co. (NYSE: BDX) + today named Dr. Ronald “Ron” Silverman as EVP and chief medical officer.

He replaces BD Chief Medical Officer Dr. William Sigmund, who announced plans to retire from BD earlier this year. The change takes effect Dec. 4, 2023.

Silverman comes from 3M Health Care, where he served as SVP and chief medical officer since 2021. He will lead BD’s medical affairs organization across BD’s business units, regions and central team.

Franklin Lakes, New Jersey-based BD said Silverman “will use medical insights and expertise to advance BD’s pipeline of clinically relevant, innovative solutions that align with evolving patient needs, while also contributing to the safety and compliance of BD’s in-market portfolio of products.”

Silv…

New ethylene oxide rules could trigger sterilization consolidation — and new options

Firefighters training on a simulated ethylene oxide leak [Photo via Adobe Stock]

The largest commercial sterilizers will likely absorb the costs of new ethylene oxide (EtO) regulations — and could consolidate smaller competitors, according to a new analysis from Moody’s Investors Services.

Tighter controls on EtO emissions would increase capital spending and operating costs for all commercial sterilizers who use the toxic gas, which is the most commonly used method for eliminating infection-causing microbes from medical devices.

“Large companies have enough liquidity to fund the significant increase in spending without incremental debt,” Moody’s said in a subscribers-only report this week. “But the higher costs and compliance requirements could make the business less attractive for some small companies.”

The largest commercial sterilizers can absorb the cost of new…

They said it at DeviceTalks Boston 2023

Medical device industry leaders from Boston Scientific, Abbott, ZimVie, Medtronic, Stryker and more met at DeviceTalks Boston to share lessons learned and their perspectives on industry trends, device design and medtech innovation.

BD Chair, CEO and President Tom Polen (right) at DeviceTalks Boston with DeviceTalks Editorial Director Tom Salemi [Photo by Jeff Pinette for Medical Design & Outsourcing]

Bidding farewell to DeviceTalks Boston 2023, we look back at an exceptional two-day medical device conference teeming with insights from over 100 top industry leaders.

These experts unfolded many complexities of the medtech industry in more than 35 sessions, walking attendees from the medical device product development continuum through the latest medical innovations and strategies to tackle regulatory challenges, prototyping, manufacturing, product launches and more.

Between the high-profile keynote int…

BD and CerTest Biotec team up on molecular monkeypox diagnostic test

A lab worker prepares samples for the BD Max system. [Photo courtesy of BD]Becton, Dickinson and Co. and CerTest Biotec announced a partnership to develop a molecular diagnostic test for the monkeypox virus.

The CDC is tracking a monkeypox outbreak in the United States and other countries that don’t normally report cases of the infectious virus, which causes a rash and lesions. Monkeypox has been shown to be fatal in up to 10% of cases in Africa.

A “testing bottleneck” may be jeopardizing the ability to contain the virus, experts warned this week.

Get the full story at our sister site, Medical Design & Outsourcing.

BD and CerTest Biotec team up on molecular monkeypox diagnostic test

A lab worker prepares samples for the BD Max system. [Photo courtesy of BD]

Becton, Dickinson and Co and CerTest Biotec announced a partnership to develop a molecular diagnostic test for the monkeypox virus.

The CDC is tracking a monkeypox outbreak in the United States and other countries that don’t normally report cases of the infectious virus, which causes a rash and lesions. Monkeypox has been shown to be fatal in up to 10% of cases in Africa.

A “testing bottleneck” may be jeopardizing the ability to contain the virus, experts warned this week.

The automated BD Max platform’s open system reagent suite will validate the CerTest Viasure Monkeypox CE/IVD molecular test, BD said in a news release.

The Monkeypox PCR Detection Kit for the BD MAX system will be offered in a lyophilized format. The test will come in a tube that snaps into the test-specific position on the…

Key Tech names next CEO as co-founder plans to retire

Key Tech co-founder and CEO Jenny Regan [Photo courtesy of Key Tech]

Key Tech co-founder Jenny Regan plans to retire as CEO of the product development firm at the end of August, making way for VP of Strategy Alex Flamm to take her place.

Regan has been CEO since she and her co-founders launched the Baltimore firm in 1998. The company said it now has 75 interdisciplinary medical product designers and hundreds of clients in the medical technology industry, including Becton Dickinson, GE, Thermo Fisher, HemoSonics, GenMark and Abiomed.

Regan, who led Key Tech’s transition to a fully employee-owned company in 2019, will join the Key Tech Advisory Board.

“I’m incredibly proud of what we’ve built and how much good we’ve been able to do,” Regan said in an announcement posted to the company’s website last week. “I’m confident in our new leadership and will always be inspired by the talen…

BD seeks to establish a new standard of care in blood collection

[Image from BD]BD (NYSE:BDX) earlier this year announced a move that it believes can change the standard of care in blood collection.

With the acquisition of Velano Vascular and its needle-free technology for high-quality blood draws, the company aims to transform patient experience, according to BD’s worldwide president of medication delivery solutions Rick Byrd.

“Needle sticks can be one of the most traumatic aspects of a hospital stay,” Byrd told MassDevice in an interview. “For the patient, obviously, but they’re also anxiety-ridden for the phlebotomist and the nurse who has to perform the needlesticks. … The acquisition of Velano Vascular adds an innovative, needle-free blood draw technology to our portfolio that will reduce the pain and discomfort of multiple needle sticks.

“We believe it will create a whole new standard of care for blood collection.”

The acquisition — for which terms were not dis…

New BD syringe manufacturing lines are up and running in Nebraska

BD (NYSE:BDX) announced today that it increased its manufacturing capacity and domestic supply for syringes and needles.

Franklin Lakes, N.J.-based BD’s new syringe and needle manufacturing lines, which were completed on an accelerated timeline, represent BD’s partnership with Department of Health and Human Services’ (HHS) Assistant Secretary for Preparedness and Response (ASPR).

Get the full story at our sister site, Drug Delivery Business News.

BD to build $200M facility in Spain for pre-filled drug delivery device manufacturing

BD (NYSE:BDX) announced today that it will build a more than $200 million drug delivery device manufacturing facility in Spain.

The approximately $201.5 million (€165 million) high-tech manufacturing facility in Zaragoza, Spain, is expected to create up to 600 jobs by 2030, according to a news release.

Get the full story at our sister site, Drug Delivery Business News.

BD to build $200M facility in Spain for pre-filled drug delivery device manufacturing

BD (NYSE:BDX) announced today that it will build a more than $200 million drug delivery device manufacturing facility in Spain.

The approximately $201.5 million (€165 million) high-tech manufacturing facility in Zaragoza, Spain, is expected to create up to 600 jobs by 2030, according to a news release.

Get the full story at our sister site, Drug Delivery Business News.