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BD stock up on Street-beating preliminary quarterly revenue numbers

Becton Dickinson (NYSE:BDX) today announced that it brought in $5.3 billion in revenue for its first quarter ended Dec. 31, 2020, beating the nearly $4.7 billion expected by Wall Street analysts.

The announcement of the preliminary unaudited Q1 results sent BDX shares up 1.8% to $261.75 apiece by midday trading today. MassDevice’s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was down slightly.

The Q1 revenue was up 25.6% from the same quarter a year before. Strong demand COVID-19 diagnostic tests played a primary role, but BD also saw better-than-expected performance across all three segments as elective and routine procedure volume showed greater resiliency as a new wave of the novel coronavirus pandemic struck the world.

On top of being an important provider of COVID diagnostic tests, BD is also playing a crucial role in supplying the syringes needed to deliver the newly approved vaccines.

Get the ful…

BD stock up on Street-beating preliminary quarterly revenue numbers

Becton Dickinson (NYSE:BDX) today announced that it brought in $5.3 billion in revenue for its first quarter ended Dec. 31, 2020, beating the nearly $4.7 billion expected by Wall Street analysts.

The announcement of the preliminary unaudited Q1 results sent BDX shares up 1.8% to $261.75 apiece by midday trading today. MassDevice’s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was down slightly.

The Q1 revenue was up 25.6% from the same quarter a year before. Strong demand COVID-19 diagnostic tests played a primary role, but BD also saw better-than-expected performance across all three segments as elective and routine procedure volume showed greater resiliency as a new wave of the novel coronavirus pandemic struck the world.

On top of being an important provider of COVID diagnostic tests, BD is also playing a crucial role in supplying the syringes needed to deliver the newly approved vaccines.

“We h…

Medtech takes a stand on D.C. rioting

The medtech industry has joined other business and industry groups in condemning Tuesday’s siege of the Capitol in Washington, D.C. by supporters of President Donald Trump.

The National Manufacturers Association called for Vice President Mike Pence to invoke the 25th Amendment to remove President Donald Trump from office. The Business Roundtable tweeted a call for an end to the violence and for a peaceful transition of power to President-elect Joe Biden’s administration.

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

BD has a serious recall of some Alaris System infusion pumps with stuck keys

The FDA announced today that the August recall of a Becton Dickinson (NYSE:BDX) Alaris PC unit is Class I, the most serious kind.

Initiated on Aug. 4, 2020, the recall pertains to the BD Alaris PC unit 8015 and five affected keypad replacement kits manufactured between April 7, 2017 and June 15, 2020 and distributed between April 12, 2017 and June 25, 2020. A total of 305,526 devices have been recalled in the U.S., according to an FDA release.

BD is recalling the Alaris PC unit and the PC unit front case with keypad replacement kits because the keypad may have one or more keys in the keypad that become unresponsive or stuck, which could lead to an infusion delay or prevent clinicians from changing the fluid or medication infusions on the affected device.

Use of the affected Alaris infusion pump units could cause serious adverse events, including death, although no deaths have been reported to date. So far, there have been 1,186 reported complaints about …

MedTech 100 roundup: Stocks brought back down again

A week after topping pre-pandemic highs, the medtech industry’s stocks were brought back down to earth in quick fashion.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week at 89.03 (Sep. 11), marking a -0.3% dip from the 89.29 points registered at the end of the week prior (Sep. 4).

However, the slight dip from week-to-week doesn’t show that, just before the Sep. 4 mark, medtech stocks had reached 93.11 points on Sep. 2, coming in nearly a full point ahead of the pre-pandemic high of 92.32, which the market reached on Feb. 19.

During the week, the index dipped down to 88.22 points, which is the lowest total it has reached since it sat at 87.06 on July 16. By climbing back up to 89.03, the index now represents a -4.4% drop from the Sep. 2 high point and a -3.6% drop from the pre-pandemic high set on Feb. 19.

Meanwhile, the S&P 500 Index saw a -2.5% dip from Sep…

6 Georgia residents suing Sterigenics, BD over ethylene oxide exposure

Ethylene oxide (Image from Sterigenics)

The first six of what attorneys said could be more than 100 lawsuits were filed recently in Georgia against Sterigenics and Becton Dickinson (NYSE:BDX) by people who have lived, worked or attended school near those companies’ medical device sterilization plants.

The plants use ethylene oxide (EtO) to sterilize millions of devices per year and reportedly have emitted thousands pounds of the gas into the atmosphere over the past. The U.S. Environmental Protection Agency named EtO a Level 1 carcinogen in 2016. Two years later, the EPA’s National Air Toxics Assessment identified 12 areas of the country with elevated levels of EtO emissions and associated cancer risk, including the areas of Georgia where BD and Sterigenics have EtO plants.

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

BD says 3 serious issues related to Alaris recall

Becton Dickinson (NYSE:BDX) today offered an update confirming three separate issues related to the recall of its BD Alaris infusion pumps.

Three situations described in the recall, which was announced on June 30, were designated as FDA Class I recalls (the most serious kind), meaning that there is reasonable probability that use of the product will cause serious adverse health incidents or death, according to a news release.

One situation was tabbed as a Class II recall, meaning use of the product may cause temporary or medically reversible adverse health consequences where the probability of serious incidents is remote.

The FDA’s classification has no impact on the original guidance issued by BD when it initially announced the recall, as the company notified customers of four potential hardware situations that may result in the infusion pump not operating as expected:

Damaged inter-unit interface (IUI) connectors (Situation 1 – Class I) Brok…

BD names IR director

Becton Dickinson (NYSE:BDX) announced yesterday that it appointed Kristen Stewart as its new senior VP of strategy and investor relations.

In the newly created position, Stewart is slated to work closely with the BD executive team to “drive shareholder value and communicate the company’s long-term growth strategy,” according to a news release.

Stewart previously held roles at multiple Wall Street investment banks over two decades, most recently leading the medical technology research franchise at Barclays Capital. Institutional Investor has named her as one of the top three analysts in the medical supplies & devices category several times, BD said.

“I have watched through the analyst lens as BD has transformed into a global medical technology innovator,” Stewart said in the release. “I am excited by BD’s current strategic direction and believe the company has significant potential to optimize shareholder valu…

FDA releases first pandemic supply shortage list

Respirator masks are among the most effective forms of protection health care workers have against contracting COVID-19. (Image courtesy of Sandia)

Months into the coronavirus pandemic, the FDA has released its first official list of shortages of items needed by healthcare workers.

The list ranges from personal protective equipment (PPE) such as gowns and gloves to testing supplies and ventilation-related products for the sickest patients. The list also includes Becton Dickinson (NYSE:BDX) BodyGuard infusion pump and syringe pump systems, which were discontinued in April following a Class 1 recall.

Frontline healthcare workers have spoken out about PPE shortages since the pandemic began hitting the U.S. hard earlier this year, even setting up their own supply lines such as GetUsPPE, a volunteer organization connecting healthcare providers with supplies of PPE during the COVID-19 pandemic. GetUsPPE’s …

MedTech 100 roundup: Up-and-down week for industry

Medtech stocks highlighted the topsy-turvy nature of the market last week, but ultimately finished the seven days nearly unchanged.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.77 points at the end of last week (Aug. 14). Overall, medtech stocks saw a 0.13% increase from the 89.65-point total at the same time a week prior (Aug. 7).

On Aug. 13, the index reached 90.4 points, a total that nearly poked past the previous mid-pandemic high (90.45), which came just last week.

The most recent high mark represents just a -2.1% dip from the Feb. 19 high point of 92.32, while the tally at the end of the week marks a -2.8% decrease from that pre-pandemic high.

Meanwhile, the S&P 500 Index saw a 0.64% increase from Aug. 7 to Aug. 14, and the Dow Jones Index fared even better, rising 1.8% over the same period of time.

Medtech’s lowest point during the COVID-19 pandemic remains at …

The top 5 MassDevice stories of the week — August 14, 2020

COVID-19 continues to batter medical device companies — not to mention the world as a whole. But some of this week’s top five MassDevice stories demonstrate that medtech companies continue to innovate and ink business deals as they look toward a post-pandemic future.

Want to hear more about the week’s top news? Executive editor Chris Newmarker and Tom Salemi will discuss during our DeviceTalks Weekly podcast. Without further ado, here’s this week’s MassDevice Top Five:

5. Federal appeals court rejects preemption argument from BD’s Bard

The 9th U.S. Circuit Court of Appeals handed down an important medical device preemption opinion as it affirmed a $3.6 million award against Becton Dickinson & Co. (NYSE:BDX) subsidiary C.R. Bard in a bellwether lawsuit case over inferior vena cava filters. Read the full story.

4. Theranos founder Elizabeth Holmes’ trial to start in March

Ex-Theranos CEO Elizabeth Holmes’ federal fraud trial will now start in Ma…

Federal appeals court rejects preemption argument from BD’s Bard

[Image from Unsplash]

The 9th U.S. Circuit Court of Appeals has handed down an important medical device preemption opinion as it affirmed a $3.6 million award against Becton Dickinson & Co. (NYSE:BDX) subsidiary C.R. Bard in a bellwether lawsuit case over inferior vena cava filters.

Bard’s lawyers had argued that when FDA reclassified intravascular filters as Class II devices, the agency’s special controls for such devices provided preemption against lawsuits for Bard’s G2 IVC filter. A U.S. District Court judge in Arizona should have granted Bard’s summary judgment motion involving Sherr-Una Booker’s lawsuit, Bard said.

The 9th Circuit disagreed in the opinion it handed down yesterday: “We assume, without deciding, that the special controls are requirements, but we nevertheless conclude that they are not ‘specific’ requirements ‘applicable to a pa…