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Report: BD, Quidel struggle to supply antigen tests for COVID-19

(Image from the CDC)

Becton Dickinson (NYSE:BDX) and Quidel are struggling to fulfill orders for rapid COVID-19 antigen tests as the virus continues to spread, according to a report in the Wall Street Journal.

The newspaper reported today that the two companies, which are the only ones that have FDA emergency use authorizations to sell the rapid diagnostics, cannot keep up with demand and that the Department of Defense is preparing another major order. The companies sell the analyzer equipment to perform the tests as well as the actual tests. Quidel told the Journal that it is having trouble meeting demand for analyzers, while BD is struggling to produce enough tests, the newspaper reported. Neither company immediately responded to requests for comment.

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

Report: BD, Quidel struggle to supply antigen tests for COVID-19

(Image from the CDC)

Becton Dickinson (NYSE:BDX) and Quidel are struggling to fulfill orders for rapid COVID-19 antigen tests as the virus continues to spread, according to a report in the Wall Street Journal.

The newspaper reported today that the two companies, which are the only ones that have FDA emergency use authorizations to sell the rapid diagnostics, cannot keep up with demand and that the Department of Defense is preparing another major order. The companies sell the analyzer equipment to perform the tests as well as the actual tests. Quidel told the Journal that it is having trouble meeting demand for analyzers, while BD is struggling to produce enough tests, the newspaper reported. Neither company immediately responded to requests for comment.

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

MedTech 100 roundup: Another high as stocks tick up

For the third consecutive week, stocks in the medtech industry reached heights not yet seen since the COVID-19 pandemic began.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.65 points at the end of last week (Aug. 7). Overall, medtech stocks saw a 0.72% increase from the 89.01-point total at the same time a week prior (July 31).

On Aug. 5, the index reached 90.45 points, marking its highest point since that pre-pandemic high, with the previous mid-pandemic high (90.37) coming last week.

The most recent high mark represents just a -2% dip from the Feb. 19 high point of 92.32, marking the smallest margin of decline over the past five months.

Meanwhile, the S&P 500 Index saw a 2.5% increase from July 31 to Aug. 7, and the Dow Jones Index fared even better, positng a 3.8% rise over the same period of time.

Medtech’s lowest point during the COVID-19 pandemic remains at 62.13…

Becton Dickinson slides on mixed-bag Q2, declining revenue projections

Becton Dickinson (NYSE:BDX) shares took a big hit today on second-quarter results that were mixed compared to the consensus forecast.

BDX shares were down -8.5% at $259.32 in mid-morning trading today.

The Franklin Lakes, N.J.-based company posted profits of $286 million, or 97¢ per share, on sales of $3.85 billion for the three months ended June 30, 2020, for a -36.6% bottom-line slide on a sales decline of -11.4%.

Adjusted to exclude one-time items, earnings per share were $2.20, 16¢ ahead of Wall Street, where analysts were looking for sales of $3.94 billion.

BD reported that the COVID-19 pandemic resulted in negative growth in segments including medical (primarily driven by medical delivery solutions’ decreases). Life sciences saw a -10.1% decrease, but it could have been worse if not for the company’s efforts in COVID-19 diagnostic testing.

“During the third quarter, BD demonstrated our focus on execution and deliveri…

MedTech 100 roundup: Industry remains on the rise

The medtech industry continues to climb back up in the markets, following a landmark week with another move up toward its pre-COVID-19-pandemic highs.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.29 points at the end of last week (July 24). That total represents just a -3.3% dip from the Feb. 19 high point of 92.32, marking the smallest margin of decline over the past five months.

On July 22, the index reached 90.11 points, marking its highest point since that pre-pandemic high and the first and only time it has eclipsed 90 points since that day in February.

Medtech stocks saw a 0.44% increase from the 88.9-point total at the same time a week prior (July 17), highlighting a slight improvement after last week saw the industry inch back toward that pre-pandemic high.

Meanwhile, the S&P 500 Index saw a -0.3% decline from July 17 to July 24, and the Dow Jones Index fared slightl…

DTWeekly Podcast: Can Drawbridge, Edwards bring disruptive innovation to blood drawing, heart surgery industries?

In this week’s podcast, we talk with Holly Logue, general counsel at Drawbridge Health, about the OneDraw, an innovative new tool that might upend the collecting, storage and testing of blood. Logue, a panelist in the upcoming DeviceTalks Tuesdays sponsored by Finnegan, will explain how her past work on Capitol Hill is helping this Silicon Valley company’s plans.

Meanwhile, we speak with Daveen Chopra, corporate vice president of surgical structural heart at Edwards Lifesciences, about that company’s commitment to treating the most serious cardiac patients. The company recently won FDA approval for its Konect Resilia aortic valve conduit, a vital new tool in helping heart patients, including many requiring emergency story.

Co-costs Tom Salemi, editorial director of DeviceTalks, and Chris Newmarker, executive editor of life sciences at MassDevice, review the five biggest news stories of the week. We’ll talk about Abbott, Becton Dickinson, Boston Scientific…

BD lands order for 177m injection devices for COVID-19

Becton Dickinson (NYSE:BDX) today said it received additional pandemic orders for needles and syringes from the U.S. and Canada, totaling 177 million devices.

The U.S. ordered an additional 140 million injection devices, bringing the total orders from BD to 190 million devices. Canada ordered an additional 37 million devices, totaling 75 million devices from BD.

BD has received a total of 330 million needle and syringe orders from the U.S., Canada and the U.K., which will be delivered by the end of this year with the anticipation of a COVID-19 vaccine being approved by the end of the year or early 2021.

The company said it does not expect the influx of orders to impact its ability to fulfill existing customer requirements for needles and syringes.

“Proactive actions taken by the U.S., Canada and the U.K. to order injection devices now will help these countries be ready to administer a vaccine when one is approved and ready,” Rick Byrd,…

AdvaMed unveils COVID-19 diagnostic supply registry

AdvaMed announced today that it created a comprehensive national COVID-19 diagnostic supply registry to aid state and federal pandemic responses.

According to a news release, AdvaMed is launching the registry in partnership with 13 commercial diagnostics manufacturers: Abbott (NYSE:ABT), Becton Dickinson (NYSE:BDX), bioMérieux, Bio-Rad Laboratories (NYSE:BIO), Beckman Coulter, Cepheid, Hologic (NSDQ:HOLX), Ortho Clinical Diagnostics, Qiagen (NYSE:QGEN), Roche Diagnostics, Sekisui Diagnostics, Siemens Healthineers (ETR: SHL), and Thermo Fisher Scientific (NYSE:TMO).

The AdvaMed registry is designed to compile information from the diagnostic companies, along with public data, to create a centralized and standardized COVID-19 diagnostic supply registry to update on weekly numbers at state and national levels regarding molecular, antigen and serology tests shipped in the U.S.

AdvaMed said in the release that the registry will also help streamline communicati…

MedTech 100 roundup: Industry hits pandemic peak

After five months since medtech stocks peaked before the COVID-19 pandemic rocked the markets, the industry inched back toward that pre-pandemic high.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 88.9 points at the end of last week (July 17). That total represents just a -3.7% dip from the Feb. 19 high point of 92.32, marking the smallest margin of decline over the past five months.

Medtech stocks saw a 5.1% increase from the 84.39-point total at the same time a week prior (July 10), highlighting a large improvement after last week saw almost no material change in the index.

Meanwhile, the S&P 500 Index saw a 1.2% bump from July 10 to July 17, and the Dow Jones Index fared even better, posting a 2.3% increase over the same period of time. Both indexes mirrored the medtech industry’s changes as far as increases, but didn’t see as drastic a change.

Medtech’s lowest point du…

Feds to buy hundreds of thousands of COVID-19 antigen tests from BD

The U.S. Departement of Health and Human Services is turning to the new COVID-19 antigen test from Becton Dickinson (NYSE:BDX) as it seeks to boost rapid point-of-care testing.

HHS will buy 2,000 BD Veritor Plus systems and 750,000 SARS-CoV-2 antigen test kits for use in a broad, decentralized network, BD said today. The distribution of the test will start next week.

“The BD Veritor Plus system for rapid detection of SARS-CoV-2 is the latest point-of-care testing advance that will significantly expand testing in distributed locations for the benefit of all Americans,” said Dr. Brett Giroir, a four-star admiral and assistant secretary for health at HHS “This development will help identify community spread of the virus by further enabling rapid diagnosis of COVID-19.”

HHS said yesterday that it plans to distribute rapid point-of-care diagnostic test instruments and tests to nursing homes in COVID-19 hotspot geographic areas within t…

FDA warns of false positives with certain COVID-19 tests from BD

The FDA issued a statement today warning on an increased risk of false positive results with the BD Max System SARS-CoV-2 tests from Becton Dickinson (NYSE:BDX).

The agency is alerting clinical laboratory staff and healthcare providers to the risk after a study in which the manufacturer found that approximately 3% of results from the BD SARS-CoV-2 reagents test for COVID-19 were false positives.

According to the statement, the FDA suggests that lab staff and healthcare providers consider any positive result presumptive from tests using the reagents for the BD Max System. They should also consider confirming with an alternate authorized test and report any issues with the tests to the agency.

Becton Dickinson received FDA emergency use authorization (EUA) and CE Mark approval for its COVID-19 molecular diagnostic test in April. The following month, the company said it was ramping up its testing capacity ahead of a potential second wave of COVID-19.

MedTech 100 roundup: Stocks stand pat in June’s first week

While the markets experienced some growth over the past week, stocks in the medtech industry remained practically unchanged over seven days.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 87.15 points at the end of last week (June 5). That total represents just a -0.02-point decrease from the 87.17-point total at the same time a week prior (May 29), which represented the industry’s highest point since before the COVID-19 pandemic took hold of the markets.

Meanwhile, the S&P 500 Index experienced a 3.14% increase from May 29 to June 5 and the Dow Jones Index fared even better with a 6.81% increase over the same period of time. The market surge came on the back of the White House announcement that 2.5 million jobs were added in May and unemployment rose to 13.3% when a surge to nearly 20% was expected, according to Yahoo Finance.

The lowest point for medtech during the COVID-19 pand…