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July 31, 2020updated 21 Aug 2020 11:55am

BD receives investment for Covid-19 test manufacturing in US

Becton, Dickinson and Company (BD) has received a $24m investment from the US Government to support the manufacturing scale-up of Covid-19 diagnostic tests.

Becton, Dickinson and Company (BD) has received a $24m investment from the US Government to support the manufacturing scale-up of Covid-19 diagnostic tests.

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The investment has been made by the US Department of Defense and the US Department of Health and Human Services.

The fund will be used to expand the manufacturing capabilities of the company’s BD Veritor Solution for Rapid Detection of SARS-CoV-2.

The company plans to use the additional capital to boost domestic production and increase total production capacity by 50%.

It is estimated that the investments will ramp up global production to more than 12 million test kits a month by the end of F ebruary 2021.

BD Integrated Diagnostic Solutions president Dave Hickey said: “Making Covid-19 diagnostic tests widely available is critical to expanding rapid detection of Covid-19 infections and mitigating the impact of the disease by identifying affected patients, quickly quarantining infectious individuals and tracing their contacts.

“This investment will bolster our US manufacturing capabilities, helping us quickly scale our production of point-of-care Covid-19 tests to ensure we have a robust supply for our US customers.”

BD obtained the F ood and Drug Administration (F DA) emergency use authorisation (EUA) for the BD Veritor Plus SARS-CoV-2 antigen assay earlier this month. The assay was developed to be used in healthcare settings for the rapid diagnosis of Covid-19 in symptomatic individuals.

The company plans to leverage the US-installed base of over 25,000 BD Veritor Plus instruments to fuel the deployment of the SARS-CoV-2 assay across the country.

Earlier this month, BD formed a strategic partnership with the Biomedical Advanced Research and Development Authority (BARDA) in the US to establish new manufacturing lines for injection devices.

The company recently secured additional orders from the US and Canada government s for 177 million syringes and needles to support Covid-19 vaccination efforts.

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Free Report
img

What is driving M&A activity in the MedTech space?

The COVID-19 pandemic has left an indelible mark on the MedTech landscape. Changes in how healthcare is delivered, and new treatment modalities, are creating opportunities and challenges for both new and traditional players. As companies sought out opportunities during the pandemic-driven downturn, the number and value of mergers and acquisition deals in the MedTech space increased. Companies worked to reposition themselves in the newly aligned healthcare world, but with further economic turmoil expected: will these trends be repeated? And what tech areas should firms be looking to expand their capabilities into? GlobalData’s report, “Themes driving M&A activity in the Medical Devices Sector, Q1 2022,” draws upon GlobalData’s extensive MedTech deals databases, highlighting major trends and hot themes in M&A activity. This report will assist you in:
  • Understanding value and volume trends in M&A from Q1 2018 to Q1 2022
  • Understanding regional trends in M&A activity
  • Understanding which medical device sectors are leading M&A activity, and which are lagging
  • Understanding the leading tech trends in Q1 2022 M&A activity
  • Knowing the key deals that occurred during Q1 2022
Download the full report to understand what to expect and how to align your business for success.
by GlobalData
Enter your details here to receive your free Report.

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