Becton, Dickinson and Company (BD) has reported revenues of $5bn for the first quarter of the year, which ended on 31 March.
The figure represents a 2.1% increase compared to the $4.9bn recorded in the prior-year quarter.
The growth was driven by an 8.2% increase in base revenues on a reported basis. However, BD’s Covid-only testing revenues fell to $214m in the quarter, from $474m reported in the same period a year ago.
Net income in the first three-month period of 2022 totalled $454m, up 51.7% compared to $299m in the first quarter of 2021.
Quarterly net income applicable to common shareholders also grew year-over-year (Y-o-Y), from $277m to $431m.
The company’s BD Medical and BD Interventional business segments recorded 4.5% and 9.9% growth in revenues, respectively, in Q1 2022.
Meanwhile, quarterly revenues of the BD Life Sciences unit fell 6.4%, to $1.4bn, on a Y-o-Y basis.
BD chairman, CEO and president Tom Polen said: “We delivered another quarter of strong growth across our base business through continued focused execution and progress against our BD2025 strategy, despite a dynamic and challenging macro environment.
“Our Grow-Simplify-Empower initiatives, innovation pipeline and capital deployment strategy are demonstrating momentum and we remain well-positioned to drive long-term growth and value for shareholders.”
During the quarter, BD completed the acquisition of Cytognos. The deal expands BD’s portfolio of blood cancer diagnostics, immune assessment tests and informatics.
It also introduced the new BD Rhapsody TCR/BCR Multiomic Assay.
Last month, the company launched a new family of BD reagents to support the development of drugs for different diseases.