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February 4, 2022updated 08 Feb 2022 8:52am

Becton, Dickinson and Company reports decline in Q1 2022 revenue

The company’s Medical segment reported growth in revenue driven by strong performance in the MDS and PS units.

Becton, Dickinson and Company (BD) has reported $5bn of revenue for the first quarter (Q1) of the fiscal year 2022, representing a decline of 6% on reported and 5.9% on currency-neutral basis due to a fall in Covid-only testing revenues across the world.

In base revenues, the company reported 8.1% growth as reported and 8.3% on currency-neutral basis.

BD’s Medical segment reported growth in revenue, which was driven by strong performance in the Medication Delivery Solutions (MDS) and Pharmaceutical Systems (PS) units.

The Medical segment’s revenue for the quarter stood at $2.39bn, representing a 6% rise when compared to $2.26bn in 2020.

Recently, the company received 510(k) clearance for BD Kiestra IdentifA from the US Food and Drug Administration (FDA). Using smart connected robotics, the device automates the preparation of microbiology bacterial identification testing.

It also announced new distribution and retail partners for its BD Veritor At-Home COVID-19 Test.

Last December, BD concluded the purchase of Scanwell Health in order to expand and scale digital at-home medical testing.

The company also marked its entry point into the treatment of chronic venous insufficiency with the acquisition of Venclose.

Additionally, BD completed the acquisition of self-adhesive surgical sealant films developer Tissuemed and flow cytometry solutions provider Cytognos.

BD chairman, CEO and president Tom Polen said: “We continue to advance our innovation pipeline and tuck-in M&A strategy, strengthening our leadership position in our durable core and adding transformative solutions to our portfolio.

“As we look forward, we are confident in our ability to deliver on our commitments and are well-positioned to create long-term growth and value for all our stakeholders.”

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