Becton, Dickinson and Company
BD
TypePublic
IndustryMedical equipment, Consulting
FoundedEast Rutherford, New Jersey (1897 (1897))
FounderMaxwell Becton and Fairleigh S. Dickinson
Headquarters
BD Headquarters
Franklin Lakes, New Jersey
,
U.S.
Area served
Worldwide
Key people
  • Tom Polen[1] (Chairman, CEO and President)
  • Christopher R. Reidy[2] (Executive Vice President and CAO)
  • Christopher DelOrefice[3] (Executive Vice President and CFO)
RevenueIncrease US$20.248 Billion (Fiscal Year Ended September 30, 2021)[4]
Increase US$2.799 Billion (Fiscal Year Ended September 30, 2021)[4]
Increase US$2.002 Billion (Fiscal Year Ended September 30, 2021)[4]
Total assetsDecrease US$53.866 Billion (Fiscal Year Ended September 30, 2021)[4]
Total equityDecrease US$23.677 Billion (Fiscal Year Ended September 30, 2021)[4]
Number of employees
75,000 (2021)[4]
DivisionsBD Medical; BD Life Sciences; BD Interventional
Websitebd.com

41°00′57″N 74°12′36″W / 41.015834°N 74.210136°W / 41.015834; -74.210136

Becton, Dickinson and Company, also known as BD, is an American multinational medical technology company that manufactures and sells medical devices, instrument systems, and reagents. BD also provides consulting and analytics services in certain geographies.

BD is ranked #177 in the 2021 Fortune 500 list[5] based on its revenues for the fiscal year ending September 30, 2020.

In October 2014, the company agreed to acquire CareFusion for a price of US$12.2 billion in cash and stock.[6]

In April 2017, C. R. Bard announced that it would be acquired by Becton, Dickinson and Company (BD).[7] The transaction was completed later that year, and the company became a wholly-owned subsidiary of BD, rebranded as Bard.

History

The company was founded in 1897 in New York City by Maxwell Becton and Fairleigh S. Dickinson. It later moved its headquarters to New Jersey.

In 2004, BD agreed to pay out US$100 million to settle allegations from competitor Retractable Technologies that it had engaged in anti-competitive behavior to prevent the distribution of Retractable's syringes, which are designed to prevent needlestick injury.[8] The lawsuit touched off a series of legal conflicts between the companies. Retractable would accuse BD of patent infringement after BD released a retractable needle of its own. Later Retractable would claim BD was falsely advertising its own brand of retractable needle as the “world’s sharpest needle”.[9]

Finances

For the fiscal year 2017, Becton Dickinson reported earnings of US$1.030 billion, with an annual revenue of US$12.093 billion, an increase of 10.5% over the previous fiscal cycle. Becton Dickinson's shares traded at over US$192 per share, and its market capitalization was valued at over US$63 billion in November 2018.[10]

Year Revenue
in mil. USD$		 Net income
in mil. USD$		 Total Assets
in mil. USD$		 Price per Share
in USD$		 Employees
2005 5,341 722 6,133 44.554
2006 5,738 752 6,825 52.89
2007 6,283 890 7,329 63.81
2008 6,898 1,127 7,913 67.23
2009 6,987 1,232 9,305 58.34
2010 7,124 1,318 9,651 64.62
2011 7,584 1,271 10,430 70.38
2012 7,708 1,170 11,361 68.57
2013 8,054 1,293 12,149 90.12 29,979
2014 8,446 1,185 12,447 111.84 30,619
2015 10,282 695 26,478 137.28 49,517
2016 12,483 976 25,586 158.98 50,928
2017 12,093 1,030 37,734 192.11 41,933
2018 15,983 159 53,904 76,032
2019 17,290 1,082 51,765 76,093
2020 17,117 767 54,012 72,000
2021 20,248 2,002 53,866 75,000

Business segments

A syringe made by BD

Currently there are three business segments.

BD Medical

In certain places, BD Medical also offers consulting and analytics related services. BD Medical's Consulting services are primarily targeted at hospitals, healthcare systems and networks of healthcare providers.

BD Life Sciences

Business units include Biosciences and Integrated Diagnostic Solutions.

Offerings include preanalytical solutions for sample management; immunology research, including flow cytometry and multiomics tools; microbiology and molecular diagnostics; lab automation and informatics; and differentiated reagents and assays.

BD Interventional

The company's line of plastic conical screwtop test tubes, known as 'Falcon tubes', is popular and the term is sometimes used as a generic term for such tubes.[11][12]

Environmental and social track record

As of February 2010, BD was ranked 18th in the EPA Fortune 500 List of Green Power Purchasers.[13] BD was also listed among the top 100 companies in Newsweek's 2009 Green Rankings[14] ranking of the 500 largest American corporations based on environmental performance, policies, and reputation. BD placed third in the health care sector and 83rd overall.[15] In addition, BD has been a component of the Dow Jones Sustainability World Index and the Dow Jones Sustainability North America Index for the four and five consecutive years, respectively.[16]

Pfitzer et al. (2013) identify BD's development of a needleless injection system as an example of leading businesses' role in creating shared value.[17]

Health and safety issues

In April 2016, the Occupational Safety and Health Administration fined BD US$112,700 for safety violations. They found repeat and serious violations of health and safety law that had resulted in two employees having partial finger amputations.[18][19]

In 2020, C.R. Bard, Inc. and its parent company BD were fined $60 million USD for failing to adequately inform patients about health risks related to their transvaginal mesh devices.[20]

Recalls

2007 Discardit II incident in Poland

In mid-2007, the firm's Discardit II series of syringes numbered 0607186 was withdrawn from hospitals and other medical services around Poland, about half a year after the discovery of remains of dark dust in some syringes, which were alleged to have been from this series. The newspaper Dziennik Online claimed that other series such as 06022444, 0603266, and 0607297 were also suspected of being contaminated. BD recalled and tested the syringes in question, and revealed sterile particulates in 0.013 percent of the products.[21]

2010 Q-Syte Luer and IV Catheter partial recall

In February 2010 BD announced a voluntary product recall of certain lots of BD Q-Syte Luer Access Devices and BD Nexiva Closed IV Catheter Systems. BD stated that the use of the affected devices may cause an air embolism or leakage of blood and/or therapy, which may result in serious injury or death. The approximately 2.8 million BD Q-Syte and 2.9 million BD Nexiva units containing 5 million BD Q-Syte devices that were recalled were distributed in the United States, Asia, Canada, Europe, Mexico, the Middle East, South Africa, and South America. The recall was initiated on Oct. 28, 2009 after BD received complaints of problems due to air entry through a part of the device. BD stated that the cause of the problem was manufacturing deviation and claimed that it corrected the problem. BD announced that it notified customers about the recall by letter and has been working with the U.S. Food and Drug Administration and worldwide health agencies to coordinate recall activities.[22]

2021 IV Giving Sets

In March 2021 BD announced a recall of infusion sets for CC, GP, VP, GW/GW800, SE, and IVAC 590 Alaris Pumps and gravity infusion sets and connectors following the news that a supplier falsified sterilisation documents going back ten years.[23][24]

See also

References

  1. ↑ "Tom Polen". bd.com. Retrieved 2 December 2021.
  2. ↑ "Christopher R. Reidy". bd.com. Retrieved 2 December 2021.
  3. ↑ "Christopher DelOrefice". bd.com. Retrieved 2 December 2021.
  4. 1 2 3 4 5 6 "Becton, Dickson and Company 2021 Annual Report". investors.bd.com. 30 September 2021. Retrieved 22 February 2022.
  5. ↑ "Fortune 500 List -2021". Fortune Magazine. Fortune Media IP Limited. Retrieved 6 February 2022.
  6. ↑ "Becton Dickinson to buy CareFusion for $12 billion in cash, stock". Reuters. 2014-10-06. Retrieved 2021-12-10.
  7. ↑ "Becton Dickinson to acquire Bard for $24 billion". Reuters. 23 April 2017.
  8. ↑ Walsh, Marsh (3 July 2004). "Syringe Manufacturer Settles Claim of Market Manipulation". The New York Times. Retrieved 26 February 2019.
  9. ↑ Perriello, Brad (5 December 2016). "UPDATE: Retractable Technologies plummets after appeals court tosses $352m win over Becton Dickinson". Mass Device. Retrieved 27 February 2019.
  10. ↑ "Becton Dickinson Revenue 2006–2018 | BDX". www.macrotrends.net. Retrieved 2018-11-06.
  11. ↑ Leslie DeLong; Nancy Burkhart (25 February 2013). General and Oral Pathology for the Dental Hygienist. Lippincott Williams & Wilkins. p. 663. ISBN 978-1-4511-3153-6.
  12. ↑ Guide to Yeast Genetics and Molecular Biology: Volume 194: Guide to Yeast Genetics and Molecular Biology. Gulf Professional Publishing. 14 May 2004. p. 751. ISBN 978-0-08-057513-1.
  13. ↑ "Green Power Purchasers Fortune 500 List". Archived from the original on 2008-05-11.
  14. ↑ "Newsweek, Greenest Big Companies in America – The 2009 List". Archived from the original on 2009-09-24.
  15. ↑ "Newsweek, Green Ranking 2009 - Becton Dickinson". Archived from the original on 2009-09-26.
  16. ↑ "Dow Jones Sustainability Indexes" (PDF). Archived from the original (PDF) on 2008-07-04.
  17. ↑ Pfitzer, M., Bockstette, V. and Stamp, M., Innovating for Shared Value, Harvard Business Review, September 2013, accessed 24 July 2022
  18. ↑ "OSHA finds dozen violations at Becton, Dickinson and Co. in Holdrege after two workers suffer finger amputations". OSHA. April 12, 2016. Retrieved April 18, 2016.
  19. ↑ "Becton Dickinson dystrybutor - Sprzęt medyczny BD Medical Systems". www.skamex.com.pl. Retrieved 2019-01-16.
  20. ↑ "Company to pay $60 million for deceptive marketing with pelvic mesh - CBS News". www.cbsnews.com. 25 September 2020.
  21. ↑ "Reuters: Becton Dickinson expands syringe recall in Poland". 2007-08-06.
  22. ↑ "Reuters: Becton Dickinson recalls intravenous devices". 2010-02-08.
  23. ↑ "Millions of BD IV giving sets recalled amid contamination concerns". NursingNotes. 2021-03-22. Retrieved 2021-05-27.
  24. ↑ "National Patient Safety Alert: Supply disruption of sterile infusion sets and connectors manufactured by Becton Dickinson (BD) (NatPSA/2021/001/MHRA)". GOV.UK. Retrieved 2021-05-27.
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