Becton, Dickinson and Company (BD) (NYSE: BDX), is an American medical technology company that manufactures and sells medical devices, instrument systems and reagents. Founded in 1897 and headquartered in Franklin Lakes, New Jersey, BD does business in nearly 50 countries and has 29,116 employees worldwide.[3] In fiscal year ending Sep. 30 2009, 60% of BD sales were generated from non-U.S. markets.
The company's customers include healthcare institutions, clinical laboratories, industry and the general public. BD was one of the first companies to sell U.S.-made glass syringes. It was also a pioneer in the production of hypodermic needles. Today, BD is divided into three segments: BD Medical, BD Diagnostics and BD Biosciences.[4] BD was ranked 347 and 312, respectively, in the 2009 and 2010 Fortune 500 list.
Becton, Dickinson and Company (BD), incorporated in November 1906, is a global medical technology company engaged in the development, manufacture and sale of medical devices, instrument systems and reagents used by healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry and the general public. BD’s operations consist of three business segments: BD Medical, BD Diagnostics and BD Biosciences. On November 19, 2009, BD acquired 100% of the outstanding shares of HandyLab, Inc. (HandyLab), a company that develops and manufactures molecular diagnostic assays and automation platforms. During the fiscal year ended September 30, 2010 (fiscal 2010), the Company sold the Ophthalmic Systems unit, as well as the surgical blades, critical care and extended dwell catheter product platforms of the Medical Surgical Systems unit.
BD’s products are manufactured and sold worldwide. The Company’s operations outside the United States include in Europe (which includes the Middle East and Africa); Japan; Asia Pacific (which includes Australia and all of Asia except Japan); Latin America (which includes Mexico and Brazil), and Canada. The principal products sold by BD outside the United States are needles and syringes; insulin syringes and pen needles; diagnostic systems; BD Vacutainer brand blood collection products; BD Hypak brand prefillable syringe systems; infusion therapy products; flow cytometry instruments and reagents; and disposable laboratory products. BD has manufacturing operations outside the United States in Brazil, Canada, China, France, Germany, Hungary, India, Ireland, Japan, Mexico, Pakistan, Singapore, South Korea, Spain, Sweden and the United Kingdom.
BD Medical
BD Medical produces a range of medical devices which are used in a range of healthcare settings. BD Medical’s principal product lines include needles, syringes and intravenous catheters for medication delivery (including safety-engineered and auto-disable devices); prefilled IV flush syringes; syringes and pen needles for the self-injection of insulin and other drugs used in the treatment of diabetes; prefillable drug delivery systems provided to pharmaceutical companies and sold to end-users as drug/device combinations; regional anesthesia needles and trays, and sharps disposal containers. The primary customers served by BD Medical are hospitals and clinics; physicians’ office practices; consumers and retail pharmacies; governmental and non-profit public health agencies; pharmaceutical companies, and healthcare workers.
BD Diagnostics
BD Diagnostics provides products for the safe collection and transport of diagnostics specimens, as well as instrument systems and reagents to detect a range of infectious diseases, healthcare-associated infections (HAIs) and cancers. BD Diagnostics’ principal products include integrated systems for specimen collection; safety-engineered blood collection products and systems; automated blood culturing systems; molecular testing systems for sexually transmitted diseases and HAIs; microorganism identification and drug susceptibility systems; liquid-based cytology systems for cervical cancer screening; rapid diagnostic assays, and plated media. BD Diagnostics serves hospitals, laboratories and clinics; reference laboratories; blood banks; healthcare workers; public health agencies; physicians’ office practices, and industrial and food microbiology laboratories.
BD Biosciences
BD Biosciences produces research and clinical tools that facilitate the study of cells, and the components of cells, to gain a better understanding of normal and disease processes. That information is used to aid the discovery and development of new drugs and vaccines, and to improve the diagnosis and management of diseases. BD Biosciences’ principal product lines include fluorescence-activated cell sorters and analyzers; monoclonal antibodies and kits for performing cell analysis; reagent systems for life science research; cell imaging systems; laboratory products for tissue culture and fluid handling; diagnostic assays, and cell culture media supplements for biopharmaceutical manufacturing. The primary customers served by BD Biosciences are research and clinical laboratories; academic and governmental institutions; pharmaceutical and biotechnology companies; hospitals, and blood banks.
In the late 1990s Becton, Dickinson was troubled by a spate of lawsuits arising from healthcare workers who had contracted blood-borne diseases using the company's conventional, unguarded needles and syringes. The suits alleged that safer needles had been available for years but Becton, Dickinson had not been promoting their use. For its part, the company said that it had invested more than $100 million into development of safer products, which were available for its customers to purchase, but it was up to the hospitals and medical centers to make the conversion. By decade's end, a shift to safer needles was clearly underway, in part due to government mandates at the state level.
During 1999 Edward J. Ludwig became president and CEO of Becton, Dickinson, with Castellini remaining chairman. The financial results for that year were a disappointment, stemming from weaker-than-expected sales in Europe and emerging markets and from an ailing home healthcare unit, which made such items as ear thermometers and blood pressure monitors. A restructuring was launched in the second half of the year that included the company's exit from the home healthcare sector. In addition, the company reorganized its remaining operations into three business segments: BD Medical Systems, BD Biosciences, and BD Preanalytical Solutions. Becton, Dickinson also began implementing a global brand strategy in which the 'BD' name would appear on all of the company's products, either alone or alongside such well-known brands as ACE, Vacutainer, and Tru-Fit. Becton, Dickinson ambitiously aimed to have its new 'BD' logo 'become as universally recognized worldwide as the Red Cross.' Becton, Dickinson thus headed into the new century with a new identity, a new structure, and a commitment to achieving a quick turnaround during what was certain to be an even more competitive period for medical device companies.
Principal Subsidiaries: BDX INO LLC; Becton Dickinson AcuteCare Holdings, Inc.; Becton Dickinson Asia Pacific Limited (British Virgin Islands); Becton Dickinson B.V. (Netherlands); Becton Dickinson Caribe, Ltd. (Cayman Islands); Becton Dickinson Infusion Therapy Holdings Inc.; Becton Dickinson Infusion Therapy Systems Inc.; Becton Dickinson Korea, Inc.; Becton Dickinson Korea Holding, Inc.; Becton Dickinson Malaysia, Inc.; Becton Dickinson (Mauritius) Limited; Becton Dickinson Medical Devices Co. Ltd., Suzhou (China; 99%); Becton Dickinson Medical Products Pte. Ltd. (Singapore); Becton Dickinson Monoclonal Center, Inc.; Becton Dickinson Overseas Services Ltd.; Becton Dickinson Pen Limited (Ireland); Becton Dickinson Service (Pvt.) Ltd. (Pakistan; 51%); Becton Dickinson Venture LLC; Becton, Dickinson and Company, Ltd. (Ireland); Becton, Dickinson B.V. (Netherlands); Becton Dickinson France, S.A.; Benex Ltd. (Ireland); Biometric Imaging, Inc.; Clontech Laboratories, Inc.; Critical Device Corporation; Collaborative Biomedical Products, Inc.; Difco Laboratories Incorporated; Franklin Lakes Enterprises, L.L.C.; IBD Holdings LLC (50%); Johnston Laboratories, Inc.; MDI Instruments, Inc.; Med-Safe Systems, Inc.; PharMingen; Saf-T-Med Inc.; Staged Diabetes Management L.L.C. (50%).
Principal Operating Units: BD Medical Systems; BD Biosciences; BD Preanalytical Solutions.
Principal Competitors: Abbott Laboratories; ALZA Corporation; American Home Products Corporation; Ballard Medical Products; Baxter International Inc.; Boston Scientific Corporation; Bristol-Myers Squibb Company; C.R. Bard, Inc.; Diagnostic Products Corporation; Isolyser Company, Inc.; Johnson & Johnson; Mallinckrodt Inc.; Maxxim Medical, Inc.; McKesson General Medical; Medical Action Industries Inc.; Medline Industries, Inc.; Novo Nordisk A/S; Pfizer Inc; Teleflex Corporation; Trinity Biotech Plc; United States Surgical Corporation; Vital Signs, Inc.
OVERALL
Beta: 0.57
Market Cap (Mil.): $19,002.61
Shares Outstanding (Mil.): 221.11
Annual Dividend: 1.64
Yield (%): 1.91
FINANCIALS
BDX Industry Sector
P/E (TTM): 16.52 5.56 40.56
EPS (TTM): 4.71 -- --
ROI: -- 2.56 1.91
ROE: -- 3.75 2.49
Statistics:
Public Company
Incorporated: 1906
Employees: 24,000
Sales: $3.42 billion (1999)
Stock Exchanges: New York
Ticker Symbol: BDX
NAIC: 339112 Surgical and Medical Instrument Manufacturing; 339113 Surgical Appliance and Supplies Manufacturing; 334516 Analytical Laboratory Instrument Manufacturing; 326199 All Other Plastics Product Manufacturing; 541710 Research and Development in the Physical, Engineering, and Life Sciences
Key Dates:
1897: Maxwell W. Becton and Fairleigh S. Dickinson form partnership.
1904: Philadelphia Surgical Company and Wigmore Company are acquired.
1906: Partnership is incorporated as Becton, Dickinson & Company; factory is built in East Rutherford, New Jersey.
1913: Surgical Supply Import Company is acquired.
1917: Sales reach $1 million.
1918: Company introduces the ACE bandage.
1921: Company acquires Physicians Specialty Company.
1924: Company begins making syringes designed specifically for insulin injection.
1925: Fairleigh Dickinson receives a patent for the Luer-Lok tip.
1943: Multifit, maker of a syringe with interchangeable parts, is acquired.
1948: Henry P. Becton and Fairleigh Dickinson, Jr., sons of the founders, assume managerial control of the company.
1949: Entry into diagnostic medicine with the patenting of the Evacutainer blood collection device.
1951: International expansion begins with the formation of a Canadian subsidiary.
1955: Baltimore Biological Laboratories is acquired, enlarging the firm's presence in the burgeoning market for disposable medical products.
1962: Company goes public.
1974: Wesley J. Howe is named president and CEO.
1978: Sun Oil Company acquires a 34 percent stake in the company.
1979: Becton, Dickinson and Sun reach agreement on the eventual disposal of Sun's stake.
1980s:Restructuring and disposal of noncore operations.
1989: Raymond V. Gilmartin is named CEO.
1994: Clateo Castellini is named chairman, CEO, and president.
1997: PharMingen Inc. and Difco Laboratories Incorporated are acquired.
1998: The Medical Devices Division of the BOC Group is acquired.
1999: Company reorganizes its operations into three business segments: BD Medical Systems, BD Biosciences, and BD Preanalytical Solutions; company launches a global brand strategy focusing on the 'BD' name.
Name Age Since Current Position
Ludwig, Edward 59 2009 Chairman of the Board, Chief Executive Officer
Forlenza, Vincent 57 2010 President, Chief Operating Officer
Elkins, David 42 2008 Chief Financial Officer, Executive Vice President
Cohen, Gary 51 2006 Executive Vice President
Kozy, William 58 2006 Executive Vice President
Bruder, Scott 48 2007 Senior Vice President, Chief Technology Officer
Sherman, Jeffrey 55 2006 Senior Vice President, General Counsel
Boles, Donna 57 2006 Senior Vice President - Human Resources
Shrader, Patricia 60 2006 Senior Vice President - Corporate Regulatory and External Affairs
Durack, David 65 2006 Senior Vice President - Corporate Medical Affairs
Warye, Kathy 2010 Vice President - Infection Prevention
Sommer, Alfred 68 1998 Director
Overlock, Willard 64 1999 Director
Orr, James 65 2000 Director
Scott, Bertram 59 2002 Director
Mecklenburg, Gary 63 2004 Director
Mahmoud, Adel 69 2006 Director
Larsen, Marshall 62 2007 Director
Minehan, Cathy 63 2007 Director
Becton, Henry 68 1987 Independent Director
DeGraan, Edward 67 2003 Independent Director
Anderson, Basil 66 2004 Independent Director
Fraser-Liggett, Claire 55 2006 Independent Director
Jones, Christopher 55 2010 Independent Director
Address:
One Becton Road
Franklin Lakes, New Jersey 07417-1880
U.S.A.
The company's customers include healthcare institutions, clinical laboratories, industry and the general public. BD was one of the first companies to sell U.S.-made glass syringes. It was also a pioneer in the production of hypodermic needles. Today, BD is divided into three segments: BD Medical, BD Diagnostics and BD Biosciences.[4] BD was ranked 347 and 312, respectively, in the 2009 and 2010 Fortune 500 list.
Becton, Dickinson and Company (BD), incorporated in November 1906, is a global medical technology company engaged in the development, manufacture and sale of medical devices, instrument systems and reagents used by healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry and the general public. BD’s operations consist of three business segments: BD Medical, BD Diagnostics and BD Biosciences. On November 19, 2009, BD acquired 100% of the outstanding shares of HandyLab, Inc. (HandyLab), a company that develops and manufactures molecular diagnostic assays and automation platforms. During the fiscal year ended September 30, 2010 (fiscal 2010), the Company sold the Ophthalmic Systems unit, as well as the surgical blades, critical care and extended dwell catheter product platforms of the Medical Surgical Systems unit.
BD’s products are manufactured and sold worldwide. The Company’s operations outside the United States include in Europe (which includes the Middle East and Africa); Japan; Asia Pacific (which includes Australia and all of Asia except Japan); Latin America (which includes Mexico and Brazil), and Canada. The principal products sold by BD outside the United States are needles and syringes; insulin syringes and pen needles; diagnostic systems; BD Vacutainer brand blood collection products; BD Hypak brand prefillable syringe systems; infusion therapy products; flow cytometry instruments and reagents; and disposable laboratory products. BD has manufacturing operations outside the United States in Brazil, Canada, China, France, Germany, Hungary, India, Ireland, Japan, Mexico, Pakistan, Singapore, South Korea, Spain, Sweden and the United Kingdom.
BD Medical
BD Medical produces a range of medical devices which are used in a range of healthcare settings. BD Medical’s principal product lines include needles, syringes and intravenous catheters for medication delivery (including safety-engineered and auto-disable devices); prefilled IV flush syringes; syringes and pen needles for the self-injection of insulin and other drugs used in the treatment of diabetes; prefillable drug delivery systems provided to pharmaceutical companies and sold to end-users as drug/device combinations; regional anesthesia needles and trays, and sharps disposal containers. The primary customers served by BD Medical are hospitals and clinics; physicians’ office practices; consumers and retail pharmacies; governmental and non-profit public health agencies; pharmaceutical companies, and healthcare workers.
BD Diagnostics
BD Diagnostics provides products for the safe collection and transport of diagnostics specimens, as well as instrument systems and reagents to detect a range of infectious diseases, healthcare-associated infections (HAIs) and cancers. BD Diagnostics’ principal products include integrated systems for specimen collection; safety-engineered blood collection products and systems; automated blood culturing systems; molecular testing systems for sexually transmitted diseases and HAIs; microorganism identification and drug susceptibility systems; liquid-based cytology systems for cervical cancer screening; rapid diagnostic assays, and plated media. BD Diagnostics serves hospitals, laboratories and clinics; reference laboratories; blood banks; healthcare workers; public health agencies; physicians’ office practices, and industrial and food microbiology laboratories.
BD Biosciences
BD Biosciences produces research and clinical tools that facilitate the study of cells, and the components of cells, to gain a better understanding of normal and disease processes. That information is used to aid the discovery and development of new drugs and vaccines, and to improve the diagnosis and management of diseases. BD Biosciences’ principal product lines include fluorescence-activated cell sorters and analyzers; monoclonal antibodies and kits for performing cell analysis; reagent systems for life science research; cell imaging systems; laboratory products for tissue culture and fluid handling; diagnostic assays, and cell culture media supplements for biopharmaceutical manufacturing. The primary customers served by BD Biosciences are research and clinical laboratories; academic and governmental institutions; pharmaceutical and biotechnology companies; hospitals, and blood banks.
In the late 1990s Becton, Dickinson was troubled by a spate of lawsuits arising from healthcare workers who had contracted blood-borne diseases using the company's conventional, unguarded needles and syringes. The suits alleged that safer needles had been available for years but Becton, Dickinson had not been promoting their use. For its part, the company said that it had invested more than $100 million into development of safer products, which were available for its customers to purchase, but it was up to the hospitals and medical centers to make the conversion. By decade's end, a shift to safer needles was clearly underway, in part due to government mandates at the state level.
During 1999 Edward J. Ludwig became president and CEO of Becton, Dickinson, with Castellini remaining chairman. The financial results for that year were a disappointment, stemming from weaker-than-expected sales in Europe and emerging markets and from an ailing home healthcare unit, which made such items as ear thermometers and blood pressure monitors. A restructuring was launched in the second half of the year that included the company's exit from the home healthcare sector. In addition, the company reorganized its remaining operations into three business segments: BD Medical Systems, BD Biosciences, and BD Preanalytical Solutions. Becton, Dickinson also began implementing a global brand strategy in which the 'BD' name would appear on all of the company's products, either alone or alongside such well-known brands as ACE, Vacutainer, and Tru-Fit. Becton, Dickinson ambitiously aimed to have its new 'BD' logo 'become as universally recognized worldwide as the Red Cross.' Becton, Dickinson thus headed into the new century with a new identity, a new structure, and a commitment to achieving a quick turnaround during what was certain to be an even more competitive period for medical device companies.
Principal Subsidiaries: BDX INO LLC; Becton Dickinson AcuteCare Holdings, Inc.; Becton Dickinson Asia Pacific Limited (British Virgin Islands); Becton Dickinson B.V. (Netherlands); Becton Dickinson Caribe, Ltd. (Cayman Islands); Becton Dickinson Infusion Therapy Holdings Inc.; Becton Dickinson Infusion Therapy Systems Inc.; Becton Dickinson Korea, Inc.; Becton Dickinson Korea Holding, Inc.; Becton Dickinson Malaysia, Inc.; Becton Dickinson (Mauritius) Limited; Becton Dickinson Medical Devices Co. Ltd., Suzhou (China; 99%); Becton Dickinson Medical Products Pte. Ltd. (Singapore); Becton Dickinson Monoclonal Center, Inc.; Becton Dickinson Overseas Services Ltd.; Becton Dickinson Pen Limited (Ireland); Becton Dickinson Service (Pvt.) Ltd. (Pakistan; 51%); Becton Dickinson Venture LLC; Becton, Dickinson and Company, Ltd. (Ireland); Becton, Dickinson B.V. (Netherlands); Becton Dickinson France, S.A.; Benex Ltd. (Ireland); Biometric Imaging, Inc.; Clontech Laboratories, Inc.; Critical Device Corporation; Collaborative Biomedical Products, Inc.; Difco Laboratories Incorporated; Franklin Lakes Enterprises, L.L.C.; IBD Holdings LLC (50%); Johnston Laboratories, Inc.; MDI Instruments, Inc.; Med-Safe Systems, Inc.; PharMingen; Saf-T-Med Inc.; Staged Diabetes Management L.L.C. (50%).
Principal Operating Units: BD Medical Systems; BD Biosciences; BD Preanalytical Solutions.
Principal Competitors: Abbott Laboratories; ALZA Corporation; American Home Products Corporation; Ballard Medical Products; Baxter International Inc.; Boston Scientific Corporation; Bristol-Myers Squibb Company; C.R. Bard, Inc.; Diagnostic Products Corporation; Isolyser Company, Inc.; Johnson & Johnson; Mallinckrodt Inc.; Maxxim Medical, Inc.; McKesson General Medical; Medical Action Industries Inc.; Medline Industries, Inc.; Novo Nordisk A/S; Pfizer Inc; Teleflex Corporation; Trinity Biotech Plc; United States Surgical Corporation; Vital Signs, Inc.
OVERALL
Beta: 0.57
Market Cap (Mil.): $19,002.61
Shares Outstanding (Mil.): 221.11
Annual Dividend: 1.64
Yield (%): 1.91
FINANCIALS
BDX Industry Sector
P/E (TTM): 16.52 5.56 40.56
EPS (TTM): 4.71 -- --
ROI: -- 2.56 1.91
ROE: -- 3.75 2.49
Statistics:
Public Company
Incorporated: 1906
Employees: 24,000
Sales: $3.42 billion (1999)
Stock Exchanges: New York
Ticker Symbol: BDX
NAIC: 339112 Surgical and Medical Instrument Manufacturing; 339113 Surgical Appliance and Supplies Manufacturing; 334516 Analytical Laboratory Instrument Manufacturing; 326199 All Other Plastics Product Manufacturing; 541710 Research and Development in the Physical, Engineering, and Life Sciences
Key Dates:
1897: Maxwell W. Becton and Fairleigh S. Dickinson form partnership.
1904: Philadelphia Surgical Company and Wigmore Company are acquired.
1906: Partnership is incorporated as Becton, Dickinson & Company; factory is built in East Rutherford, New Jersey.
1913: Surgical Supply Import Company is acquired.
1917: Sales reach $1 million.
1918: Company introduces the ACE bandage.
1921: Company acquires Physicians Specialty Company.
1924: Company begins making syringes designed specifically for insulin injection.
1925: Fairleigh Dickinson receives a patent for the Luer-Lok tip.
1943: Multifit, maker of a syringe with interchangeable parts, is acquired.
1948: Henry P. Becton and Fairleigh Dickinson, Jr., sons of the founders, assume managerial control of the company.
1949: Entry into diagnostic medicine with the patenting of the Evacutainer blood collection device.
1951: International expansion begins with the formation of a Canadian subsidiary.
1955: Baltimore Biological Laboratories is acquired, enlarging the firm's presence in the burgeoning market for disposable medical products.
1962: Company goes public.
1974: Wesley J. Howe is named president and CEO.
1978: Sun Oil Company acquires a 34 percent stake in the company.
1979: Becton, Dickinson and Sun reach agreement on the eventual disposal of Sun's stake.
1980s:Restructuring and disposal of noncore operations.
1989: Raymond V. Gilmartin is named CEO.
1994: Clateo Castellini is named chairman, CEO, and president.
1997: PharMingen Inc. and Difco Laboratories Incorporated are acquired.
1998: The Medical Devices Division of the BOC Group is acquired.
1999: Company reorganizes its operations into three business segments: BD Medical Systems, BD Biosciences, and BD Preanalytical Solutions; company launches a global brand strategy focusing on the 'BD' name.
Name Age Since Current Position
Ludwig, Edward 59 2009 Chairman of the Board, Chief Executive Officer
Forlenza, Vincent 57 2010 President, Chief Operating Officer
Elkins, David 42 2008 Chief Financial Officer, Executive Vice President
Cohen, Gary 51 2006 Executive Vice President
Kozy, William 58 2006 Executive Vice President
Bruder, Scott 48 2007 Senior Vice President, Chief Technology Officer
Sherman, Jeffrey 55 2006 Senior Vice President, General Counsel
Boles, Donna 57 2006 Senior Vice President - Human Resources
Shrader, Patricia 60 2006 Senior Vice President - Corporate Regulatory and External Affairs
Durack, David 65 2006 Senior Vice President - Corporate Medical Affairs
Warye, Kathy 2010 Vice President - Infection Prevention
Sommer, Alfred 68 1998 Director
Overlock, Willard 64 1999 Director
Orr, James 65 2000 Director
Scott, Bertram 59 2002 Director
Mecklenburg, Gary 63 2004 Director
Mahmoud, Adel 69 2006 Director
Larsen, Marshall 62 2007 Director
Minehan, Cathy 63 2007 Director
Becton, Henry 68 1987 Independent Director
DeGraan, Edward 67 2003 Independent Director
Anderson, Basil 66 2004 Independent Director
Fraser-Liggett, Claire 55 2006 Independent Director
Jones, Christopher 55 2010 Independent Director
Address:
One Becton Road
Franklin Lakes, New Jersey 07417-1880
U.S.A.