Becton Dickinson Lowers Fiscal Year Profit Target
May 09 2019 - 07:10AM
Dow Jones News
By Kimberly Chin
Becton, Dickinson and Co. (BDX) lowered its adjusted earnings
quarter for the year due to recent regulatory and market pressures
related to its paclitaxel-coated devices
Becton Dickinson now expects 2019 adjusted earnings between
$11.65 and $11.75, down from its previous guidance of $12.05 and
$12.15 a share.
In March, the Food and Drug Administration issued a letter
warning consumers against using paclitaxel-coated products in their
treatment of peripheral arterial disease. Their preliminary study
found that subjects treated with paclitazel-coated devices
wereabout 50% more at risk of mortality than devices without the
coating.
Shares of the medical device and technology company fell 3.2% in
premarket trading.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
May 09, 2019 06:55 ET (10:55 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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