FRANKLIN LAKES, N.J.,
May 7, 2020 /PRNewswire/ -- BD
(Becton, Dickinson and Company) (NYSE: BDX), a leading global
medical technology company, today reported quarterly revenues of
$4.253 billion for the second fiscal
quarter ended March 31, 2020. This represents an
increase of 1.4 percent as reported over the prior-year period, or
2.4 percent on a currency-neutral basis.
"As the world responds to the COVID-19 pandemic, BD is focused
on protecting the health and safety of our employees while
addressing the critical health needs of our customers and their
patients," said Tom Polen, CEO and
president. "We are extremely proud of our team for their impact
supporting healthcare providers on the front lines, launching
several new diagnostic offerings to identify COVID-19 and ramping
up production of essential medical devices. While our second
quarter results were slightly ahead of our prior expectations, we
are seeing the negative impact of coronavirus on certain parts of
our business. We are confident that our diversified portfolio and
the proactive actions we are taking will help us navigate these
current challenges while positioning BD well as we continue to
advance our long-term growth strategy."
Second Quarter and Six-Month Fiscal 2020 Operating
Results
As reported, diluted earnings per share for the
second quarter were $0.53, compared
with $(0.07) in the prior-year
period. This represents an increase of 857.1 percent, and is
primarily due to product liability reserves recorded in the prior
year period. Adjusted diluted earnings per share were
$2.55, compared with $2.59 in the prior-year period. This
represents a decrease in adjusted diluted earnings per share of 1.5
percent, or 1.9 percent on a currency-neutral basis.
For the six-month period ended March 31,
2020, as reported, diluted earnings per share were
$1.40, compared with $1.98 in the prior-year period. This represents a
decrease of 29.3 percent. Adjusted diluted earnings per share were
$5.20, compared with $5.29 in the prior-year period. This represents a
decrease in adjusted diluted earnings per share of 1.7 percent, or
1.1 percent on a currency-neutral basis.
Segment Results
In the BD Medical segment, as
reported, worldwide revenues for the quarter of $2.151 billion decreased 1.4 percent from the
prior-year period, or 0.3 percent on a currency-neutral
basis. The segment's results reflect strong growth in the
Pharmaceutical Systems and Diabetes Care units that was offset by
declines in the Medication Management Solutions and Medication
Delivery Solutions units. As anticipated, BD Medical
performance was impacted by the Alaris System remediation in the
Medication Management Solutions unit and the effects of
China's volume-based procurement
initiative in the Medication Delivery Solutions unit. The
segment's results also reflect the impact of the COVID-19 pandemic,
most notably in China where
hospital utilization declined significantly as the country
responded with a strict adherence to stay-at-home measures.
Within the BD Medical segment, the impact of coronavirus in
China was most notable in the
Medication Delivery Solutions unit. Conversely, demand for
critical healthcare products increased in the U.S. and Europe, and was most notable in the Medication
Delivery Solutions and Diabetes Care units.
For the six-month period ended March 31,
2020, BD Medical revenues were $4.241
billion as reported, which represents a decrease of 1.7
percent over the prior-year period, or 0.6 percent on a
currency-neutral basis.
In the BD Life Sciences segment, as reported, worldwide revenues
for the quarter of $1.113 billion
increased 5.8 percent over the prior-year period, or 7.1 percent on
a currency-neutral basis. Revenue growth was driven by strong
performance in the Diagnostic Systems and Preanalytical Systems
units. BD Life Sciences' growth was aided by flu-related
revenues in the Diagnostic Systems unit as a result of a stronger
flu season in comparison to the prior year as well as demand
related to COVID-19 testing. The segment's results also
reflect a tough comparison to the prior year in the Biosciences
unit driven by the timing of licensing revenues.
Additionally, results in the Biosciences unit reflect reduced
demand for instruments and reagents as research lab activity slowed
significantly during the COVID-19 pandemic.
For the six-month period ended March 31,
2020, BD Life Sciences revenues were $2.236 billion as reported, which represents an
increase of 6.1 percent from the prior-year period, or 7.3 percent
on a currency-neutral basis.
In the BD Interventional segment, as reported, worldwide
revenues for the quarter of $0.990
billion increased 2.8 percent over the prior-year period, or
3.3 percent on a currency-neutral basis. Revenue growth was
driven by solid performance in the Peripheral Intervention and
Urology and Critical Care units. BD Interventional results
were negatively impacted by decreased demand associated with the
deferral of elective medical procedures as a result of the COVID-19
pandemic, particularly within the Surgery and Peripheral
Intervention units.
For the six-month period ended March 31,
2020, BD Interventional revenues were $2.002 billion as reported, which represents an
increase of 3.6 percent over the prior-year period, or 4.1 percent
on a currency-neutral basis.
Geographic Results
As reported, second quarter
revenues in the U.S. of $2.415
billion increased 3.2 percent over the prior-year
period. Growth in the U.S. was driven by performance in the
Life Sciences and Interventional segments, partially offset by a
decline in the Medical segment that was primarily driven by lower
Alaris System sales, as anticipated.
As reported, revenues outside of the U.S. of $1.839 billion decreased 0.8 percent over the
prior-year period, and increased 1.5 percent on a currency-neutral
basis. International revenue growth was primarily driven by
strong performance in Europe and
Latin America, offset by a decline
in China.
For the six-month period ended March 31,
2020, U.S. revenues were $4.845
billion as reported, which represents an increase of 2.5
percent over the prior-year period. As reported, revenues
outside of the U.S. of $3.634 billion
increased 0.2 percent over the prior-year period, or 2.4 percent on
a currency-neutral basis.
Fiscal 2020 Outlook for Full Year
Due to ongoing uncertainty regarding the scope and duration of the
COVID-19 global pandemic, as well as the timing and pace of
recovery, the company is currently unable to estimate the impact to
its financial results and operations over the balance of fiscal
year 2020. As this impact could be material, the
company is withdrawing its previously issued fiscal year 2020
revenue and earnings per share guidance.
Conference Call Information
A conference call
regarding BD's second quarter results will be broadcast live on
BD's website, www.bd.com/investors, along with related slides,
at 8:00 a.m. (ET) Thursday,
May 7, 2020. The conference call will be available
for replay on BD's website, www.bd.com/investors, or at
1-800-585-8367 (domestic) and 1-404-537-3406 (international)
through the close of business on Thursday,
May 14, 2020, confirmation number 2189907.
Non-GAAP Financial Measures/Financial Tables
This news
release contains certain non-GAAP financial measures.
Reconciliations of these and other non-GAAP measures to the
comparable GAAP measures are included in the attached financial
tables. Within the attached financial tables presented,
certain columns and rows may not add due to the use of rounded
numbers. Percentages and earnings per share amounts presented
are calculated from the underlying amounts.
Current and prior-year adjusted diluted earnings per share
results exclude, among other things, the impact of purchase
accounting adjustments (including the non-cash amortization of
acquisition-related intangible assets); integration, restructuring
and transaction costs; transactional and product related impacts;
and the loss on debt extinguishment. We also provide these
measures on a currency-neutral basis after eliminating the effect
of foreign currency translation, where applicable. We
calculate foreign currency-neutral percentages by converting our
current-period local currency financial results using the prior
period foreign currency exchange rates and comparing these adjusted
amounts to our current-period results. Reconciliations of
these amounts to the most directly comparable GAAP measures are
included in the tables at the end of this release.
About BD
BD is one of the largest global medical
technology companies in the world and is advancing the world of
health by improving medical discovery, diagnostics and the delivery
of care. The company supports the heroes on the frontlines of
health care by developing innovative technology, services and
solutions that help advance both clinical therapy for patients and
clinical process for health care providers. BD and its 65,000
employees have a passion and commitment to help enhance the safety
and efficiency of clinicians' care delivery process, enable
laboratory scientists to accurately detect disease and advance
researchers' capabilities to develop the next generation of
diagnostics and therapeutics. BD has a presence in virtually every
country and partners with organizations around the world to address
some of the most challenging global health issues. By working in
close collaboration with customers, BD can help enhance outcomes,
lower costs, increase efficiencies, improve safety and expand
access to health care. For more information on BD, please visit
bd.com.
This press release, including the section entitled "Fiscal
2020 Outlook for Full Year", contains certain estimates and other
forward-looking statements (as defined under Federal securities
laws) regarding BD's performance, including future revenues and
earnings per share. All such statements are based upon
current expectations of BD and involve a number of business risks
and uncertainties. Actual results could vary materially from
anticipated results described, implied or projected in any
forward-looking statement. With respect to forward-looking
statements contained herein, a number of factors could cause actual
results to vary materially. These factors include, but are
not limited to risks relating to the COVID-19 pandemic on our
business (including decreases in the demand for our products or
disruptions to our operations and our supply chain); integration of
the C.R. Bard operations, products and employees into BD and the
possibility that the anticipated synergies and other benefits of
the proposed acquisition will not be realized or will not be
realized within the expected timeframe; new or changing laws and
regulations impacting our business (including the imposition of
tariffs or changes in laws impacting international trade) or
changes in enforcement practices with respect to such laws;
fluctuations in costs and availability of raw materials and in BD's
ability to maintain favorable supplier arrangements and
relationships; legislative or regulatory changes to the U.S. or
foreign healthcare systems, potential cuts in governmental
healthcare spending, or governmental or private measures to contain
healthcare costs, including changes in pricing and reimbursement
policies, each of which could result in reduced demand for our
products or downward pricing pressure; changes in interest or
foreign currency exchange rates; adverse changes in regional,
national or foreign economic conditions, particularly in emerging
markets, including any impact on our ability to access credit
markets and finance our operations, the demand for our products and
services, or our suppliers' ability to provide products needed for
our operations; the adverse impact of cyber-attacks on our
information systems or products; competitive factors including
technological advances and new products introduced by competitors;
interruptions in our supply chain or manufacturing processes;
pricing and market pressures; difficulties inherent in product
development, delays in product introductions and uncertainty of
market acceptance of new products; adverse changes in geopolitical
conditions; increases in energy costs and their effect on, among
other things, the cost of producing BD's products; product efficacy
or safety concerns resulting in product recalls or actions being
taken by the FDA or other regulators (including the potential
ongoing impact of the FDA letters regarding the use of drug-coated
balloons); our ability to successfully integrate any businesses we
acquire; uncertainties of litigation (as described in BD's filings
with the Securities and Exchange Commission); and issuance of new
or revised accounting standards, as well as other factors discussed
in BD's filings with the Securities and Exchange Commission.
We do not intend to update any forward-looking statements to
reflect events or circumstances after the date hereof except as
required by applicable laws or regulations.
BECTON DICKINSON AND
COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in millions, except share and per share
data)
|
|
|
|
Three Months Ended
March 31,
|
|
|
2020
|
|
2019
|
|
% Change
|
REVENUES
|
|
$
|
4,253
|
|
|
$
|
4,195
|
|
|
1.4
|
|
|
|
|
|
|
|
|
Cost of products
sold
|
|
2,520
|
|
|
2,221
|
|
|
13.4
|
|
Selling and
administrative expense
|
|
1,025
|
|
|
1,089
|
|
|
(5.9)
|
|
Research and
development expense
|
|
264
|
|
|
252
|
|
|
4.9
|
|
Acquisitions and
other restructurings
|
|
75
|
|
|
101
|
|
|
(25.9)
|
|
Other operating
expense, net
|
|
—
|
|
|
396
|
|
|
(100.0)
|
|
TOTAL OPERATING COSTS
AND EXPENSES
|
|
3,884
|
|
|
4,059
|
|
|
(4.3)
|
|
OPERATING
INCOME
|
|
370
|
|
|
136
|
|
|
171.5
|
|
|
|
|
|
|
|
|
Interest
expense
|
|
(134)
|
|
|
(171)
|
|
|
(21.7)
|
|
Interest
income
|
|
2
|
|
|
18
|
|
|
(89.1)
|
|
Other (expense)
income, net
|
|
(38)
|
|
|
20
|
|
|
(288.2)
|
|
INCOME BEFORE INCOME
TAXES
|
|
200
|
|
|
3
|
|
|
6,287.4
|
|
Income tax provision
(benefit)
|
|
17
|
|
|
(17)
|
|
|
200.4
|
|
NET INCOME
|
|
183
|
|
|
20
|
|
|
811.7
|
|
Preferred stock
dividends
|
|
(38)
|
|
|
(38)
|
|
|
—
|
|
NET INCOME (LOSS)
APPLICABLE TO COMMON SHAREHOLDERS
|
|
$
|
145
|
|
|
$
|
(18)
|
|
|
914.6
|
|
|
|
|
|
|
|
|
EARNINGS PER
SHARE
|
|
|
|
|
|
|
Basic Earnings (Loss)
per Share
|
|
$
|
0.53
|
|
|
$
|
(0.07)
|
|
|
857.1
|
|
Diluted Earnings
(Loss) per Share
|
|
$
|
0.53
|
|
|
$
|
(0.07)
|
|
|
857.1
|
|
|
|
|
|
|
|
|
AVERAGE SHARES
OUTSTANDING (in thousands)
|
|
|
|
|
|
|
Basic
|
|
272,014
|
|
269,882
|
|
|
Diluted
|
|
275,037
|
|
269,882
|
|
|
BECTON DICKINSON AND
COMPANY
CONSOLIDATED INCOME STATEMENTS
(Unaudited; Amounts in millions, except share and per share
data)
|
|
|
|
Six Months Ended
March 31,
|
|
|
2020
|
|
2019
|
|
% Change
|
REVENUES
|
|
$
|
8,479
|
|
|
$
|
8,355
|
|
|
1.5
|
|
|
|
|
|
|
|
|
Cost of products
sold
|
|
4,766
|
|
|
4,408
|
|
|
8.1
|
|
Selling and
administrative expense
|
|
2,146
|
|
|
2,161
|
|
|
(0.7)
|
|
Research and
development expense
|
|
535
|
|
|
510
|
|
|
4.9
|
|
Acquisitions and
other restructurings
|
|
161
|
|
|
191
|
|
|
(16.2)
|
|
Other operating
expense, net
|
|
—
|
|
|
61
|
|
|
(99.9)
|
|
TOTAL OPERATING COSTS
AND EXPENSES
|
|
7,607
|
|
|
7,332
|
|
|
3.8
|
|
OPERATING
INCOME
|
|
871
|
|
|
1,024
|
|
|
(14.9)
|
|
|
|
|
|
|
|
|
Interest
expense
|
|
(270)
|
|
|
(342)
|
|
|
(21.2)
|
|
Interest
income
|
|
3
|
|
|
6
|
|
|
(43.5)
|
|
Other (expense)
income, net
|
|
(11)
|
|
|
30
|
|
|
(135.1)
|
|
INCOME BEFORE INCOME
TAXES
|
|
594
|
|
|
718
|
|
|
(17.2)
|
|
Income tax
provision
|
|
134
|
|
|
98
|
|
|
36.3
|
|
NET INCOME
|
|
461
|
|
|
619
|
|
|
(25.7)
|
|
Preferred stock
dividends
|
|
(76)
|
|
|
(76)
|
|
|
—
|
|
NET INCOME APPLICABLE
TO COMMON SHAREHOLDERS
|
|
$
|
385
|
|
|
$
|
544
|
|
|
(29.2)
|
|
|
|
|
|
|
|
|
EARNINGS PER
SHARE
|
|
|
|
|
|
|
Basic Earnings per
Share
|
|
$
|
1.42
|
|
|
$
|
2.02
|
|
|
(29.7)
|
|
Diluted Earnings per
Share
|
|
$
|
1.40
|
|
|
$
|
1.98
|
|
|
(29.3)
|
|
|
|
|
|
|
|
|
AVERAGE SHARES
OUTSTANDING (in thousands)
|
|
|
|
|
|
|
Basic
|
|
271,555
|
|
269,454
|
|
|
Diluted
|
|
275,173
|
|
274,429
|
|
|
BECTON DICKINSON AND
COMPANY
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in millions)
|
|
|
|
March 31,
2020
|
|
September 30,
2019
|
|
|
(Unaudited)
|
|
|
ASSETS
|
|
|
|
|
Cash and
equivalents
|
|
$
|
2,351
|
|
|
$
|
536
|
|
Restricted
cash
|
|
88
|
|
|
54
|
|
Short-term
investments
|
|
6
|
|
|
30
|
|
Trade receivables,
net
|
|
2,160
|
|
|
2,345
|
|
Inventories
|
|
2,793
|
|
|
2,579
|
|
Prepaid expenses and
other
|
|
1,156
|
|
|
1,119
|
|
TOTAL CURRENT
ASSETS
|
|
8,555
|
|
|
6,664
|
|
Property, plant and
equipment, net
|
|
5,664
|
|
|
5,659
|
|
Goodwill and other
intangibles, net
|
|
37,788
|
|
|
38,354
|
|
Other
Assets
|
|
1,509
|
|
|
1,088
|
|
TOTAL
ASSETS
|
|
$
|
53,516
|
|
|
$
|
51,765
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
Short-term
debt
|
|
$
|
4,357
|
|
|
$
|
1,309
|
|
Other current
liabilities
|
|
4,398
|
|
|
4,345
|
|
Long-term
debt
|
|
16,809
|
|
|
18,081
|
|
Long-term employee
benefit obligations
|
|
1,253
|
|
|
1,272
|
|
Deferred income taxes
and other liabilities
|
|
5,747
|
|
|
5,676
|
|
Shareholders'
equity
|
|
20,951
|
|
|
21,081
|
|
TOTAL LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
$
|
53,516
|
|
|
$
|
51,765
|
|
BECTON DICKINSON AND
COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited; Amounts in millions)
|
|
|
|
Six Months Ended
March 31,
|
|
|
2020
|
|
2019
|
OPERATING
ACTIVITIES
|
|
|
|
|
Net income
|
|
$
|
461
|
|
|
$
|
619
|
|
Depreciation and
amortization
|
|
1,067
|
|
|
1,126
|
|
Change in operating
assets and liabilities and other, net
|
|
(332)
|
|
|
(718)
|
|
NET CASH PROVIDED BY
OPERATING ACTIVITIES
|
|
1,196
|
|
|
1,027
|
|
INVESTING
ACTIVITIES
|
|
|
|
|
Capital
expenditures
|
|
(395)
|
|
|
(362)
|
|
Proceeds from
divestitures, net
|
|
—
|
|
|
477
|
|
Other, net
|
|
(147)
|
|
|
(85)
|
|
NET CASH (USED FOR)
PROVIDED BY INVESTING
ACTIVITIES
|
|
(542)
|
|
|
30
|
|
FINANCING
ACTIVITIES
|
|
|
|
|
Change in credit
facility borrowings
|
|
210
|
|
|
—
|
|
Proceeds from
long-term debt and term loans
|
|
1,900
|
|
|
—
|
|
Payments of debt and
term loans
|
|
(305)
|
|
|
(905)
|
|
Dividends
paid
|
|
(505)
|
|
|
(491)
|
|
Other, net
|
|
(90)
|
|
|
(135)
|
|
NET CASH PROVIDED BY
(USED FOR) FINANCING
ACTIVITIES
|
|
1,210
|
|
|
(1,532)
|
|
Effect of exchange
rate changes on cash and equivalents
and restricted cash
|
|
(15)
|
|
|
5
|
|
NET INCREASE
(DECREASE) IN CASH AND
EQUIVALENTS AND RESTRICTED CASH
|
|
1,849
|
|
|
(469)
|
|
OPENING CASH AND
EQUIVALENTS AND
RESTRICTED CASH
|
|
590
|
|
|
1,236
|
|
CLOSING CASH AND
EQUIVALENTS AND
RESTRICTED CASH
|
|
$
|
2,439
|
|
|
$
|
767
|
|
BECTON DICKINSON AND
COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS - UNITED STATES
Three Months Ended March 31,
(Unaudited; Amounts in millions)
|
|
|
|
A
|
|
B
|
|
C=(A-B)/B
|
|
|
2020
|
|
2019
|
|
% Change
|
BD MEDICAL
|
|
|
|
|
|
|
Medication Delivery
Solutions (a)
|
|
$
|
518
|
|
|
$
|
482
|
|
|
7.6
|
|
Medication Management
Solutions (a)
|
|
449
|
|
|
499
|
|
|
(9.9)
|
|
Diabetes
Care
|
|
142
|
|
|
137
|
|
|
3.0
|
|
Pharmaceutical
Systems
|
|
91
|
|
|
93
|
|
|
(2.5)
|
|
TOTAL
|
|
$
|
1,200
|
|
|
$
|
1,211
|
|
|
(0.9)
|
|
|
|
|
|
|
|
|
BD LIFE
SCIENCES
|
|
|
|
|
|
|
Integrated Diagnostic
Solutions (b)
|
|
|
|
|
|
|
Preanalytical
Systems
|
|
$
|
208
|
|
|
$
|
171
|
|
|
21.6
|
|
Diagnostic
Systems
|
|
206
|
|
|
180
|
|
|
14.5
|
|
Total Integrated
Diagnostic Solutions
|
|
413
|
|
|
350
|
|
|
18.0
|
|
Biosciences
|
|
108
|
|
|
120
|
|
|
(9.8)
|
|
TOTAL
|
|
$
|
522
|
|
|
$
|
470
|
|
|
10.9
|
|
|
|
|
|
|
|
|
BD
INTERVENTIONAL
|
|
|
|
|
|
|
Surgery
(c)
|
|
$
|
249
|
|
|
$
|
242
|
|
|
3.0
|
|
Peripheral
Intervention (c)
|
|
242
|
|
|
225
|
|
|
7.4
|
|
Urology and Critical
Care (c)
|
|
202
|
|
|
193
|
|
|
5.1
|
|
TOTAL
|
|
$
|
693
|
|
|
$
|
659
|
|
|
5.1
|
|
|
|
|
|
|
|
|
TOTAL UNITED
STATES
|
|
$
|
2,415
|
|
|
$
|
2,341
|
|
|
3.2
|
|
|
(a)
The presentation of prior-period amounts reflects the
reclassification of $2 million associated with the movement,
effective on October 1, 2019, of certain products from
the
Medication
Delivery Solutions unit to the Medication Management Solutions
unit.
(b) Effective October 1, 2019, the Preanalytical
Systems and Diagnostic Systems units were joined to create the new
Integrated Diagnostic Solutions unit.
(c) The presentation of prior-period amounts
reflects the total reclassifications of $31 million associated with
the movement, effective on October 1, 2019, of certain products
from the
Surgery unit
and the Urology and Critical Care unit to the Peripheral
Intervention unit.
|
BECTON DICKINSON AND
COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS - INTERNATIONAL
Three Months Ended March 31, (continued)
(Unaudited; Amounts in millions)
|
|
|
|
|
|
|
|
|
|
D=(A-B)/B
|
|
E=(A-B-C)/B
|
|
|
A
|
|
B
|
|
C
|
|
% Change
|
|
|
2020
|
|
2019
|
|
FX Impact
|
|
Reported
|
|
FXN
|
BD MEDICAL
|
|
|
|
|
|
|
|
|
|
|
Medication Delivery
Solutions
|
|
$
|
386
|
|
|
$
|
446
|
|
|
$
|
(11)
|
|
|
(13.4)
|
|
|
(11.0)
|
|
Medication Management
Solutions
|
|
119
|
|
|
118
|
|
|
(3)
|
|
|
0.4
|
|
|
2.6
|
|
Diabetes
Care
|
|
137
|
|
|
133
|
|
|
(4)
|
|
|
2.8
|
|
|
5.5
|
|
Pharmaceutical
Systems
|
|
309
|
|
|
273
|
|
|
(7)
|
|
|
13.4
|
|
|
16.2
|
|
TOTAL
|
|
$
|
951
|
|
|
$
|
969
|
|
|
$
|
(24)
|
|
|
(1.9)
|
|
|
0.6
|
|
|
|
|
|
|
|
|
|
|
|
|
BD LIFE
SCIENCES
|
|
|
|
|
|
|
|
|
|
|
Integrated Diagnostic
Solutions (a)
|
|
|
|
|
|
|
|
|
|
|
Preanalytical
Systems
|
|
$
|
192
|
|
|
$
|
195
|
|
|
$
|
(6)
|
|
|
(1.6)
|
|
|
1.4
|
|
Diagnostic
Systems
|
|
228
|
|
|
209
|
|
|
(5)
|
|
|
9.0
|
|
|
11.5
|
|
Total Integrated
Diagnostic Solutions
|
|
420
|
|
|
404
|
|
|
(11)
|
|
|
3.9
|
|
|
6.6
|
|
Biosciences
|
|
172
|
|
|
177
|
|
|
(3)
|
|
|
(3.3)
|
|
|
(1.8)
|
|
TOTAL
|
|
$
|
591
|
|
|
$
|
582
|
|
|
$
|
(14)
|
|
|
1.7
|
|
|
4.0
|
|
|
|
|
|
|
|
|
|
|
|
|
BD
INTERVENTIONAL
|
|
|
|
|
|
|
|
|
|
|
Surgery
(b)
|
|
$
|
63
|
|
|
$
|
66
|
|
|
$
|
(1)
|
|
|
(4.8)
|
|
|
(3.1)
|
|
Peripheral
Intervention (b)
|
|
157
|
|
|
162
|
|
|
(3)
|
|
|
(2.8)
|
|
|
(0.8)
|
|
Urology and Critical
Care (b)
|
|
76
|
|
|
75
|
|
|
—
|
|
|
1.3
|
|
|
1.9
|
|
TOTAL
|
|
$
|
297
|
|
|
$
|
303
|
|
|
$
|
(5)
|
|
|
(2.2)
|
|
|
(0.6)
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
INTERNATIONAL
|
|
$
|
1,839
|
|
|
$
|
1,854
|
|
|
$
|
(43)
|
|
|
(0.8)
|
|
|
1.5
|
|
|
(a) Effective October 1,
2019, the Preanalytical Systems and Diagnostic Systems units were
joined to create the new Integrated Diagnostic Solutions unit.
(b) The presentation of prior-period
amounts reflects the total reclassifications of $13 million
associated with the movement, effective on October 1, 2019, of
certain products from the
Surgery
unit and the Urology and Critical Care unit to the Peripheral
Intervention unit.
|
BECTON DICKINSON AND
COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS - TOTAL
Three Months Ended March 31, (continued)
(Unaudited; Amounts in millions)
|
|
|
|
|
|
|
|
|
|
D=(A-B)/B
|
|
E=(A-B-C)/B
|
|
|
A
|
|
B
|
|
C
|
|
% Change
|
|
|
2020
|
|
2019
|
|
FX Impact
|
|
Reported
|
|
FXN
|
BD MEDICAL
|
|
|
|
|
|
|
|
|
|
|
Medication Delivery
Solutions (a)
|
|
$
|
904
|
|
|
$
|
928
|
|
|
$
|
(11)
|
|
|
(2.5)
|
|
|
(1.3)
|
|
Medication Management
Solutions (a)
|
|
568
|
|
|
617
|
|
|
(3)
|
|
|
(7.9)
|
|
|
(7.5)
|
|
Diabetes
Care
|
|
278
|
|
|
270
|
|
|
(4)
|
|
|
2.9
|
|
|
4.2
|
|
Pharmaceutical
Systems
|
|
400
|
|
|
366
|
|
|
(7)
|
|
|
9.4
|
|
|
11.4
|
|
TOTAL
|
|
$
|
2,151
|
|
|
$
|
2,180
|
|
|
$
|
(24)
|
|
|
(1.4)
|
|
|
(0.3)
|
|
|
|
|
|
|
|
|
|
|
|
|
BD LIFE
SCIENCES
|
|
|
|
|
|
|
|
|
|
|
Integrated Diagnostic
Solutions (b)
|
|
|
|
|
|
|
|
|
|
|
Preanalytical
Systems
|
|
$
|
400
|
|
|
$
|
366
|
|
|
$
|
(6)
|
|
|
9.3
|
|
|
10.8
|
|
Diagnostic
Systems
|
|
434
|
|
|
389
|
|
|
(5)
|
|
|
11.5
|
|
|
12.9
|
|
Total Integrated
Diagnostic Solutions
|
|
833
|
|
|
755
|
|
|
(11)
|
|
|
10.4
|
|
|
11.9
|
|
Biosciences
|
|
280
|
|
|
297
|
|
|
(3)
|
|
|
(5.9)
|
|
|
(5.0)
|
|
TOTAL
|
|
$
|
1,113
|
|
|
$
|
1,052
|
|
|
$
|
(14)
|
|
|
5.8
|
|
|
7.1
|
|
|
|
|
|
|
|
|
|
|
|
|
BD
INTERVENTIONAL
|
|
|
|
|
|
|
|
|
|
|
Surgery
(c)
|
|
$
|
312
|
|
|
$
|
308
|
|
|
$
|
(1)
|
|
|
1.4
|
|
|
1.7
|
|
Peripheral
Intervention (c)
|
|
399
|
|
|
387
|
|
|
(3)
|
|
|
3.1
|
|
|
4.0
|
|
Urology and Critical
Care (c)
|
|
279
|
|
|
268
|
|
|
—
|
|
|
4.1
|
|
|
4.2
|
|
TOTAL
|
|
$
|
990
|
|
|
$
|
963
|
|
|
$
|
(5)
|
|
|
2.8
|
|
|
3.3
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
REVENUES
|
|
$
|
4,253
|
|
|
$
|
4,195
|
|
|
$
|
(43)
|
|
|
1.4
|
|
|
2.4
|
|
|
(a) The presentation of
prior-period amounts reflects the reclassification of $2 million
associated with the movement, effective on October 1, 2019, of
certain products from the
Medication
Delivery Solutions unit to the Medication Management Solutions
unit.
(b) Effective October 1, 2019, the
Preanalytical Systems and Diagnostic Systems units were joined to
create the new Integrated Diagnostic Solutions unit.
(c) The presentation of prior-period
amounts reflects the total reclassifications of $45 million
associated with the movement, effective on October 1, 2019, of
certain products from the
Surgery
unit and the Urology and Critical Care unit to the Peripheral
Intervention unit.
|
BECTON DICKINSON AND
COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS - UNITED STATES
Six Months Ended March 31,
(Unaudited; Amounts in millions)
|
|
|
|
A
|
|
B
|
|
C=(A-B)/B
|
|
|
2020
|
|
2019
|
|
% Change
|
BD MEDICAL
|
|
|
|
|
|
|
Medication Delivery
Solutions (a)
|
|
$
|
1,038
|
|
|
$
|
1,000
|
|
|
3.7
|
|
Medication Management
Solutions (a)
|
|
912
|
|
|
1,007
|
|
|
(9.4)
|
|
Diabetes
Care
|
|
281
|
|
|
282
|
|
|
(0.7)
|
|
Pharmaceutical
Systems
|
|
174
|
|
|
161
|
|
|
8.3
|
|
TOTAL
|
|
$
|
2,404
|
|
|
$
|
2,450
|
|
|
(1.9)
|
|
|
|
|
|
|
|
|
BD LIFE
SCIENCES
|
|
|
|
|
|
|
Integrated Diagnostic
Solutions (b)
|
|
|
|
|
|
|
Preanalytical
Systems
|
|
$
|
410
|
|
|
$
|
371
|
|
|
10.3
|
|
Diagnostic
Systems
|
|
390
|
|
|
355
|
|
|
9.9
|
|
Total Integrated
Diagnostic Solutions
|
|
799
|
|
|
726
|
|
|
10.1
|
|
Biosciences
|
|
260
|
|
|
228
|
|
|
14.0
|
|
TOTAL
|
|
$
|
1,060
|
|
|
$
|
954
|
|
|
11.0
|
|
|
|
|
|
|
|
|
BD
INTERVENTIONAL
|
|
|
|
|
|
|
Surgery
(c)
|
|
$
|
505
|
|
|
$
|
488
|
|
|
3.6
|
|
Peripheral
Intervention (c)
|
|
467
|
|
|
448
|
|
|
4.3
|
|
Urology and Critical
Care (c)
|
|
409
|
|
|
388
|
|
|
5.5
|
|
TOTAL
|
|
$
|
1,381
|
|
|
$
|
1,323
|
|
|
4.4
|
|
|
|
|
|
|
|
|
TOTAL UNITED
STATES
|
|
$
|
4,845
|
|
|
$
|
4,728
|
|
|
2.5
|
|
|
(a) The presentation of
prior-period amounts reflects the reclassification of $3 million
associated with the movement, effective on October 1, 2019, of
certain products from the
Medication
Delivery Solutions unit to the Medication Management Solutions
unit.
(b) Effective October 1, 2019, the
Preanalytical Systems and Diagnostic Systems units were joined to
create the new Integrated Diagnostic Solutions unit.
(c) The presentation of prior-period
amounts reflects the total reclassifications of $63 million
associated with the movement, effective on October 1, 2019, of
certain products from the
Surgery
unit and the Urology and Critical Care unit to the Peripheral
Intervention unit.
|
BECTON DICKINSON AND
COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS - INTERNATIONAL
Six Months Ended March 31, (continued)
(Unaudited; Amounts in millions)
|
|
|
|
|
|
|
|
|
D=(A-B)/B
|
|
E=(A-B-C)/B
|
|
|
A
|
|
B
|
|
C
|
|
% Change
|
|
|
2020
|
|
2019
|
|
FX Impact
|
|
Reported
|
|
FXN
|
BD MEDICAL
|
|
|
|
|
|
|
|
|
|
|
Medication Delivery
Solutions
|
|
$
|
814
|
|
|
$
|
883
|
|
|
$
|
(21)
|
|
|
(7.8)
|
|
|
(5.4)
|
|
Medication Management
Solutions
|
|
231
|
|
|
236
|
|
|
(6)
|
|
|
(1.8)
|
|
|
0.7
|
|
Diabetes
Care
|
|
266
|
|
|
261
|
|
|
(6)
|
|
|
1.7
|
|
|
4.0
|
|
Pharmaceutical
Systems
|
|
525
|
|
|
485
|
|
|
(14)
|
|
|
8.2
|
|
|
11.1
|
|
TOTAL
|
|
$
|
1,836
|
|
|
$
|
1,865
|
|
|
$
|
(47)
|
|
|
(1.6)
|
|
|
1.0
|
|
|
|
|
|
|
|
|
|
|
|
|
BD LIFE
SCIENCES
|
|
|
|
|
|
|
|
|
|
|
Integrated Diagnostic
Solutions (a)
|
|
|
|
|
|
|
|
|
|
|
Preanalytical
Systems
|
|
$
|
388
|
|
|
$
|
387
|
|
|
$
|
(10)
|
|
|
0.3
|
|
|
2.9
|
|
Diagnostic
Systems
|
|
446
|
|
|
416
|
|
|
(9)
|
|
|
7.2
|
|
|
9.3
|
|
Total Integrated
Diagnostic Solutions
|
|
834
|
|
|
803
|
|
|
(19)
|
|
|
3.9
|
|
|
6.2
|
|
Biosciences
|
|
342
|
|
|
350
|
|
|
(6)
|
|
|
(2.3)
|
|
|
(0.6)
|
|
TOTAL
|
|
$
|
1,176
|
|
|
$
|
1,153
|
|
|
$
|
(25)
|
|
|
2.0
|
|
|
4.1
|
|
|
|
|
|
|
|
|
|
|
|
|
BD
INTERVENTIONAL
|
|
|
|
|
|
|
|
|
|
|
Surgery
(b)
|
|
$
|
133
|
|
|
$
|
130
|
|
|
$
|
(2)
|
|
|
2.2
|
|
|
4.0
|
|
Peripheral
Intervention (b)
|
|
327
|
|
|
321
|
|
|
(7)
|
|
|
1.8
|
|
|
4.0
|
|
Urology and Critical
Care (b)
|
|
161
|
|
|
158
|
|
|
(1)
|
|
|
2.1
|
|
|
2.4
|
|
TOTAL
|
|
$
|
621
|
|
|
$
|
609
|
|
|
$
|
(10)
|
|
|
2.0
|
|
|
3.6
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
INTERNATIONAL
|
|
$
|
3,634
|
|
|
$
|
3,628
|
|
|
$
|
(82)
|
|
|
0.2
|
|
|
2.4
|
|
|
(a) Effective October
1, 2019, the Preanalytical Systems and Diagnostic Systems units
were joined to create the new Integrated Diagnostic Solutions
unit.
(b) The presentation of prior-period
amounts reflects the total reclassifications of $28 million
associated with the movement, effective on October 1, 2019, of
certain products from the
Surgery
unit and the Urology and Critical Care unit to the Peripheral
Intervention unit.
|
BECTON DICKINSON AND
COMPANY
SUPPLEMENTAL REVENUE INFORMATION
REVENUES BY BUSINESS SEGMENTS AND UNITS - TOTAL
Six Months Ended March 31, (continued)
(Unaudited; Amounts in millions)
|
|
|
|
|
|
|
|
|
|
D=(A-B)/B
|
|
E=(A-B-C)/B
|
|
|
A
|
|
B
|
|
C
|
|
% Change
|
|
|
2020
|
|
2019
|
|
FX Impact
|
|
Reported
|
|
FXN
|
BD MEDICAL
|
|
|
|
|
|
|
|
|
|
|
Medication Delivery
Solutions (a)
|
|
$
|
1,852
|
|
|
$
|
1,884
|
|
|
$
|
(21)
|
|
|
(1.7)
|
|
|
(0.6)
|
|
Medication Management
Solutions (a)
|
|
1,143
|
|
|
1,242
|
|
|
(6)
|
|
|
(8.0)
|
|
|
(7.5)
|
|
Diabetes
Care
|
|
547
|
|
|
544
|
|
|
(6)
|
|
|
0.5
|
|
|
1.6
|
|
Pharmaceutical
Systems
|
|
699
|
|
|
646
|
|
|
(14)
|
|
|
8.3
|
|
|
10.4
|
|
TOTAL
|
|
$
|
4,241
|
|
|
$
|
4,316
|
|
|
$
|
(47)
|
|
|
(1.7)
|
|
|
(0.6)
|
|
|
|
|
|
|
|
|
|
|
|
|
BD LIFE
SCIENCES
|
|
|
|
|
|
|
|
|
|
|
Integrated Diagnostic
Solutions (b)
|
|
|
|
|
|
|
|
|
|
|
Preanalytical
Systems
|
|
$
|
798
|
|
|
$
|
758
|
|
|
$
|
(10)
|
|
|
5.2
|
|
|
6.5
|
|
Diagnostic
Systems
|
|
835
|
|
|
771
|
|
|
(9)
|
|
|
8.4
|
|
|
9.6
|
|
Total Integrated
Diagnostic Solutions
|
|
1,633
|
|
|
1,529
|
|
|
(19)
|
|
|
6.8
|
|
|
8.1
|
|
Biosciences
|
|
603
|
|
|
579
|
|
|
(6)
|
|
|
4.1
|
|
|
5.2
|
|
TOTAL
|
|
$
|
2,236
|
|
|
$
|
2,108
|
|
|
$
|
(25)
|
|
|
6.1
|
|
|
7.3
|
|
|
|
|
|
|
|
|
|
|
|
|
BD
INTERVENTIONAL
|
|
|
|
|
|
|
|
|
|
|
Surgery
(c)
|
|
$
|
638
|
|
|
$
|
618
|
|
|
$
|
(2)
|
|
|
3.3
|
|
|
3.7
|
|
Peripheral
Intervention (c)
|
|
794
|
|
|
769
|
|
|
(7)
|
|
|
3.3
|
|
|
4.2
|
|
Urology and Critical
Care (c)
|
|
570
|
|
|
545
|
|
|
(1)
|
|
|
4.5
|
|
|
4.6
|
|
TOTAL
|
|
$
|
2,002
|
|
|
$
|
1,932
|
|
|
$
|
(10)
|
|
|
3.6
|
|
|
4.1
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
REVENUES
|
|
$
|
8,479
|
|
|
$
|
8,355
|
|
|
$
|
(82)
|
|
|
1.5
|
|
|
2.5
|
|
|
(a) The presentation of
prior-period amounts reflects the reclassification of $3 million
associated with the movement, effective on October 1, 2019, of
certain products from the Medication Delivery Solutions unit to
the
Medication Management Solutions unit.
(b) Effective October 1, 2019, the
Preanalytical Systems and Diagnostic Systems units were joined to
create the new Integrated Diagnostic Solutions unit.
(c) The presentation of prior-period
amounts reflects the total reclassifications of $90 million
associated with the movement, effective on October 1, 2019, of
certain products from the
Surgery
unit and the Urology and Critical Care unit to the Peripheral
Intervention unit.
|
BECTON DICKINSON AND
COMPANY
SUPPLEMENTAL INFORMATION
RECONCILIATION OF REPORTED DILUTED EPS TO ADJUSTED DILUTED EPS
(Unaudited)
|
|
|
|
Three Months Ended
March 31,
|
|
|
2020
|
|
2019
|
|
Growth
|
|
Foreign
Currency
Translation
|
|
Foreign
Currency
Neutral
Growth
|
|
Growth %
|
|
Foreign
Currency
Neutral
Growth %
|
Reported Diluted
Earnings (Loss) per Share
|
|
$
|
0.53
|
|
|
$
|
(0.07)
|
|
|
$
|
0.60
|
|
|
$
|
0.01
|
|
|
$
|
0.59
|
|
|
857.1
|
%
|
|
842.9
|
%
|
Purchase accounting
adjustments ($340 million and $379 million pre-tax, respectively)
(1)
|
|
1.24
|
|
|
1.40
|
|
|
|
|
—
|
|
|
|
|
|
|
|
Integration costs
($57 million and $70 million pre-tax, respectively)
(2)
|
|
0.21
|
|
|
0.26
|
|
|
|
|
—
|
|
|
|
|
|
|
|
Restructuring costs
($18 million and $31 million pre-tax, respectively)
(2)
|
|
0.07
|
|
|
0.12
|
|
|
|
|
—
|
|
|
|
|
|
|
|
European regulatory
initiative-related costs ($27 million and $10 million pre-tax,
respectively) (3)
|
|
0.10
|
|
|
0.04
|
|
|
|
|
—
|
|
|
|
|
|
|
|
Transaction gain/loss
and product-related matters ($199 million and $396 million
pre-tax,
respectively) (4)
|
|
0.72
|
|
|
1.47
|
|
|
|
|
—
|
|
|
|
|
|
|
|
Investment
gains/losses and asset impairments ($40 million pre-tax)
(5)
|
|
0.14
|
|
|
—
|
|
|
|
|
—
|
|
|
|
|
|
|
|
Transaction costs ($1
million pre-tax) (2)
|
|
—
|
|
|
—
|
|
|
|
|
—
|
|
|
|
|
|
|
|
Impacts of debt
extinguishment ($1 million pre-tax)
|
|
—
|
|
|
—
|
|
|
|
|
—
|
|
|
|
|
|
|
|
Dilutive Impact
(6)
|
|
—
|
|
|
(0.04)
|
|
|
|
|
—
|
|
|
|
|
|
|
|
Income tax benefit of
special items and impact of tax reform ($(124) million and
$(160)
million, respectively)
|
|
(0.45)
|
|
|
(0.59)
|
|
|
|
|
—
|
|
|
|
|
|
|
|
Adjusted Diluted
Earnings per Share
|
|
$
|
2.55
|
|
|
$
|
2.59
|
|
|
$
|
(0.04)
|
|
|
$
|
0.01
|
|
|
$
|
(0.05)
|
|
|
(1.5)
|
%
|
|
(1.9)
|
%
|
|
(1) Includes amortization and
other adjustments related to the purchase accounting for
acquisitions impacting identified intangible assets and valuation
of fixed assets and debt.
(2) Represents integration, restructuring
and transaction costs associated with acquisitions.
(3) Represents initial costs required to
develop processes and systems to comply with emerging regulations
such as the European Union Medical Device Regulation ("EUMDR")
and
General
Data Protection Regulation ("GDPR").
(4) The current-period amount represents a
probable estimate of future costs associated with incremental
product remediation efforts which was recorded in Cost of
products sold. The
prior-period
amount includes amounts recorded to Other operating expense,
net to record product liability reserves of $331 million and
the estimated cumulative costs of a product
recall
of $65 million.
(5) Primarily represents a charge recorded
to write down the carrying value of certain intangible assets in
the Biosciences unit.
(6) Represents the exclusion of share
equivalents associated with share-based plans from the reported
diluted shares outstanding calculation because such equivalents
would have been
antidilutive
due to the net loss applicable to common shareholders incurred
during the period. The adjusted diluted average shares
outstanding (in thousands) were 274,287.
|
BECTON DICKINSON AND
COMPANY
SUPPLEMENTAL INFORMATION
RECONCILIATION OF REPORTED DILUTED EPS TO ADJUSTED DILUTED EPS
(Unaudited)
|
|
|
|
Six Months Ended
March 31,
|
|
|
2020
|
|
2019
|
|
Growth
|
|
Foreign
Currency
Translation
|
|
Foreign
Currency
Neutral
Growth
|
|
Growth %
|
|
Foreign
Currency
Neutral
Growth %
|
Reported Diluted
Earnings per Share
|
|
$
|
1.40
|
|
|
$
|
1.98
|
|
|
$
|
(0.58)
|
|
|
$
|
(0.03)
|
|
|
$
|
(0.55)
|
|
|
(29.3)
|
%
|
|
(27.8)
|
%
|
Purchase accounting
adjustments ($688 million and $757 million pre-tax, respectively)
(1)
|
|
2.50
|
|
|
2.76
|
|
|
|
|
—
|
|
|
|
|
|
|
|
Integration costs
($119 million and $143 million pre-tax, respectively)
(2)
|
|
0.43
|
|
|
0.52
|
|
|
|
|
—
|
|
|
|
|
|
|
|
Restructuring costs
($41 million and $72 million pre-tax, respectively)
(2)
|
|
0.15
|
|
|
0.26
|
|
|
|
|
—
|
|
|
|
|
|
|
|
European regulatory
initiative-related costs ($44 million and $15 million pre-tax,
respectively) (3)
|
|
0.16
|
|
|
0.05
|
|
|
|
|
—
|
|
|
|
|
|
|
|
Transaction gain/loss
and product-related matters ($258 million and $61 million
pre-tax,
respectively) (4)
|
|
0.94
|
|
|
0.22
|
|
|
|
|
—
|
|
|
|
|
|
|
|
Investment
gains/losses and asset impairments ($41 million pre-tax)
(5)
|
|
0.15
|
|
|
—
|
|
|
|
|
—
|
|
|
|
|
|
|
|
Transaction costs ($2
million pre-tax) (2)
|
|
—
|
|
|
0.01
|
|
|
|
|
—
|
|
|
|
|
|
|
|
Impacts of debt
extinguishment ($1 million pre-tax)
|
|
—
|
|
|
—
|
|
|
|
|
—
|
|
|
|
|
|
|
|
Income tax benefit of
special items and impact of tax reform ($(146) million and
$(143) million, respectively)
(6)
|
|
(0.53)
|
|
|
(0.52)
|
|
|
|
|
—
|
|
|
|
|
|
|
|
Adjusted Diluted
Earnings per Share
|
|
$
|
5.20
|
|
|
$
|
5.29
|
|
|
$
|
(0.09)
|
|
|
$
|
(0.03)
|
|
|
$
|
(0.06)
|
|
|
(1.7)
|
%
|
|
(1.1)
|
%
|
|
(1) Includes amortization and
other adjustments related to the purchase accounting for
acquisitions impacting identified intangible assets and valuation
of fixed assets and debt.
(2) Represents integration, restructuring
and transaction costs associated with acquisitions.
(3) Represents initial costs required to
develop processes and systems to comply with emerging regulations
such as the EUMDR and GDPR.
(4) The current-period amount represents a
probable estimate of future costs associated with product
remediation efforts which was recorded in Cost of products
sold. The prior-period
amount
includes amounts recorded to Other operating expense, net to
record product liability reserves of $331 million and the estimated
cumulative costs of a product recall of $65
million,
as well as the pre-tax gain of $335 million related to BD's sale of
its Advanced Bioprocessing business.
(5) Primarily represents a charge recorded
to write down the carrying value of certain intangible assets in
the Biosciences unit.
(6) The amount for the six months ended
March 31, 2019 included additional tax expense, net, of $20 million
relating to new U.S. tax legislation.
|
Contact:
Monique N. Dolecki, Investor
Relations - 201-847-5378
Kristen Cardillo, Corporate
Communications - 201-847-5657
View original
content:http://www.prnewswire.com/news-releases/bd-announces-results-for-2020-second-fiscal-quarter-withdraws-fiscal-year-2020-guidance-due-to-covid-19-pandemic-301054531.html
SOURCE BD (Becton, Dickinson and Company)