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On November 9, 2023, BD (NYSE: BDX), a global leading medical technology company, announced its fourth-quarter financial report and annual performance.The Fourth QuarterTotal revenue was $5.1 billion,An increase of 6.8% year-over-year;Revenue for the fiscal year 2023 was $19.4 billion, an increase of 2.7% year-on-year.# Financial Performance in the Fourth QuarterThe Fourth QuarterTotal revenue was $5.1 billion,An increase of 6.8% year-on-year.Fourth Quarter Base Business Revenue (Excluding COVID Diagnostic Testing) Increased by 7.3% Year-over-Year.BD has a total of three major business units, which areBD Medical, BD Life Sciences, BD Interventional。Among themThe Fourth Quarter,BD MedicalRevenue$2.554 billion, year-on-year growth7.5%；BDLife Science Revenue$13.30 billion, year-on-year growth3.3%；BD InterventionRevenue of $1.203 billion, a year-on-year increase of 9.6%%。At the regional level, BD's revenue in the U.S. for the fourth quarter was $2.879 billion, representing a year-over-year increase of 6.3%; while revenue from international regions amounted to $2.209 billion, marking a year-over-year growth of 7.6%.In summary, the company has achieved positive revenue growth globally.BD Medical Business Analysis:BD Medical's revenue in the fourth quarter was $2.554 billion, a year-on-year increase of 7.5%.
BDHealthcare is divided into three major segments: Medication Delivery Solutions (MDS), Medication Management Solutions (MMS), and Pharmaceutical Systems (PS).BDThe growth of the medical business was mainly driven by the strong growth of MMS and PS.MDS：MDS's business performance has been impacted by the dynamics of the Chinese market, including a market slowdown caused by volume-based procurement. The company's strong performance in catheter solutions, driven by the continued execution of its vascular access management strategy in North America and Europe, partially offset the weak momentum in the Chinese market.MMS：The growth of MMS business is attributed to the optimization of the dispensing process by Pyxis™, which focuses on improving workflow and efficiency, and the ROWA™ solution, which helps pharmacies address the issues of rising costs and labor shortages.Pyxis™ Medication Dispensing SolutionsPS：The growth of PS business is due to the strong demand for pre-filled solutions for biologics (e.g., Hypak™) and innovative products (e.g., Neopak™), as well as the impact of the slowdown in the export of anticoagulants in China.BD Interventional Business Analysis:BD InterventionThe Fourth QuarterRevenue was $1.203 billion, a year-on-year increase of 9.7%.The interventional departments include Surgery, Peripheral Intervention (PI), and Urology & Critical Care (UCC) business units. The performance of the interventional business has been driven by robust growth across the entire细分 market.Surgery：Significant growth was achieved in the fields of advanced repair and reconstruction, as well as infection prevention. The former benefited from the continued adoption of the Phasix™ Absorbable Hernia Scaffold in the market, while the latter saw strong demand for ChloraPrep™ products. The division's performance also reflects the impact of divesting the surgical instrumentation platform. (Review:$540 Million! Medical Giant Sells This Business）PI：The widespread adoption of the Rotarex™ atherectomy system worldwide has driven the company's growth in the peripheral vascular disease space. The company’s venous product portfolio in China demonstrated strong performance. Following the implementation of a new ERP system in fiscal year 2022, supply and distribution stability improved across Europe, the Middle East, and Africa.UUC：The company has achieved growth in the chronic urinary incontinence sector through the widespread adoption of the PureWick™ solution in acute and alternative care settings. Additionally, market development has driven growth in targeted temperature management and urology, with increased sales of the Aptra™ digital endoscopy system.PureWick™ Urine Collection System with BatteryBDLife Sciences Business Analysis:BD Life Sciences' revenue in the fourth quarter was $1.33 billion, a year-on-year increase of 3.3%.The Life Sciences segment includes the Integrated Diagnostic Solutions (IDS) and Biosciences (BDB) businesses. The performance of BD Life Sciences reflects solid growth in the base business, offset by the decline in COVID-19 testing revenue.IDS：Reflects the high single-digit growth of the company's microbiology platform, driven by Kiestra.™ Total Modular Track solution, driven by the strong installation base of ID/AST and the continued robust growth of molecular IVD testing built on the BD COR™ and BD Max™ systems.Kiestra™ Total Lab Automation (TLA) SystemBDB：CompanyBD's Leadership in Flow Cytometry Continues, with Strong Demand for the FACSDiscover™ S8 Cell Sorter Driving Double-Digit Growth in the Business. Additionally, the Increasing Installations of the FACSLyric™ Analyzer and FACSDuet™ Automation System Are Boosting the Demand for Clinical Reagents.FACSDiscover™ S8 Cell Sorter# Financial Performance in FY2023BD's Fiscal Year 2023 Revenue Was $19.4 Billion, a year-on-year increase of 2.7%, with core business revenue in fiscal year 23 growing by 5.1% year-on-year.Company2024A financial guidance plan was formulated for the fiscal year, with forecasts expected in2024The fiscal year sets the organic revenue growth rate (which refers to the growth achieved through the intrinsic expansion of the company's existing business, without considering acquisitions, mergers, or other external factors) at5.75%, this figure is in5.25%To6.25%Determined on the basis of the midpoint of the range.At the same time, the company announced that in2024The year will mark the consecutive52Increase dividends annually.# Recent Business and ESG* Focus of the Company
Pharmaceutical Management Solutions Department（MMS）BD Alaris™ Infusion System Upgrade Began Distribution at the End of September to Ensure Improved Product Quality and Performance.Drug Delivery Solutions Division（MDS）Advanced the company's "One-needle Hospitalization" plan by launching the next generation of needle-free blood drawing technology (Review:BD: Launches Next-Generation Needle-Free Blood Collection Technology). The upgraded version of the PIVO™ needle-free blood collection device has received FDA 510(k) approval, and the design of the device has been improved.Currently, it is the only product on the market that is compatible with integrated peripheral venous long catheters.can also be used with Nexiva, another product under BD.™ Single-use Anti-Needlestick Intravenous Catheter and NearPort™ Infusion Adapter, when used together, can bring higher standards of care to more hospitals in the United States.FDA 510(k) Clearance Granted for Respiratory Virus Kit on MAX™ System by Integrated Diagnostic Solutions. This is a single molecular diagnostic panel test capable of identifying and differentiating COVID-19, Influenza A/B, and RSV.Peripheral Intervention Business Unit Initiates Research on BD Liverty™ Transjugular Intrahepatic Portosystemic Shunt (TIPS) Covered Stent to Reduce Complications Associated with Portal Hypertension and Enrolls First Patient in ARCH Study.*ESG：Environment, Social, and GovernanceBD Chairman, CEO and President Tom Polen said, "By executing our BD2025 strategy and differentiated medical technology portfolio through our excellent team, we have achieved another strong quarter and year. These technologies are improving healthcare efficiency and enhancing the lives of patients worldwide." "Looking ahead, continued execution of our category leadership strategy in high-growth markets, advancement of our robust innovation pipeline, and delivery according to our simplification plan will enable us to achieve sustainable growth in fiscal year 2024 and beyond."
Becton, Dickinson and Company (BD), founded in New York in 1897, is headquartered in Franklin Lakes, New Jersey, USA. BD has 65,000 employees worldwide and currently operates through three main business segments: Medical, Interventional Products, and Life Sciences.
The company advances clinical therapies for patients and clinical processes for healthcare providers by developing innovative technologies, services and solutions to support the frontline workers in healthcare. BD has offices in nearly every country around the world and partners with organizations globally to address some of the most challenging global health issues with over 75,000 employees worldwide.
Editor-in-Chief | Zhao Qing Reviewed by | Yi He Typeset by | Miya
