⁍ Becton Dickinson and Co said on Thursday it was on track to make 1 billion syringes in the next 12-18 months.
⁍ The medical device maker reported quarterly revenue below estimates, sending its shares down nearly 9%.
⁍ In recent months, Becton has received orders for millions of its syringes and needles from the United States, UK and Canada.
– Pandemics are making a lot of people want to get their syringes and needles. Becton Dickinson says it has received orders for 470 million syringes and needles from the US, UK, and Canada, and expects to deliver most of them by 2021, Reuters reports. The company says it is on track to make a total of 1 billion syringes in the next 12 to 18 months to meet the increased demand for COVID-19, a vaccine for the H7N9 strain of the virus. Last month, the European Union warned its member states of the risk of shortages of syringes, wipes, and protective gear needed for potential mass vaccinations against COVID-19 and urged them to consider joint procurement. Becton said it was also working to ensure supply for its routine orders such as for annual flu vaccination programs were not disrupted, amid a surge in demand for syringes for pandemic response. In recent months, Becton has received orders for millions of its syringes and needles from the United States, UK, and Canada, as they prepare for their pandemic response, and the pipeline is growing further, the company said. The company on Thursday reported a fall in quarterly revenue that missed estimates, as delayed elective procedures during coronavirus-led lockdowns squeezed demand for some of its devices. Sales fell 11.4% to $3.86 billion, compared with the average analyst estimate of $3.94 billion. Shares of the company were trading at $258.50 on Thursday.
Source: https://www.reuters.com/article/us-bectondickinson-results/becton-on-track-to-make-one-billion-syringes-to-help-covid-19-vaccination-idUSKCN2521FT