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BD Announces Results For 2011 Third Fiscal Quarter

FRANKLIN LAKES, N.J., Aug. 2, 2011 /PRNewswire via COMTEX/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today reported quarterly revenues of $2.014 billion for the third fiscal quarter ended June 30, 2011, representing an increase of 10.0 percent from the prior-year period. On a foreign currency-neutral basis, revenues increased 4.8 percent.

"We are pleased with our solid results this quarter, with all three segments contributing to growth," said Edward J. Ludwig, Chairman and Chief Executive Officer. "Gross margin expansion reflecting favorable product mix has offset some of the headwinds we have been facing as a result of a challenging macroeconomic environment and increased raw material costs."

Agreement to Acquire Carmel Pharma, AB

On July 27, 2011, the Company announced that it had signed a definitive agreement to acquire Carmel Pharma, AB, a Swedish company that manufactures the PhaSeal® System. This is the leading closed-system drug transfer device for the safe handling of hazardous drugs that are packaged in vials. The acquisition is expected to close prior to the end of this fiscal year.

Third Quarter and Nine-Month Fiscal 2011 Operating Results

Reported diluted earnings per share from continuing operations for the third quarter were $1.51, compared with $1.23 in the prior-year period, representing a 22.8 percent increase, or 13.8 percent on a currency-neutral basis.

For the nine-month period ending June 30, 2011, reported diluted earnings per share from continuing operations were $4.23, compared with $3.66 in the prior-year period. The prior-year period included a non-cash charge of $8.9 million, or $0.04 per share, related to healthcare reform impacting Medicare Part D reimbursements. Excluding that item, earnings per share from continuing operations increased by 14.3 percent, compared with adjusted diluted earnings per share from continuing operations of $3.70 in the prior-year period, or 8.1 percent on a currency-neutral basis.

Segment Results

In the BD Medical segment, worldwide revenues for the quarter were $1.045 billion, representing an increase of 10.5 percent compared with the prior-year period, or 4.9 percent on a foreign currency-neutral basis. Revenues reflected strong sales of Pharmaceutical Systems products and international safety, along with solid sales of Diabetes Care products. For the nine-month period ended June 30, 2011, BD Medical revenues increased 4.0 percent, or 1.7 percent on a foreign currency-neutral basis.

In the BD Diagnostics segment, worldwide revenues for the quarter were $631 million, representing an increase of 9.6 percent compared with the prior-year period, or 4.8 percent on a foreign currency-neutral basis. Revenues reflected solid growth in Preanalytical Systems safety-engineered products and strong growth in both the Women's Health and Cancer and the Infectious Disease product offerings in the Diagnostics Systems unit. For the nine-month period ended June 30, 2011, BD Diagnostics revenues increased 6.4 percent, or 3.9 percent on a foreign currency-neutral basis.

In the BD Biosciences segment, worldwide revenues for the quarter were $338 million, representing an increase of 9.3 percent compared with the prior-year period, or 4.3 percent on a foreign currency-neutral basis. Segment growth was driven primarily by instrument and reagent sales in the Cell Analysis unit. Discovery Labware revenues in the U.S. were negatively impacted by weakness in core consumables. The segment's revenues also reflected softness in Western Europe due to government research funding delays. For the nine-month period ended June 30, 2011, BD Biosciences revenues increased by 5.7 percent, or 2.7 percent on a foreign currency-neutral basis.

Geographic Results

Third quarter revenues in the U.S. were $855 million, representing an increase of 5.7 percent compared with the prior-year period. Revenues outside of the U.S. were $1.159 billion, representing an increase of 13.4 percent compared with the prior-year period, or 4.1 percent on a foreign currency-neutral basis. Revenues reflected continued strength in emerging markets, which was partially offset by ongoing challenging macroeconomic conditions in Western Europe. For the nine-month period ended June 30, 2011, revenues in the U.S. were $2.513 billion, representing an increase of 2.4 percent compared with the prior-year period. Revenues outside of the U.S. were $3.265 billion, representing an increase of 7.2 percent compared with the prior-year period, or 2.8 percent on a foreign currency-neutral basis.

Fiscal Year 2011 Outlook

Reported revenue growth guidance for the full fiscal year 2011 is expected to be at the higher end of the previously communicated range of 5 to 6 percent compared with fiscal year 2010, due to the anticipated effects of favorable currency. On a foreign currency-neutral basis, the Company is lowering its revenue growth guidance to an increase of about 3 percent versus its previously communicated guidance of about 3.5 percent, mainly due to lower than expected sales in Western Europe.

The Company is raising its previous guidance for reported diluted earnings per share from continuing operations for fiscal year 2011 from $5.55-$5.65 to $5.65-$5.70, an increase of approximately 15 to 16 percent over fiscal year 2010, due to the anticipated effects of favorable currency. Diluted earnings per share from continuing operations for fiscal year 2011 are expected to increase 14 to 15 percent over adjusted diluted earnings per share from continuing operations of $4.94, excluding the specified item, for fiscal year 2010. The specified item represents the aforementioned 2010 non-cash charge of $0.04 per share related to healthcare reform. On a currency-neutral basis, the Company continues to expect diluted earnings per share from continuing operations to increase about 10 percent over adjusted diluted earnings per share in the prior-year period, despite lower than expected revenue growth and higher resin costs.

Conference Call Information

A conference call regarding BD's third quarter results and its expectations will be broadcast live on BD's website, www.bd.com/investors, along with related slides, at 8:00 a.m. (ET) Tuesday, August 2, 2011. The slides are available concurrent with the issuance of this press release at www.bd.com/investors. The conference call will be available for replay on BD's website, www.bd.com/investors, or at 855-859-2056 (domestic) and 404-537-3406 (international) through the close of business on Tuesday, August 9, 2011, access code 82566570.

Non-GAAP Financial Measures

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.

About BD

BD is a leading global medical technology company that develops, manufactures and sells medical devices, instrument systems and reagents. The Company is dedicated to improving people's health throughout the world. BD is focused on improving drug delivery, enhancing the quality and speed of diagnosing infectious diseases and cancers, and advancing research, discovery and production of new drugs and vaccines. BD's capabilities are instrumental in combating many of the world's most pressing diseases. Founded in 1897 and headquartered in Franklin Lakes, New Jersey, BD employs approximately 29,000 associates in more than 50 countries throughout the world. The Company serves healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry and the general public. For more information, please visit http://www.bd.com/.

This press release, including the section entitled "Fiscal Year 2011 Outlook", 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. Forward-looking statements may be identified by the use of words such as "expect", "estimate" or words of similar meaning in conjunction with statements of future performance. 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 from any forward-looking statement. These factors include, but are not limited to: the potential adverse effects that the earthquake and tsunami in Japan and the situation regarding the Fukushima, Japan nuclear power plant may have on BD's future operations in Japan; the unknown consequences of the recently-enacted healthcare reform in the United States, including the impact of the reduction in Medicare and Medicaid payments to hospitals, pharmaceutical companies and other customers, which could reduce demand for BD's products and increase downward pricing pressure; adverse changes in regional, national or foreign economic conditions, including any impact that may result from the current global economic situation on BD's ability to access credit markets and finance its operations, the demand for BD's products and services, or its suppliers' ability to provide products needed for BD's operations; changes in interest or foreign currency exchange rates; competitive factors; pricing and market share pressures; difficulties inherent in product development and delays in product introductions; increases in energy costs and their effect on, among other things, the cost of producing BD's products; fluctuations in costs and availability of raw materials and in BD's ability to maintain favorable supplier arrangements and relationships; new or changing laws impacting BD's business or changes in enforcement practices with respect to such laws; uncertainties of litigation (as described in BD's filings with the Securities and Exchange Commission); future healthcare reform, including changes in government pricing and reimbursement policies or other cost containment reforms; the effects of potential pandemic diseases; BD's ability to successfully integrate any businesses it acquires; and issuance of new or revised accounting standards, as well as other factors discussed in BD's filings with the Securities and Exchange Commission. BD does 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 thousands, except per share data)



Three Months Ended June 30,



2011


2010


% Change








REVENUES

$

2,014,081

$

1,830,911


10.0








Cost of products sold


951,980


883,434


7.8

Selling and administrative


474,646


416,468


14.0

Research and development


115,748


108,047


7.1

TOTAL OPERATING COSTS







AND EXPENSES


1,542,374


1,407,949


9.5








OPERATING INCOME


471,707


422,962


11.5








Interest income


11,508


2,094


NM

Interest expense


(22,211)


(13,085)


69.7

Other (expense) income, net


(363)


1,402


NM








INCOME FROM CONTINUING OPERATIONS BEFORE







INCOME TAXES


460,641


413,373


11.4








Income tax provision


122,531


119,213


2.8








INCOME FROM CONTINUING OPERATIONS


338,110


294,160


14.9








INCOME FROM DISCONTINUED OPERATIONS







NET OF INCOME TAX PROVISION OF







$111 AND $4,340, RESPECTIVELY


4,948


12,748


(61.2)








NET INCOME

$

343,058

$

306,908


11.8








EARNINGS PER SHARE














Basic:







Income from continuing operations

$

1.54

$

1.26


22.2

Income from discontinued operations

$

0.02

$

0.05


(60.0)

Net income (1)

$

1.57

$

1.32


18.9








Diluted:







Income from continuing operations

$

1.51

$

1.23


22.8

Income from discontinued operations

$

0.02

$

0.05


(60.0)

Net income (1)

$

1.53

$

1.29


18.6















AVERAGE SHARES OUTSTANDING














Basic


218,966


233,242



Diluted


223,567


238,319










NM - Not Meaningful







(1) Total per share amounts may not add due to rounding







BECTON DICKINSON AND COMPANY







CONSOLIDATED INCOME STATEMENTS







(Unaudited; Amounts in thousands, except per share data)















Nine Months Ended June 30,



2011


2010


% Change








REVENUES

$

5,778,109

$

5,499,138


5.1








Cost of products sold


2,738,000


2,642,250


3.6

Selling and administrative


1,364,543


1,283,217


6.3

Research and development


350,441


307,391


14.0

TOTAL OPERATING COSTS







AND EXPENSES


4,452,984


4,232,858


5.2








OPERATING INCOME


1,325,125


1,266,280


4.6








Interest income


41,294


20,535


NM

Interest expense


(61,685)


(38,985)


58.2

Other expense, net


(7,481)


(788)


NM








INCOME FROM CONTINUING OPERATIONS BEFORE







INCOME TAXES


1,297,253


1,247,042


4.0








Income tax provision


333,804


363,755


(8.2)








INCOME FROM CONTINUING OPERATIONS


963,449


883,287


9.1








INCOME FROM DISCONTINUED OPERATIONS







NET OF INCOME TAX PROVISION OF







$711 AND $13,058, RESPECTIVELY


7,566


37,628


(79.9)








NET INCOME

$

971,015

$

920,915


5.4








EARNINGS PER SHARE














Basic:







Income from continuing operations

$

4.33

$

3.75


15.5

Income from discontinued operations

$

0.03

$

0.16


(81.3)

Net income

$

4.36

$

3.91


11.5








Diluted:







Income from continuing operations

$

4.23

$

3.66


15.6

Income from discontinued operations

$

0.03

$

0.16


(81.3)

Net income

$

4.26

$

3.82


11.5















AVERAGE SHARES OUTSTANDING














Basic


222,674


235,316



Diluted


227,782


241,151










NM - Not Meaningful







BECTON DICKINSON AND COMPANY







SUPPLEMENTAL REVENUE INFORMATION







REVENUES BY SEGMENT AND GEOGRAPHIC AREA







(Unaudited; Amounts in thousands)















Three Months Ended June 30,



2011


2010


% Change








BD MEDICAL







United States

$

416,729

$

381,761


9.2

International


628,107


563,761


11.4

TOTAL

$

1,044,836

$

945,522


10.5








BD DIAGNOSTICS







United States

$

312,802

$

303,521


3.1

International


318,557


272,748


16.8

TOTAL

$

631,359

$

576,269


9.6








BD BIOSCIENCES







United States

$

125,933

$

124,146


1.4

International


211,953


184,974


14.6

TOTAL

$

337,886

$

309,120


9.3








TOTAL REVENUES







United States

$

855,464

$

809,428


5.7

International


1,158,617


1,021,483


13.4

TOTAL

$

2,014,081

$

1,830,911


10.0

BECTON DICKINSON AND COMPANY







SUPPLEMENTAL REVENUE INFORMATION







REVENUES BY SEGMENT AND GEOGRAPHIC AREA







(Unaudited; Amounts in thousands)















Nine Months Ended June 30,



2011


2010


% Change








BD MEDICAL







United States

$

1,220,744

$

1,196,105


2.1

International


1,731,969


1,641,722


5.5

TOTAL

$

2,952,713

$

2,837,827


4.0








BD DIAGNOSTICS







United States

$

932,269

$

906,566


2.8

International


906,160


820,849


10.4

TOTAL

$

1,838,429

$

1,727,415


6.4








BD BIOSCIENCES







United States

$

360,234

$

351,933


2.4

International


626,733


581,963


7.7

TOTAL

$

986,967

$

933,896


5.7








TOTAL REVENUES







United States

$

2,513,247

$

2,454,604


2.4

International


3,264,862


3,044,534


7.2

TOTAL

$

5,778,109

$

5,499,138


5.1

BECTON DICKINSON AND COMPANY







SUPPLEMENTAL REVENUE INFORMATION







REVENUES BY BUSINESS SEGMENTS AND UNITS







Three Months Ended June 30,







(Unaudited; Amounts in thousands)















United States



2011


2010


% Change








BD MEDICAL







Medical Surgical Systems

$

244,756

$

239,866


2.0

Diabetes Care


100,465


96,071


4.6

Pharmaceutical Systems


71,508


45,824


56.0

TOTAL

$

416,729

$

381,761


9.2








BD DIAGNOSTICS







Preanalytical Systems

$

162,589

$

159,228


2.1

Diagnostic Systems


150,213


144,293


4.1

TOTAL

$

312,802

$

303,521


3.1








BD BIOSCIENCES







Cell Analysis

$

89,162

$

84,365


5.7

Discovery Labware


36,771


39,781


(7.6)

TOTAL

$

125,933

$

124,146


1.4








TOTAL UNITED STATES

$

855,464

$

809,428


5.7

BECTON DICKINSON AND COMPANY











SUPPLEMENTAL REVENUE INFORMATION











REVENUES BY BUSINESS SEGMENTS AND UNITS











Three Months Ended June 30, (continued)











(Unaudited; Amounts in thousands)























International







% Change



2011


2010


Reported


FXN


FX Impact












BD MEDICAL











Medical Surgical Systems

$

284,262

$

253,687


12.1


3.0


9.1

Diabetes Care


119,719


101,081


18.4


7.8


10.6

Pharmaceutical Systems


224,126


208,993


7.2


(1.8)


9.0

TOTAL

$

628,107

$

563,761


11.4


2.1


9.3












BD DIAGNOSTICS











Preanalytical Systems

$

167,737

$

144,298


16.2


6.0


10.2

Diagnostic Systems


150,820


128,450


17.4


7.5


9.9

TOTAL

$

318,557

$

272,748


16.8


6.7


10.1












BD BIOSCIENCES











Cell Analysis

$

165,866

$

146,068


13.6


5.5


8.1

Discovery Labware


46,087


38,906


18.5


8.9


9.6

TOTAL

$

211,953

$

184,974


14.6


6.2


8.4












TOTAL INTERNATIONAL

$

1,158,617

$

1,021,483


13.4


4.1


9.3

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Three Months Ended June 30, (continued)

(Unaudited; Amounts in thousands)



Total







% Change



2011


2010


Reported


FXN


FX Impact












BD MEDICAL











Medical Surgical Systems

$

529,018

$

493,553


7.2


2.5


4.7

Diabetes Care


220,184


197,152


11.7


6.2


5.5

Pharmaceutical Systems


295,634


254,817


16.0


8.6


7.4

TOTAL

$

1,044,836

$

945,522


10.5


4.9


5.6












BD DIAGNOSTICS











Preanalytical Systems

$

330,326

$

303,526


8.8


4.0


4.8

Diagnostic Systems


301,033


272,743


10.4


5.7


4.7

TOTAL

$

631,359

$

576,269


9.6


4.8


4.8












BD BIOSCIENCES











Cell Analysis

$

255,028

$

230,433


10.7


5.6


5.1

Discovery Labware


82,858


78,687


5.3


0.6


4.7

TOTAL

$

337,886

$

309,120


9.3


4.3


5.0












TOTAL REVENUES

$

2,014,081

$

1,830,911


10.0


4.8


5.2

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Nine Months Ended June 30,

(Unaudited; Amounts in thousands)



United States



2011


2010


% Change








BD MEDICAL







Medical Surgical Systems

$

733,582

$

751,032


(2.3)

Diabetes Care


295,989


285,150


3.8

Pharmaceutical Systems


191,173


159,923


19.5

TOTAL

$

1,220,744

$

1,196,105


2.1








BD DIAGNOSTICS







Preanalytical Systems

$

481,624

$

465,395


3.5

Diagnostic Systems


450,645


441,171


2.1

TOTAL

$

932,269

$

906,566


2.8








BD BIOSCIENCES







Cell Analysis

$

252,423

$

240,152


5.1

Discovery Labware


107,811


111,781


(3.6)

TOTAL

$

360,234

$

351,933


2.4








TOTAL UNITED STATES

$

2,513,247

$

2,454,604


2.4

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Nine Months Ended June 30, (continued)

(Unaudited; Amounts in thousands)



International







% Change



2011


2010


Reported


FXN


FX Impact












BD MEDICAL











Medical Surgical Systems

$

812,752

$

756,963


7.4


2.1


5.3

Diabetes Care


345,837


301,508


14.7


9.6


5.1

Pharmaceutical Systems


573,380


583,251


(1.7)


(3.5)


1.8

TOTAL

$

1,731,969

$

1,641,722


5.5


1.5


4.0












BD DIAGNOSTICS











Preanalytical Systems

$

467,570

$

425,967


9.8


4.6


5.2

Diagnostic Systems


438,590


394,882


11.1


5.7


5.4

TOTAL

$

906,160

$

820,849


10.4


5.2


5.2












BD BIOSCIENCES











Cell Analysis

$

498,864

$

464,091


7.5


3.1


4.4

Discovery Labware


127,869


117,872


8.5


2.3


6.2

TOTAL

$

626,733

$

581,963


7.7


2.9


4.8












TOTAL INTERNATIONAL

$

3,264,862

$

3,044,534


7.2


2.8


4.4

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

REVENUES BY BUSINESS SEGMENTS AND UNITS

Nine Months Ended June 30, (continued)

(Unaudited; Amounts in thousands)



Total







% Change



2011


2010


Reported


FXN


FX Impact












BD MEDICAL











Medical Surgical Systems

$

1,546,334

$

1,507,995


2.5


(0.1)


2.6

Diabetes Care


641,826


586,658


9.4


6.8


2.6

Pharmaceutical Systems


764,553


743,174


2.9


1.5


1.4

TOTAL

$

2,952,713

$

2,837,827


4.0


1.7


2.3












BD DIAGNOSTICS











Preanalytical Systems

$

949,194

$

891,362


6.5


4.0


2.5

Diagnostic Systems


889,235


836,053


6.4


3.8


2.6

TOTAL

$

1,838,429

$

1,727,415


6.4


3.9


2.5












BD BIOSCIENCES











Cell Analysis

$

751,287

$

704,243


6.7


3.8


2.9

Discovery Labware


235,680


229,653


2.6


(0.5)


3.1

TOTAL

$

986,967

$

933,896


5.7


2.7


3.0












TOTAL REVENUES

$

5,778,109

$

5,499,138


5.1


2.6


2.5

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL REVENUE INFORMATION

SAFETY REVENUES

(Unaudited; Amounts in thousands)



Three Months Ended June 30,







% Change



2011


2010


Reported


FXN


FX Impact












TOTAL SAFETY REVENUES











United States

$

280,696

$

270,604


3.7


3.7


-

International


198,417


157,851


25.7


14.1


11.6

TOTAL

$

479,113

$

428,455


11.8


7.6


4.2












BY SEGMENT











BD Medical

$

223,460

$

195,400


14.4


10.4


4.0

BD Diagnostics


255,653


233,055


9.7


5.2


4.5

TOTAL

$

479,113

$

428,455


11.8


7.6


4.2
























Nine Months Ended June 30,







% Change



2011


2010


Reported


FXN


FX Impact












TOTAL SAFETY REVENUES











United States

$

828,002

$

825,463


0.3


0.3


-

International


545,530


461,517


18.2


11.9


6.3

TOTAL

$

1,373,532

$

1,286,980


6.7


4.5


2.2












BY SEGMENT











BD Medical

$

641,635

$

610,262


5.1


3.0


2.1

BD Diagnostics


731,897


676,718


8.2


5.8


2.4

TOTAL

$

1,373,532

$

1,286,980


6.7


4.5


2.2

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL INFORMATION

FY2011 Year-to-Date Reconciliation

(Unaudited; Amounts in millions, except per share data)



Nine Months Ended June 30,



Reported


Reported




Adjusted


Adjusted



FY 2011


FY 2010


Tax (1)


FY 2010


% Growth












Diluted Earnings per Share











from Continuing Operations

$

4.23

$

3.66

$

0.04

$

3.70


14.3%












(1) Represents a non-cash charge related to healthcare reform

impacting Medicare Part D reimbursements.

BECTON DICKINSON AND COMPANY

SUPPLEMENTAL INFORMATION

Quarter-to-Date Fiscal 2011 Reconciliation - FX Impact

(Unaudited; Amounts in millions, except per share data)




Three Months Ended June 30,



Reported


Reported


Reported Growth


Foreign Currency


FY10 Hedge


Total


FXN


FXN



FY 2011


FY 2010


$


Translation


Loss


FX


Change


Growth


















REVENUES

$

2,014

$

1,831

$

183

$

94

$

1

$

96

$

88


4.8%


















Diluted Earnings per Share

















from Continuing Operations

$

1.51

$

1.23

$

0.28

$

0.11

$

0.00

$

0.11

$

0.17


13.8%



































FXN = Foreign Currency Neutral

















All figures rounded. Totals may not add due to rounding.

















BECTON DICKINSON AND COMPANY

SUPPLEMENTAL INFORMATION

Year-to-Date Fiscal 2011 Reconciliation - FX Impact

(Unaudited; Amounts in millions, except per share data)




Nine Months Ended June 30,



Reported


Adjusted


Adjusted Growth


Foreign Currency


FY10 Hedge


Total


Adjusted FXN


FXN



FY 2011


FY 2010


$


Translation


Loss


FX


Change


Growth


















REVENUES

$

5,778

$

5,499

$

279

$

94

$

43

$

136

$

143


2.6%


















Diluted Earnings per Share

















from Continuing Operations

$

4.23

$

3.70

$

0.53

$

0.12

$

0.11

$

0.23

$

0.30


8.1%



































FXN = Foreign Currency Neutral

















All figures rounded. Totals may not add due to rounding.

















BECTON DICKINSON AND COMPANY



SUPPLEMENTAL INFORMATION



FY2010 Total Year Reconciliation






Reported Diluted Earnings per Share



from Continuing Operations

$

4.90




Tax (1)


0.04




Adjusted Diluted Earnings per Share



from Continuing Operations

$

4.94




(1) Represents a non-cash charge related to healthcare reform



impacting Medicare Part D reimbursements.



Contact:
Monique N. Dolecki, Investor Relations - 201-847-5453
Colleen T. White, Corporate Communications - 201-847-5369

SOURCE BD (Becton, Dickinson and Company)