BECTON DICKINSON & CO (BDX)

Becton, Dickinson and Company (BD) is a global medical technology company, incorporated in New Jersey in 1906 as successor to a New York business started in 1897. It develops, manufactures and sells medical supplies, devices, laboratory equipment and diagnostic products. Its solutions focus on medication management and patient safety, infection prevention, surgical and interventional procedures, drug delivery, anesthesiology care, diagnosis of infectious diseases and cancers, and cellular research.

As of September 30, 2025, BD had three segments. BD Medical covers Medication Delivery Solutions (IV catheters, syringes and needles, vascular care, closed-system drug transfer devices, sharps disposal), Medication Management Solutions (infusion pumps, automated dispensing, pharmacy automation, informatics), Pharmaceutical Systems (prefillable syringes and self-injection systems) and Advanced Patient Monitoring (hemodynamic and tissue oximetry monitoring). Advanced Patient Monitoring came from the September 2024 acquisition of Edwards Lifesciences' Critical Care product group for $3.914 billion. BD Life Sciences covers Diagnostic Solutions (blood culturing, microbiology, molecular and point-of-care assays), Biosciences (cell sorters and analyzers, antibodies, reagents, clinical oncology and HIV diagnostics) and Specimen Management (blood collection and specimen transport). BD Interventional covers Surgery (hernia repair, biosurgery, infection prevention), Peripheral Intervention (angioplasty balloons, stents, grafts, ablation, atherectomy and thrombectomy) and Urology and Critical Care (urine management, kidney stone and temperature management). Effective October 1, 2025, BD reorganized into five segments: Medical Essentials, Connected Care, BioPharma Systems, Interventional and Life Sciences. On July 13, 2025, BD agreed to combine its Biosciences and Diagnostic Solutions business with Waters Corporation in a Reverse Morris Trust transaction. BD shareholders would own about 39.2% of the combined company, and BD expects a cash distribution of about $4 billion. Closing is expected around the end of the first quarter of calendar 2026. BD spun off its Diabetes Care business as Embecta in April 2022 and sold its Surgical Instrumentation platform in August 2023.

Customers include hospitals, clinics, physicians' offices, ambulatory surgery centers, clinical laboratories, blood banks, retail pharmacies, public health agencies, academic and government institutions, pharmaceutical and biotechnology companies, and consumers. BD sells worldwide and reports operations outside the U.S. as EMEA, Greater Asia, Latin America and Canada. Customers and their patients depend on public and private payers for reimbursement, which BD does not control.

In the U.S., BD distributes disposable products through acute care, non-acute care, laboratory and drug wholesaler distributors, and sells capital equipment mostly direct. Internationally it sells directly or through distributors. It manufactures in the U.S. and in many other countries, including Ireland, Germany, China, Mexico and Singapore. It buys plastics, glass, metals, textiles, electronics and chemicals, and some materials are sole sourced. R&D is conducted mainly in North America, with centers in India, China, Singapore and Ireland. Competitors range from specialized firms to larger companies, including new entrants and low-cost manufacturers, and competition is based on price, quality, innovation, service, reputation, distribution and promotion. BD's products are regulated by the FDA and foreign agencies. Its executive offices are at 1 Becton Drive, Franklin Lakes, New Jersey.