for Kristen. joining you're Good you thank well, doing us. hope Thanks, I and morning, everyone.
three address I main topics. want For to today's call,
my second, we're the update quarter and our Then on I First, performance; P&L hot review on topics focused strategy. high for update fully and progress full-year it Chris an finally, give on an BD the several and outlook. of turn share I'll I'll on; perspective over to level a on will
right jump let's in. So
testing. to our Diagnostic team quarter, acknowledge accelerated the the our commitments, manufacturing this Integrated exceeded by Solutions BD team. scaling continuing up the The developing an regulatory COVID-XX and assay particularly business Total point-of-care volumes, testing behind routine testing reported headwinds to research were the quarter First, COVID antigen procedures, COVID-XX as able of some ship In full-year I'll the but revenue the also start us to with aligned Alaris testing, better-than-expected also our our the on X.X% our we EPS strategic a not FX-neutral want deliver to had allowed the not up strategy. opportunity core investments COVID-related that and we to performance. basis despite and grew the Revenues offset advance and utilization, from hospital ongoing overall gave spending. make businesses and effectiveness only lab XXXX business and other but QX, I and only diagnostics the us were science COVID-XX allowed impact BD of to growth Veritor importantly execution approvals, securing hold. offset upside, several to timeframe, in revenues the lower utility exceptional BD Veritor surgical rapid successfully us and
QX. move testing negative of COVID a able to revenues, a we to QX from in impact COVID because net fact, impact COVID our were In positive net in
during of quarter. our testing three the and performance If of across exclude are we businesses, the COVID-XX the look sequential improvement at base very with segments you pleased all
varied pace by geography. and the expect, you As the both category would by recovery of product
and COVID-XX sales in single-digit was in, basis estimate BD headwinds the hold, quarter. XXX the the latter Alaris the able growth, points ship to deliver mid all QX overcoming team to from So we the be
basis. a EPS down on XX.X% Our $X.XX QX was adjusted year-over-year
we our to of issuance Gore growth, the returned While headwinds revenues our pressure, last dilution to our and contributed from the did to from EPS royalty continue see quarter COVID-related decline. May equity some
look I of about $XXX back COVID-XX ship to globally. fiscal our COVID-XX the Alaris As on its hold from challenges year, the a on In to our impact topline. faced negative million QX, we a impact utilization and significant number had healthcare
the solutions execution of and hard and year diagnostic basis. closing the the growth strongly, FX-neutral continued to the COVID-XX their launching to for work, However, on proud innovative the executed BD on finished return multiple in an I'm team swiftly with and strong offsetting QX team COVID-XX focusing flat headwinds. revenues year
to Now hot topics. want turn to several I
our of testing review quarter. the with start Let's COVID in
was said, sales COVID-XX in I with million at I this pleased the with with As over execution quarter coming IDS quarter. very $XXX team's the revenues $XXX approximately Veritor at testing in million
a We capacity world-class faster testament able to ramp-up manufacturing manufacturing BD’s expected, are to excellence. than originally Veritor
a than to average able selling we higher also for anticipated. sustain price longer We’re
Looking ahead, competitors do price additional erosion we as come more market to expect may some. and do have
work expand BD Veritor BD our and to MAX diligently continue We to manufacturing capacity.
capacity Our firmly intact. remain expansions previously communicated
any monitor supply the online. demand on further new and We dynamics updates the with market. additional capacity to of you expansions provide the capacity to And continue we'll extent comes
see Veritor tests. continue strong and customer demand to very BD side, BD the MAX On COVID-XX for we
Asia, non-traditional we opportunities in seen the additional last BD reception for a base current CE received continue us of we our we to we've footprint. future further the Canada. planned installed are And number now will shipping Latin BD strong Readers for to fact, contracts strong our Europe, extending traditional both On growth and with demand, September in large active in one XX, of signed of We to instrument we've are have accounts broadened been assays and future on international this the testing and actively assay leveraging and which our and units, COVID-XX adoption Veritor markets. that assays. And Since America provide believe our we footprint COVID-XX and beyond see quarter, very with Veritor, and Veritor U.S. XX,XXX over is We've interest assay Veritor instruments international U.S. from the doubled customers of across strengths, pleased BD the footprint. Mark Veritor. Regarding
As combination Test partner launched we COVID-XX flu we into our recently season, CerTest. our head Europe a MAX RSV with the on in flu BD system
assays to toward combination Veritor globally. the work continue We BD launch COVID-XX flu and of MAX platforms our and BD on
the a take outlook our walk me thinking Veritor. let Now for on and minute through
the timing, the You've into around consideration play. COVID-XX And now in execute. planning a ready XXXX. we in of is are availability, consideration, billion fiscal vaccines, adopted. ASPs. I There's we range variables that how are into that XXXX there But fiscal billion do to a heard competitive Veritor the testing are widely of effectiveness, of second. first $X.X of are believe number are to and with forecasting our are there COVID-XX questions than have be likelihood being and you durability $X weighting of know that of that me and of their we have we also testing for play scenarios many a XXXX like the a half take many would outlook of and they long-term on at I before the fiscal ramp-up more beyond. there to testing of of higher and year there taking to say the manufacturing, at you products for number revenues comfortable for fiscal variety say though, Again, variables all that factors these the continue then the many and will into
to However, a given to we at model uncertainty prudent believe the continuation ASPs, be This of revenues the same as demands XXXX. level leads would me around not fiscal next topic. and our it
reinvestment testing COVID-XX Our plans.
FYXXXX testing creation empower. to a ensure invested our and profits back electing of durable portion of framework with to simplify, We long-term These business into profits grow, COVID-XX strategy consistent value will our are reinvest growth. and be the
Our returns is programs focus plan investing impact and growth. to and identify investment We to top risk-adjusted in high a up on projects activated based execute. the initiating capacity organization our process and bottoms QX, in
investments increased recently BD of the in Innovation launched initiative, and part Fund. Growth As this we
We accelerate projects. ongoing in have and programs other R&D also that investments and go-to-market internationally the U.S. kick-started
around You've optimize We simplification more. that Recode. even program heard efforts ways for to look me talk to about Project plan our
Program generate returns should are We accelerate investments our Quality late further Inspire programs risk in in to our enhance management investment COVID-XX to profits using beginning also these believe FYXXXX. We systems.
plans to towards make line. fiscal the level, said, Our a above current I the of of, billion yet reinvestment still long-term through flow Veritor contemplate this plan are testing allow XXXX testing investments billion. revenues as Veritor revenues higher to bottom we additional $X.X portion to growth, revenues $X
around million organizations continue world and be in and To progress. and non-government COVID-XX over objective. Canada for the June, $XXX vaccination needles UK, COVID-XX a needle you they Next date, our over where commitments to which campaign. we various the from we period have continue range a an prepare could a to to opportunity now syringe to vaccine to like estimated syringes, achievable for I'd countries make like XXX the total update includes Last to U.S., XX-month great the is on take XX million vaccine as campaign, commitments we million and and for $XXX feel we moment readiness this
pump obtaining Alaris I'd comprehensive update growth. to franchise organization and our you the for a highest market-leading continues for of to returning Alaris. The priority infusion Now on preparing like to filing be XXX(k) clearance
the made progress last further team has Over retired and quarter, the risk.
today We last we able stages, fiscal confidence our early to level that the various open late or engage FDA XXXX. than in it quarter, progress. QX our is continue QX we XXX(k) are was in way fiscal and working will submit our higher about be systematically with to testing through My dialogue
comprehensive focus review ultimately mentioned and will ensuring clearance. timely remains FDA past, submission on the I in a As that help enable our
clearance and our on submission, not strategy. any to fiscal The was my last timelines, on predict remains Category growth FDA's not a do item hot our it size our While of product drivers I contribution from the innovation comment given XXXX. we revenue intention and the core the one list want is in innovation pipeline. XXX(k) complexity to the of assume of
We our end. R&D and have improving we to that on effectiveness, continue execution and great pipeline make strides been to focused
quarter, This X% R&D year-over-year. spending increased
first The years. many increase the meaningful for in company
significant completely we a underfunded have line BD commercial all product unfunded it accelerate to round the established development continue received product which higher investments, QX. and segments or for a a innovation of and the to two or extensions funded new including and of across maximum We lot of focus be would ahead, and innovation are great new submissions will year. that driving Looking on initiated first of new fund, level earlier incremental revenue we three adoption. opportunities we in opportunities, designed funding programs Through through this projects years fund, our growth R&D
next advancing the to year been portfolio with doubles and many or ahead are we've so, robust Looking singles for. we like product long a known
to IDS as also notable of for patient COVID July, of I'd we received want as the those Cancer management. strides benefit our of some few BD and on now. can BD highlight stratification HPV and have genotyping, is extended & our the acutely to Onclarity programs are risk more platforms, franchise the our MAX support also that focused FDA Health and improve approval risk-based team great BD in patients. and on In for Women's the combination assays they Assay both highlight We I a advancing flu for which you like Veritor possible of The making. pipeline, soon
fiscal healthcare BD feedback to customer our great diagnostic Onclarity is COR, system in assay integrated in those bringing high and In feedback we and dose up of to and to ml QX, in molecular which our on volume, receiving rollout. look BD COR the assay experience look Medical X.XXmL processing. United in Europe, this enabling proven system that in we've been we our forward bringing are forward this on The high-growth fully the both throughput States. launched injection system, adds Pharmaceutical been portfolio BD Plus It designed a are very positive and assay. deliver an two And to available which Systems. to both ergonomic BD new We receiving customers both XXXX, providers. initial UltraSafe passive to We safety for while specimen safe safety and patients the has with
had the of to towards fiscal that secured ES Pyxis in BD Station. during launched we pharmacy represents Breast millimeter to by – its and U.S. the the and the X.XX year launch capabilities and will integration the particular three have the BD we operating the launch product a new note, new Sample DCBs foray BD launched LUTONIX of launched Embolization commercially We robust automation partners which of addition enhancing LUTONIX product nursing adds we Caterpillar Insertion a XXXX. our device Multiple number Peripheral Japan. the In and room Interventional, X.X, elevation team businesses. of in in XXX Pyxis the deeper Of with the launches Intervention pharmaceutical in into first have interventional our XXXX, in oncology. also PI plan Biopsy Single world fiscal device, Medical, Also end across of launched Anesthesia which
business Surgery Prevention compatible Our our well configured product. a XDMax Infection anatomically launched Hernia Mesh as version market-leading completely Inguinal robotic of the as Pureprep
the Finally, segment. designed PureWick product developing COVID which team leading to further to suffer across to minimize launches home. women incontinence the XXXX impact help by all our be position schedule, hard worked launching products use at business on X.X, launch businesses. another to is of across our innovative capitalized incontinence female product year commercialization UCC Fiscal in who our to Interventional promises from on of The of drydock
and we urology competitive you, with products infection reasons, our share should you commercialization any prevention platforms oncology, acute in For but won't particular. of in to new specifics activity expect further suffice say
submission supplement to update want on our knee. remains in I notified our Balloon PMA that Coated and for use an FDA the non-approvable. LUTONIX Drug recently FDA its us PMA The Finally, below has provide the
the are steps any. We with to maybe, collaboratively what working our next if FDA determine
to in submission. our X% and As forecast not related business a today revenues entire any represents our do than reminder, overall this our sales, less include of we LUTONIX
from calendar on, want and the to John move at will moment end a we of retire acknowledge DeFord, Before I BD who the take year.
As remarkable lasting know, years has tremendous had career made impact joining and BD you John all a and three has since ago. a
a While will to he for us. an advisor continue serve consultant as and
Sciences are we miss track are COVID-XX very we value we our in Patrick's John's phase are a BD confident asked not important Dave going have humor, creation. going responsibility, but that to Hickey of excited is been better successor lead he And innovation Technology to his leading the this and success. than Life BD takes course, on right and and for and the Chief pipeline to launch. IDS of And on strategy leadership next appointment has we for miss leader build deliver Dave to Patrick's as record new Veritor Of to the we are Officer. our could team Patrick the product on
XXXX great phase I Finally, BD capabilities It's CEO I grow, to to drivers drivers deep simplify, a included fiscal BD I my in and against quick the playbook. want our which vision the strong three our and manufacturing, world-class update our call software on progress BD’s in category build new And scale, what And our beginning provide upon leadership and and we've made global in informatics. strategy. When foundation building strengths, became execute value creation. earlier next outlined empower. we this for of XXXX, year,
As R&D about is And and and the our improving what growth I continuously effectiveness. mentioned, come fund. I'm we've been excited BD capabilities from steadfast our R&D to in innovation strengthening
In XXXX, higher executed look also strategy to on our internal We markets, through acquisitions. augment tuck-in and growth I'll just innovation in fiscal highlight transactions we three. six tuck-in
infectious disease. First that. capabilities our testing. from about this capability is the and company, still And launch, is broadly, developing molecular this diagnostic early broadens platform point-of-care a point-of-care an few diagnostics business in excited a acquisition a product we NAT and our in held Diagnostics, technology privately adds how under and point-of-care years This which development are more to very for testing is molecular while stage,
measurement company, This robust we platform. connected a output first which about the Interventional’s segment. highlight measurements today privately an devices hospitals. urine year of that our automated that be Medical, integrate Solutions HealthSight through like on that company an position is of to going within mechanical into device, we I'd Venous thrombectomy and actually which startup medical markets UO, This U.S. record smart innovative acquisition our XX% held Sensica is arterial device and and expands third this the Interventional was to electronic Straub peripheral that treat acquisition have BD’s acquisition medical atherectomy interoperability It BD leverages diseases. is developed captures hourly the And urine and solution. this Another output all closed PAD BD portfolio BD Adaptec,
We have a increase fiscal of continue funnel here robust deals as our we into to and we XXXX. focus move
have If Inspire track. the all we to test Our Quality, efforts and and reinvestment Project some opportunity anything, accelerate the simplification some on projects around proceeds. Recode of with COVID-XX remain
headwinds Alaris worked FYXXXX, navigate on how I the of reflect I to proud the hold. am COVID company of through the and ship As
these BD an revenue performance a successful launch to with response basis on deliver FX-neutral for enabled along Our testing year. challenges of to COVID-XX the flat
face latter ahead, COVID am that a to on many resolve. confident we I company, are there more of and healthcare As But Alaris challenges growth I drive the accelerate impact around and some opportunities namely ahead are look there the as remediation, world. our we the will which
right We that, the With to strategy. to Reidy, the Chris right have hand over the make concluding few remarks. I'd investments. a We're like and then call making I'll
