We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
BD (BDX)-Biocorp's Latest Deal to Enhance Tracking Adherence
Read MoreHide Full Article
Becton, Dickinson and Company (BDX - Free Report) , popularly known as BD, recently inked an agreement with Biocorp. The deal aims to use connected technology to track adherence for self-administered drug therapies, like biologics.
France-based medical device and delivery systems manufacturer, Biocorp’s Injay technology will be integrated into the BD UltraSafe Plus Passive Needle Guard used with prefillable syringes (PFS) to support biopharmaceutical companies’ efforts to improve the adherence and outcomes of injectable drugs.
BD expects to combine Biocorp’s expertise in developing and commercializing connected drug delivery devices with its existing portfolio of advanced injection drug delivery systems.
The latest agreement is expected to significantly boost BD's Pharmaceutical Systems (PS) business unit. Notably, the PS business is a part of the broader BD Medical segment.
Rationale Behind the Agreement
With the growing prevalence of self-administered therapies for chronic diseases, along with the pervasiveness of digital technologies, new opportunities have been created to improve patient outcomes and experiences and increase the ability to monitor medication adherence.
Biocorp’s Injay, a simple and cost-effective connected solution, has been designed to monitor the use of pre-fillable syringes in clinical studies or routine care. Using the Near Field Communication technology and specific sensors to identify the product, it can confirm a complete injection and transfer that information to a smartphone.
Per BD’s management, connected drug delivery devices have been playing a significant role in aiding biopharmaceutical manufacturers to understand and track key trends in patient adherence. Management feels that the latest agreement will likely enable it to explore innovative solutions in this space and further enable the care provision to transition to alternate settings and improve chronic disease outcomes.
Industry Prospects
Per a report by Allied Market Research, the global connected drug delivery devices market was estimated to be $290.3 million in 2021 and is anticipated to reach $2.1 billion by 2030 at a CAGR of 24.3%. Factors like the growing preference for home-based care, increasing emphasis on preventive care, and rising emphasis on the current trend of improved patient compliance and quality of care are likely to drive the market.
Given the market potential, the latest agreement is expected to significantly strengthen BD’s business worldwide.
Notable Developments in Medical Segment
Last month, BD launched a next-generation glass PFS — BD Effivax Glass Prefillable Syringe. The latest PFS has been designed in association with key pharmaceutical companies to meet the complex and evolving requirements of vaccine manufacturing.
In July, BD acquired MedKeeper, a provider of modern, cloud-based pharmacy management applications. The buyout is expected to complement BD's existing presence in the pharmacy and boost its Medication Management Solutions (MMS) business unit.
In June, BD, along with Frazier Healthcare Partners, announced a definitive agreement for the former to acquire Parata Systems for $1.525 billion. Following the buyout, BD’s MMS business unit will be complemented with a new set of technologies across the care continuum, including acute care health systems, retail pharmacies, long-term care and home settings. The buyout was completed in July.
Price Performance
The BD stock has lost 3.9% over the past year compared with the industry’s 39.1% decline and the S&P 500's 19.9% fall.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, BD carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , ShockWave Medical, Inc. (SWAV - Free Report) and McKesson Corporation (MCK - Free Report) .
AMN Healthcare, carrying a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 3.2%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 15.7%.
AMN Healthcare has gained 17% against the industry’s 57.5% decline in the past year.
ShockWave Medical, sporting a Zacks Rank #1 at present, has an estimated growth rate of 33.5% for 2023. SWAV’s earnings surpassed estimates in all the trailing four quarters, the average beat being 180.1%.
ShockWave Medical has gained 35.4% against the industry’s 48% decline over the past year.
McKesson, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 10.1%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed the same in one, the average beat being 13%.
McKesson has gained 76.5% against the industry’s 39.1% decline over the past year.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
BD (BDX)-Biocorp's Latest Deal to Enhance Tracking Adherence
Becton, Dickinson and Company (BDX - Free Report) , popularly known as BD, recently inked an agreement with Biocorp. The deal aims to use connected technology to track adherence for self-administered drug therapies, like biologics.
France-based medical device and delivery systems manufacturer, Biocorp’s Injay technology will be integrated into the BD UltraSafe Plus Passive Needle Guard used with prefillable syringes (PFS) to support biopharmaceutical companies’ efforts to improve the adherence and outcomes of injectable drugs.
BD expects to combine Biocorp’s expertise in developing and commercializing connected drug delivery devices with its existing portfolio of advanced injection drug delivery systems.
The latest agreement is expected to significantly boost BD's Pharmaceutical Systems (PS) business unit. Notably, the PS business is a part of the broader BD Medical segment.
Rationale Behind the Agreement
With the growing prevalence of self-administered therapies for chronic diseases, along with the pervasiveness of digital technologies, new opportunities have been created to improve patient outcomes and experiences and increase the ability to monitor medication adherence.
Biocorp’s Injay, a simple and cost-effective connected solution, has been designed to monitor the use of pre-fillable syringes in clinical studies or routine care. Using the Near Field Communication technology and specific sensors to identify the product, it can confirm a complete injection and transfer that information to a smartphone.
Per BD’s management, connected drug delivery devices have been playing a significant role in aiding biopharmaceutical manufacturers to understand and track key trends in patient adherence. Management feels that the latest agreement will likely enable it to explore innovative solutions in this space and further enable the care provision to transition to alternate settings and improve chronic disease outcomes.
Industry Prospects
Per a report by Allied Market Research, the global connected drug delivery devices market was estimated to be $290.3 million in 2021 and is anticipated to reach $2.1 billion by 2030 at a CAGR of 24.3%. Factors like the growing preference for home-based care, increasing emphasis on preventive care, and rising emphasis on the current trend of improved patient compliance and quality of care are likely to drive the market.
Given the market potential, the latest agreement is expected to significantly strengthen BD’s business worldwide.
Notable Developments in Medical Segment
Last month, BD launched a next-generation glass PFS — BD Effivax Glass Prefillable Syringe. The latest PFS has been designed in association with key pharmaceutical companies to meet the complex and evolving requirements of vaccine manufacturing.
In July, BD acquired MedKeeper, a provider of modern, cloud-based pharmacy management applications. The buyout is expected to complement BD's existing presence in the pharmacy and boost its Medication Management Solutions (MMS) business unit.
In June, BD, along with Frazier Healthcare Partners, announced a definitive agreement for the former to acquire Parata Systems for $1.525 billion. Following the buyout, BD’s MMS business unit will be complemented with a new set of technologies across the care continuum, including acute care health systems, retail pharmacies, long-term care and home settings. The buyout was completed in July.
Price Performance
The BD stock has lost 3.9% over the past year compared with the industry’s 39.1% decline and the S&P 500's 19.9% fall.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, BD carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , ShockWave Medical, Inc. (SWAV - Free Report) and McKesson Corporation (MCK - Free Report) .
AMN Healthcare, carrying a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 3.2%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 15.7%.
You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has gained 17% against the industry’s 57.5% decline in the past year.
ShockWave Medical, sporting a Zacks Rank #1 at present, has an estimated growth rate of 33.5% for 2023. SWAV’s earnings surpassed estimates in all the trailing four quarters, the average beat being 180.1%.
ShockWave Medical has gained 35.4% against the industry’s 48% decline over the past year.
McKesson, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 10.1%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed the same in one, the average beat being 13%.
McKesson has gained 76.5% against the industry’s 39.1% decline over the past year.