Becton, Dickinson and Company (BDX - Free Report) , popularly known as BD, recently enhanced the medication management process through technological innovation. The company introduced innovative platforms like BD HealthSight viewer, BD Pyxis ES software and BD Alaris infusion solutions. These promise inventory optimization, availability, solid clinician productivity and complete medication safety to patients.
BD HealthSight viewer is a web-based pharmacy operations dashboard that leverages on BD Pyxis and BD Alaris infusion systems. The BD Pyxis ES has been exclusively designed to enhance clinician productivity.
In short, the platforms particularly focus on medication availability and efficiency. This is done by monitoring the devices and reporting the infusion status continuously.
What is Medication Management?
Reports suggest that medication management involves a comprehensive review of medical prescriptions by planning short and long-term medication treatments. The review includes monitoring the safety and efficiency of the medicinal procedures and patient education.
A report by Markets And Markets reveals that the global medication management market is expected to see a CAGR of 13% to 15% in the 2014-to-2019 period to reach a worth of $1,624.9 million.
Other than BD, companies like McKesson Corporation (MCK - Free Report) and Cerner Corporation (CERN - Free Report) are leading players in the medication management space.
Shares of BD have inched up 0.6% to $219.07 since the news release. BD has a long-term expected earnings growth rate of 12%.
Year to date, BD has had an impressive run on the bourses. The company has returned 35.6%, comparing favorably with the broader industry’s gain of 16.2%. In fact, the current return is higher than the S&P 500’s addition of 16.2%.
The stock has a Zacks Rank #3 (Hold).
BD Portfolio Solid
Meanwhile, management at BD has been focusing on strengthening its portfolio for long. Recently, the company signed an agreement with Fresenius Medical Care (FMS - Free Report) to distribute sodium chloride saline. The addition of sodium chloride to BD’s Medication Management portfolio is likely to prove beneficial.
The other major launches include UltraTouch push-button blood collection set, Veritor Plus and BD MAX assays.
The latest research on clinical instruments in the life sciences segment and Pyxis ES and Neopak in the medical segment is notable.
Within the genomics business, BD recently expanded its portfolio through the launch of BD Rhapsody, a new single cell platform for RNA expression analysis.
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