Press release from PR Newswire
BD Announces Agreement to Acquire Carmel Pharma, Inc.
Wednesday, July 27, 2011
BD Announces Agreement to Acquire Carmel Pharma, Inc.08:00 EDT Wednesday, July 27, 2011Will Expand Healthcare Worker Safety Offerings to Include Hazardous Drug Exposure ReductionFRANKLIN LAKES, N.J., July 27, 2011 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, announced today that it signed a definitive agreement to acquire Carmel Pharma, Inc., a Swedish company that manufactures the PhaSeal® System, 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 by the end of BD's fiscal year 2011. The financial terms of the agreement were not disclosed.The acquisition would expand the scope of BD's healthcare worker safety emphasis, especially in the area of parenteral medication delivery. "We believe that the combination of Carmel Pharma's current sales presence in hospital pharmacy with BD's much broader institutional presence on healthcare safety can accelerate adoption of this key safety platform," said William A. Kozy, BD Executive Vice President.The PhaSeal System minimizes the risk of exposure to potentially harmful liquids and vapors from toxic drugs. It is typically used by pharmacists, pharmacy techs, nurses and oncologists in inpatient, outpatient and medical practice settings for the preparation and administration of hazardous drugs such as those used in the treatment of cancer. Studies continue to document healthcare worker exposure to hazardous drugs in the preparation and administration of hazardous drugs such as some chemotherapeutics used in the treatment of cancer. "Healthcare worker safety remains a major issue for global healthcare, and hazardous drug exposure is an issue needing better solutions. As cancer drug therapy proliferates, this is a unique opportunity for BD to further expand its role in protecting healthcare workers," said Vincent A. Forlenza, BD President and Chief Operating Officer. "This planned acquisition aligns very well with BD's purpose of 'Helping all people live healthy lives.'" BD senior management will address this announcement during the Company's fiscal third quarter earnings call on Tuesday, August 2, 2011, which will be broadcast live on BD's website, www.bd.com/investors, at 8:00 a.m. (ET).About BDBD 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 www.bd.com.This press release contains certain estimates and other forward-looking statements (as defined under Federal securities laws) regarding the acquisition of Carmel Pharma, the timing of the anticipated acquisition, and the potential benefits of the anticipated acquisition that BD expects to occur or anticipates occurring in the future. 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, factors that could cause actual results to vary materially from any forward-looking statement include, but are not limited to: the satisfaction of closing conditions with respect to the acquisition; the ability to successfully integrate Carmel Pharma's operations and programs with BD's and the time and resources required to do so; difficulties inherent in product development and delays in product introductions; competitive factors; pricing and market share pressures; 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; changes in healthcare or other governmental regulation, including changes in government pricing and reimbursement policies or other cost containment reforms; as well as other factors discussed in BD's filings with the Securities and Exchange Commission. We do 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. Contacts:Colleen T. White, Corporate Communications ? 201-847-5369Colleen_white@bd.comMonique N. Dolecki, Investor Relations ? 201-847-5453Monique_dolecki@bd.comSOURCE BD (Becton, Dickinson and Company)