BD CEO: Medtronic Collaboration On Novel Infusion Set "On Track"
By Jof Enriquez,
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Becton, Dickinson and Company (BD) CEO Vincent A. Forlenza told investors recently that an ongoing partnership with Medtronic on a new insulin infusion set is on track, and unveiled the company's pipeline of new products in 2016, including a couple of new cell analyzers with faster simultaneous measurement capabilities. He also confirmed that savings from the medical device tax suspension will be re-invested into R&D.
Forlenza said BD is set to launch in the middle of the fiscal year 2016 a new FDA-approved infusion set with FlowSmart Technology for type 1 diabetes patients, featuring a unique side-ported catheter design to reduce silent occlusions, and the smallest insertion needle (30 gauge) to minimize insertion pain and trauma. Under a partnership announced last June, BD will manufacture the insulin infusion set and Medtronic will commercialize the product, which received 510(k) clearance from FDA in April last year.
“We remain on track with our collaboration with Medtronic. The insulin infusion sets in our Diabetes Care business have an expected product launch in the middle of the fiscal year 2016, so this year. We believe this product will improve the consistency of insulin delivery by significantly reducing silent occlusions, simplify the user's experience, and increase a patient's overall satisfaction with insulin pumping,” Forlenza said during the earnings call.
Regarding other new products, Forlenza told investors, "We're very pleased with the early access customer response to BD FACSSymphony, a novel cell analyzer enabling the simultaneous measurement of up to 50 different characteristics of a single cell. BD FACSSymphony offers high speed analysis that is 20 times faster than other non-flow platforms. When combined with our BD Horizon Brilliant or the Sirigen reagent portfolio, these capabilities will allow researchers improved identification and analysis of rare cell types and events."
Related, he also touted the positive market reception of the recently-launched FACSCelesta instrument, a mid-level cell analyzer capable of simultaneous measurements of up to 14 different single cell characteristics. The FACSCelesta system is also designed to work with BD's Horizon Brilliant reagent portfolio.
BD strengthened its Medication Management portfolio by signing a supply agreement with Fresenius to add IV solutions in the U.S. and divesting the BD Rx business to Fresenius.
Forlenza said both the Medication Management and Life Sciences core businesses stand to benefit from the company's planned re-investment of savings gleaned from the suspension of the medical device tax into R&D.
"This critical relief is extremely important to BD, as well as the patients, providers and research communities we serve. While some of the specifics are still being analyzed, we plan to reinvest this tax back into the business, which further supports our innovation strategy," said Forlenza, who mentioned the company's fledgling genomics initiative and Kiestra lab automation business as probable beneficiaries.
BD's $12.2 billion acquisition of CareFusion continues to reap benefits for the company, which has become the global leader in the $20 billion medication management industry after the merger. For the latest quarter, the deal drove up sales for BD, which reported that revenue jumped by 45 percent, reports the Wall Street Journal. In its medical unit, Becton reported that sales grew from $457 million to $1.27 billion year-on-year, while sales in the life sciences division inched higher to $425 million.