aeromarv
11-01-2006, 08:22 AM
i didn't find anything about this when I searched, so I thought I'd post it. I heard from my educator this morning that BD announced it was discontinuing the BD Logic meter. It is unknown I think what will happen with the RF connection to the Minimed pumps. They actuallly announced this back in september (the 28th I think). The following is part of the press release:
"BD (Becton, Dickinson and Company) (NYSE:BDX) announced today that it will exit the blood glucose monitoring (BGM) market. This action impacts BD’s blood glucose monitors and test strips only. BD’s other diabetes products, including insulin syringes, pen needles and lancets, will not be affected.
“We evaluate all of our businesses on an ongoing basis, and this decision was made after careful consideration of our prospects and our ability to create and deliver value in this market,” stated Edward J. Ludwig, Chairman, President and Chief Executive Officer of BD. “We have concluded that our future outlook in an increasingly competitive market does not justify the levels of investment and additional resources necessary to continue. As a result, we made a difficult, but necessary, business decision to exit the blood glucose monitoring market.”
BD entered the blood glucose monitoring market in early 2003 with the introduction of the BD Logic® Blood Glucose Monitor. Distribution of BD Logic monitors will be discontinued immediately. BD is working with suppliers of other blood glucose systems that use BD™ Test Strips to continue to supply compatible meters for a limited period. To ensure that customers have sufficient time to consult with their healthcare teams and transition to new blood glucose monitoring systems, BD Test Strips will be distributed until December 2007.
BD estimates that it will record a pre-tax charge in its fiscal fourth quarter of approximately $50 to $70 million ($33 to $47 million after taxes), or approximately $0.13 to $0.18 per share, in connection with its decision to exit the BGM product line. The charge relates to the write-off of inventory and other assets as well as severance and other exit costs. BD estimates that the fiscal 2006 results represented by BGM will be approximately $105 million in revenues, excluding approximately $10 million associated with lancet products which will remain part of BD’s existing diabetes care product offering, and approximately $0.07 per share in operating losses (not including the aforementioned charge). The Company expects BGM revenues in the range of $30 to $50 million in fiscal year 2007 as customers transition to alternative blood glucose monitoring products. The estimated impact on the Company’s earnings per share in connection with such revenues is not expected to be significant. BD will report its fiscal 2006 consolidated results on Thursday, November 2, 2006.
BD remains solidly committed to its diabetes care business. The Company developed the first syringe dedicated to insulin delivery in 1924 and has made continuous advances ever since, leading to revenue derived from insulin delivery products that exceeds $500 million annually."
"BD (Becton, Dickinson and Company) (NYSE:BDX) announced today that it will exit the blood glucose monitoring (BGM) market. This action impacts BD’s blood glucose monitors and test strips only. BD’s other diabetes products, including insulin syringes, pen needles and lancets, will not be affected.
“We evaluate all of our businesses on an ongoing basis, and this decision was made after careful consideration of our prospects and our ability to create and deliver value in this market,” stated Edward J. Ludwig, Chairman, President and Chief Executive Officer of BD. “We have concluded that our future outlook in an increasingly competitive market does not justify the levels of investment and additional resources necessary to continue. As a result, we made a difficult, but necessary, business decision to exit the blood glucose monitoring market.”
BD entered the blood glucose monitoring market in early 2003 with the introduction of the BD Logic® Blood Glucose Monitor. Distribution of BD Logic monitors will be discontinued immediately. BD is working with suppliers of other blood glucose systems that use BD™ Test Strips to continue to supply compatible meters for a limited period. To ensure that customers have sufficient time to consult with their healthcare teams and transition to new blood glucose monitoring systems, BD Test Strips will be distributed until December 2007.
BD estimates that it will record a pre-tax charge in its fiscal fourth quarter of approximately $50 to $70 million ($33 to $47 million after taxes), or approximately $0.13 to $0.18 per share, in connection with its decision to exit the BGM product line. The charge relates to the write-off of inventory and other assets as well as severance and other exit costs. BD estimates that the fiscal 2006 results represented by BGM will be approximately $105 million in revenues, excluding approximately $10 million associated with lancet products which will remain part of BD’s existing diabetes care product offering, and approximately $0.07 per share in operating losses (not including the aforementioned charge). The Company expects BGM revenues in the range of $30 to $50 million in fiscal year 2007 as customers transition to alternative blood glucose monitoring products. The estimated impact on the Company’s earnings per share in connection with such revenues is not expected to be significant. BD will report its fiscal 2006 consolidated results on Thursday, November 2, 2006.
BD remains solidly committed to its diabetes care business. The Company developed the first syringe dedicated to insulin delivery in 1924 and has made continuous advances ever since, leading to revenue derived from insulin delivery products that exceeds $500 million annually."