Becton Dickinson tops profit estimates on demand for drug-delivery devices
Aug 1 (Reuters) -Becton Dickinson BDX.N reported a better-than-expected third-quarterprofit on Thursday, helped by strong demand for its drug-delivery devices.
Medical technology firms such as Becton, Boston Scientific BSX.N and Abbott Laboratories ABT.N are benefitingfrom a boost in demandas more people, especially older patients, catch up on surgeries that were put on hold during the pandemic.
Becton manufactures and distributes medical and surgical products such as needles, syringes and disposal units.
In June, Becton agreed to buy Edwards Lifesciences' EW.N critical care products unit in an all-cash deal valued at $4.2 billion to bulk up its portfolio of patient-monitoring devices.
The device maker had said the deal was expected to add immediately to all its key financial measures.
Becton's medical unit, the company's largest segment that makes devices to administer drugs, reported a 5.1% rise in quarterly sales to $2.56 billion, aboveanalysts' estimates of $2.52 billion, according to LSEG data.
The New Jersey-based group raised the low end of its full-year adjusted profit forecast range to $13.05 from $12.95, keeping the top end unchanged at $13.15.
The company earned $3.50 per share on an adjusted basis in the third quarter through June 30, beating analysts' estimates of $3.31 per share.
Reporting by Christy Santhosh in Bengaluru; Editing by Maju Samuel
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