| Metric [USD Million] | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 |
|----------------------|---------|---------|---------|---------|---------|---------|---------|---------|
| United States        | **2,730**  **[0000010795-23-000030_bdx-20221231.htm:26]**  | **2,733**  **[0000010795-23-000039_bdx-20230331.htm:30]**  | **2,772**  **[0000010795-23-000075_bdx-20230630.htm:27]**  | **2,879**  **[0000010795-23-000087_ex99109302023.htm:1]**  | **2,749**  **[0000010795-24-000019_bdx-20231231.htm:26]**  | **2,906**  **[0000010795-24-000039_bdx-20240331.htm:27]**  | **2,891**  **[0000010795-24-000067_bdx-20240630.htm:28]**  | **3,117**  **[0000010795-24-000078_ex99109302024.htm:2]**  |
| International        | **1,856**  **[0000010795-23-000030_bdx-20221231.htm:26]**  | **2,088**  **[0000010795-23-000039_bdx-20230331.htm:30]**  | **2,106**  **[0000010795-23-000075_bdx-20230630.htm:27]**  | **2,209**  **[0000010795-23-000087_ex99109302023.htm:1]**  | **1,957**  **[0000010795-24-000019_bdx-20231231.htm:26]**  | **2,139**  **[0000010795-24-000039_bdx-20240331.htm:27]**  | **2,098**  **[0000010795-24-000067_bdx-20240630.htm:28]**  | **2,320**  **[0000010795-24-000078_ex99109302024.htm:2]**  |
| Total Revenues       | **4,586**  **[0000010795-23-000030_bdx-20221231.htm:26]**  | **4,821**  **[0000010795-23-000039_bdx-20230331.htm:30]**  | **4,878**  **[0000010795-23-000075_bdx-20230630.htm:27]**  | **5,087**  **[0000010795-23-000087_ex99109302023.htm:1]**  | **4,706**  **[0000010795-24-000019_bdx-20231231.htm:26]**  | **5,045**  **[0000010795-24-000039_bdx-20240331.htm:27]**  | **4,990**  **[0000010795-24-000067_bdx-20240630.htm:28]**  | **5,437**  **[0000010795-24-000078_ex99109302024.htm:2]**  |

c638366c458e48ad624dbde2bef9d2ae2568f2abecab9f3455cdad73d4b656f8

Product Liability Claims **[0000010795-23-000030_bdx-20221231.htm:10]****[0000010795-23-000039_bdx-20230331.htm:11]****[0000010795-23-000075_bdx-20230630.htm:9]****[0000010795-23-000098_bdx-20230930.htm:93]****[0000010795-24-000019_bdx-20231231.htm:8]****[0000010795-24-000039_bdx-20240331.htm:8]****[0000010795-24-000067_bdx-20240630.htm:8]****[0000010795-24-000084_bdx-20240930.htm:106]**

7f30bed14f6c5e74d1002669e0be7b8115f5eae52f414e160219f15346aa12b5

| Segment / Metric (USD Million) | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 |
|-------------------------------|---------|---------|---------|---------|---------|---------|---------|---------|
| **BD Medical**                | 2,200  **[BDX_3226471_3]**  | 2,360  **[0000010795-23-000038_ex99103312023.htm:3]**  | 2,434  **[0000010795-23-000075_bdx-20230630.htm:24]**  | 2,554  **[0000010795-23-000087_ex99109302023.htm:2]**  | 2,230  **[0000010795-24-000015_ex99112312023.htm:0]**  | 2,449  **[0000010795-24-000039_bdx-20240331.htm:25]**  | 2,558  **[0000010795-24-000067_bdx-20240630.htm:26]**  | 2,837  **[0000010795-24-000078_ex99109302024.htm:2]**  |
| - Medication Delivery Solutions | 1,039  **[0000010795-23-000030_bdx-20221231.htm:23]**  | N/A | N/A | N/A | 1,052  **[0000010795-24-000019_bdx-20231231.htm:24]**  | 1,107  **[0000010795-24-000039_bdx-20240331.htm:25]**  | 1,123  **[0000010795-24-000067_bdx-20240630.htm:26]**  | N/A |
| - Medication Management Solutions | 706  **[0000010795-23-000030_bdx-20221231.htm:23]**  | N/A | N/A | N/A | 747  **[0000010795-24-000019_bdx-20231231.htm:24]**  | 772  **[0000010795-24-000039_bdx-20240331.htm:25]**  | 840  **[0000010795-24-000067_bdx-20240630.htm:26]**  | N/A |
| - Pharmaceutical Systems      | 409  **[0000010795-23-000030_bdx-20221231.htm:23]**  | N/A | N/A | N/A | 431  **[0000010795-24-000019_bdx-20231231.htm:24]**  | 570  **[0000010795-24-000039_bdx-20240331.htm:25]**  | 594  **[0000010795-24-000067_bdx-20240630.htm:26]**  | N/A |
| **BD Life Sciences**          | 1,300  **[BDX_3226471_3]**  | 1,275  **[0000010795-23-000038_ex99103312023.htm:3]**  | 1,226  **[0000010795-23-000075_bdx-20230630.htm:25]**  | 1,330  **[0000010795-23-000087_ex99109302023.htm:2]**  | 1,288  **[0000010795-24-000015_ex99112312023.htm:0]**  | 1,304  **[0000010795-24-000039_bdx-20240331.htm:25]**  | 1,260  **[0000010795-24-000067_bdx-20240630.htm:26]**  | 1,340  **[0000010795-24-000078_ex99109302024.htm:2]**  |
| - Integrated Diagnostic Solutions | 952  **[0000010795-23-000030_bdx-20221231.htm:24]**  | N/A | N/A | N/A | 913  **[0000010795-24-000019_bdx-20231231.htm:24]**  | 927  **[0000010795-24-000039_bdx-20240331.htm:25]**  | 896  **[0000010795-24-000067_bdx-20240630.htm:26]**  | N/A |
| - Biosciences                 | 349  **[0000010795-23-000030_bdx-20221231.htm:24]**  | N/A | N/A | N/A | 375  **[0000010795-24-000019_bdx-20231231.htm:24]**  | 377  **[0000010795-24-000039_bdx-20240331.htm:25]**  | 363  **[0000010795-24-000067_bdx-20240630.htm:26]**  | N/A |
| **BD Interventional**         | 1,100  **[BDX_3226471_4]**  | 1,186  **[0000010795-23-000038_ex99103312023.htm:3]**  | 1,218  **[0000010795-23-000075_bdx-20230630.htm:26]**  | 1,203  **[0000010795-23-000087_ex99109302023.htm:2]**  | 1,188  **[0000010795-24-000015_ex99112312023.htm:0]**  | 1,292  **[0000010795-24-000039_bdx-20240331.htm:26]**  | 1,240  **[0000010795-24-000067_bdx-20240630.htm:26]**  | 1,260  **[0000010795-24-000078_ex99109302024.htm:2]**  |
| - Surgery                     | 363  **[0000010795-23-000030_bdx-20221231.htm:25]**  | N/A | N/A | N/A | 369  **[0000010795-24-000019_bdx-20231231.htm:25]**  | 379  **[0000010795-24-000039_bdx-20240331.htm:26]**  | 376  **[0000010795-24-000067_bdx-20240630.htm:26]**  | N/A |
| - Peripheral Intervention     | 433  **[0000010795-23-000030_bdx-20221231.htm:25]**  | N/A | N/A | N/A | 454  **[0000010795-24-000019_bdx-20231231.htm:25]**  | 489  **[0000010795-24-000039_bdx-20240331.htm:26]**  | 488  **[0000010795-24-000067_bdx-20240630.htm:26]**  | N/A |
| - Urology and Critical Care   | 333  **[0000010795-23-000030_bdx-20221231.htm:25]**  | N/A | N/A | N/A | 365  **[0000010795-24-000019_bdx-20231231.htm:25]**  | 424  **[0000010795-24-000039_bdx-20240331.htm:26]**  | 375  **[0000010795-24-000067_bdx-20240630.htm:26]**  | N/A |
| **Total Revenue**             | 4,600  **[0000010795-23-000026_ex99112312022.htm:0]**  | 4,821  **[0000010795-23-000038_ex99103312023.htm:3]**  | 4,878  **[0000010795-23-000075_bdx-20230630.htm:27]**  | 5,087  **[0000010795-23-000087_ex99109302023.htm:1]**  | 4,706  **[0000010795-24-000015_ex99112312023.htm:0]**  | 5,045  **[0000010795-24-000036_ex99103312024.htm:0]**  | 4,990  **[0000010795-24-000067_bdx-20240630.htm:26]**  | 5,437  **[0000010795-24-000078_ex99109302024.htm:2]**  |

5440784bc123ab2a8f9d84ccd3bbbeddd88a9fd1dfd8d20d58de114790ffc9d1

Total Revenue [USD, Millions]

Cost of Goods Sold (COGS) [USD, Millions]

Selling, General, and Administrative Expenses (SG&A) [USD, Millions]

Research and Development (R&D) [USD, Millions]

Depreciation and Amortization (D&A) [USD, Millions]

Interest Expense [USD, Millions]

Operating Income (EBIT) [USD, Millions]

Net Income [USD, Millions]

Earnings Per Share (EPS) - Basic [USD]

Earnings Per Share (EPS) - Diluted [USD]

a6c932f99607251a5d0b5463f2c3e830ead51c9119d12c74e6cf53ca8d0b36db

Adjustments for Non-Cash Items [USD, Millions]

Stock-Based Compensation [USD, Millions]

Changes in Working Capital [USD, Millions]

Capital Expenditures (CapEx) [USD, Millions]

Proceeds from Debt [USD, Millions]

Repayments of Debt [USD, Millions]

Share Repurchases [USD, Millions]

Dividend Payments [USD, Millions]

Net Change in Cash [USD, Millions]

d80159aa77c9c8669c2b468ad7a76fddd66ca411084116aae97b003b4e3774d1

Becton, Dickinson and Company (BD) is a global medical technology company that develops, manufactures, and sells a wide range of medical supplies, devices, laboratory equipment, and diagnostic products **[0000010795-24-000084_bdx-20240930.htm:57]** **[0000010795-24-000067_bdx-20240630.htm:23]** **[0000010795-24-000084_bdx-20240930.htm:3]** **[0000010795-24-000067_bdx-20240630.htm:15]** **[0000010795-24-000039_bdx-20240331.htm:15]** **[0000010795-24-000084_bdx-20240930.htm:116]** **[0000010795-24-000084_bdx-20240930.htm:5]**. The company operates through three principal business segments: BD Medical, BD Life Sciences, and BD Interventional **[0000010795-24-000084_bdx-20240930.htm:57]** **[0000010795-24-000067_bdx-20240630.htm:23]** **[0000010795-24-000084_bdx-20240930.htm:3]** **[0000010795-24-000067_bdx-20240630.htm:15]** **[0000010795-24-000039_bdx-20240331.htm:15]** **[0000010795-24-000084_bdx-20240930.htm:116]** **[0000010795-24-000084_bdx-20240930.htm:5]**. BD's products are marketed and sold worldwide, with operations organized into regions such as EMEA, Greater Asia, Latin America, and Canada **[0000010795-24-000084_bdx-20240930.htm:57]** **[0000010795-24-000067_bdx-20240630.htm:23]** **[0000010795-24-000084_bdx-20240930.htm:7]**.

1. **BD Medical** - Provides medication delivery solutions, medication management systems, pharmaceutical systems, and advanced patient monitoring products, serving hospitals, clinics, and other healthcare providers.
   - *Medication Delivery Solutions* - Offers products like infusion pumps and syringes.
   - *Medication Management Solutions* - Focuses on systems for managing medication.
   - *Pharmaceutical Systems* - Develops systems for pharmaceutical applications.
   - *Advanced Patient Monitoring* - Supplies monitoring solutions for patient care.

2. **BD Life Sciences** - Supplies products for specimen collection, diagnostic systems, and research tools, catering to hospitals, laboratories, and research institutions.
   - *Integrated Diagnostic Solutions* - Provides comprehensive diagnostic solutions.
   - *Biosciences* - Offers tools and systems for biological research.

3. **BD Interventional** - Delivers vascular, urology, oncology, and surgical specialty products, including surgery, peripheral intervention, and urology and critical care units.
   - *Surgery* - Offers surgical specialty products.
   - *Peripheral Intervention* - Provides solutions for vascular interventions.
   - *Urology and Critical Care* - Supplies products for urology and critical care needs.

1e328d35745bc0b24f2ade77a6fd9416e78722cacccf231f26d12d85d04f6a58

c77924c0e81621bef7d342b2989da21999f04d13a4215236e63c11be769413ae

1. You expect a mid-single-digit decrease in China revenues for fiscal year 2025 due to market dynamics  **[BDX_3406461_6]** ; can you elaborate on the specific challenges in China and the strategies you have in place to mitigate these headwinds?

2. Given the transitory dynamics affecting your bioscience pharma businesses, resulting in lower market demand for research instruments and reagents  **[BDX_3406461_4]** ; how do you plan to drive growth in this segment amid these challenges?

3. With strong growth in biologic drug delivery sales driven by GLP-1 demand, but noting expected customer inventory destocking impacting Pharma Systems  **[BDX_3406461_4]** ; what measures are you taking to address potential overreliance on specific therapies and ensure sustainable growth in the Pharma Systems segment?

4. You are increasing investments in AI and plan to launch AI-enabled devices across your platforms  **[BDX_3406461_13]** ; can you discuss how these investments will impact your top-line growth and operational efficiency, and what is the expected return on investment in the near term?

5. You announced a $1 billion share repurchase program while also focusing on capitalizing the value from the Advanced Patient Monitoring acquisition and managing net leverage  **[BDX_3406461_1]** ; how do you balance these capital allocation priorities, and does this indicate a temporary shift away from tuck-in acquisitions due to valuation concerns or integration capacity?

e34339798bb7fd2eb5e0ba89af732a3387c35d6233c3f5715229e3e1e4eb927e

United States

International

- Emerging Markets

EMEA (Europe, Middle East, Africa)

Greater Asia

Other (Latin America and Canada)

Total Revenue

2836269ed16c9de65dde6fe860935aa2bfe55cfa0f4ce7ec737af089ee2c79b7

### Q4 2024 Earnings Call
- **Issued Period**: Q4 2024
- **Guided Period**: FY 2025
- **Guidance**:
  1. **Revenue Growth**: Total revenues expected to be **$21.9 billion to $22.1 billion**; currency-neutral adjusted revenue growth of **8.8% to 9.3%**; organic revenue growth of **4% to 4.5%**  **[BDX_3406461_6]** .
  2. **Adjusted Operating Margin**: Expected to expand by about **100 basis points**  **[BDX_3406461_6]** .
  3. **Adjusted Diluted EPS**: Expected to be **$14.25 to $14.60**  **[BDX_3406461_6]** .
  4. **Tax Rate**: Adjusted effective tax rate expected to be **14% to 15.5%**  **[BDX_3406461_6]** .
  5. **Interest Expense**: Expected to increase year-over-year  **[BDX_3406461_6]** .
  6. **Free Cash Flow Conversion**: Expected to be around **75%**  **[BDX_3406461_5]** .
  7. **Phasing**: First half revenue growth below low end, second half above high end  **[BDX_3406461_6]** .

### Q3 2024 Earnings Call
- **Issued Period**: Q3 2024
- **Guided Period**: FY 2024 and FY 2025
- **Guidance**:
  1. **Organic Revenue Growth**: Expected to be **5% to 5.25%** for FY 2024  **[BDX_3395653_5]** .
  2. **Adjusted Diluted EPS**: Raised to **$13.05 to $13.15**  **[BDX_3395653_5]** .
  3. **Adjusted Operating Margin**: Improvement of over **50 basis points**, implying margins over **24%**  **[BDX_3395653_5]** .
  4. **Free Cash Flow Conversion**: Above **80%**  **[BDX_3395653_5]** .
  5. **Net Leverage**: Improved to **2.4x**  **[BDX_3395653_5]** .
  6. **Cash and Short-term Investments**: Totaled **$5.3 billion**  **[BDX_3395653_5]** .
  7. **Fiscal Year 2025 Outlook**: Exceeding **25% adjusted operating margin goal** and **10% EPS growth**  **[BDX_3395653_5]** .

### Q2 2024 Earnings Call
- **Issued Period**: Q2 2024
- **Guided Period**: FY 2024
- **Guidance**:
  1. **Organic Revenue Growth**: Maintained at **5.5% to 6.25%**  **[BDX_3382096_4]** .
  2. **Adjusted Diluted EPS**: Raised to **$12.95 to $13.15**  **[BDX_3382096_4]** .
  3. **Foreign Currency Impact**: Headwind of **40 basis points**  **[BDX_3382096_4]** .
  4. **Second Half Organic Sales Growth**: About **7.5%**  **[BDX_3382096_4]** .
  5. **Alaris Revenue Contribution**: Over **100 basis points** or at least **$300 million**  **[BDX_3382096_4]** .
  6. **Adjusted Operating Margin**: Improvement of at least **50 basis points**  **[BDX_3382096_4]** .
  7. **Tax Rate**: Expected to be about **15%**  **[BDX_3382096_4]** .

### Q1 2024 Earnings Call
- **Issued Period**: Q1 2024
- **Guided Period**: FY 2024
- **Guidance**:
  1. **Organic Revenue Growth**: Expected to be **5.5% to 6.25%**  **[BDX_3371537_5]** .
  2. **Adjusted Diluted EPS**: Expected to be **$12.82 to $13.06**  **[BDX_3371537_5]** .
  3. **Foreign Currency Impact**: Headwind of **25 basis points** to revenues and **360 basis points** to EPS growth  **[BDX_3371537_5]** .
  4. **Q2 Adjusted Operating Margin**: Expected to expand by **25 to 50 basis points**  **[BDX_3371537_5]** .
  5. **Q2 Tax Rate**: Expected to be nearly **17%**  **[BDX_3371537_5]** .
  6. **Adjusted Operating Margin Improvement**: About **50 basis points** for the year  **[BDX_3371537_5]** .
  7. **Free Cash Flow Growth**: Expected to be double-digit  **[BDX_3371537_5]** .

16a4ef742d63d372321c4156c1cee3f5a59e1d74856da31a3412515cc2b66a56

a18b28b39c29b52db20abe0a5b49656ec5e776556d3fbddb925fba494d2b40c3

16b0ac92360762d35218197fe155db4facb8a724e12fca81980ac7d2d8b39527

23794d91c53ae875c8e247d72561e35d9d06ee07c70c9e0dbcc977a6d161504a

**Annual guidance for FY 2025:**
- **Revenue Growth**: $21.9B to $22.1B (currency-neutral adjusted 8.8% to 9.3%, organic 4% to 4.5%)  **[BDX_3406461_6]**  (no prior guidance)  
- **Adjusted Operating Margin**: Expected to expand by about 100 basis points  **[BDX_3406461_6]**  (no change from “exceeding 25%”  **[BDX_3395653_5]** )  
- **Adjusted Diluted EPS**: $14.25 to $14.60  **[BDX_3406461_6]**  (no change from implied ~10% growth  **[BDX_3395653_5]** )  
- **Tax Rate**: 14% to 15.5%  **[BDX_3406461_6]**  (no prior guidance)  
- **Interest Expense**: Expected to increase year-over-year  **[BDX_3406461_6]**  (no prior guidance)  
- **Free Cash Flow Conversion**: Expected to be around 75%  **[BDX_3406461_5]**  (no prior guidance)  
- **Phasing**: First half revenue growth below low end, second half above high end  **[BDX_3406461_6]**  (no prior guidance)  

b1555c40a1f6acb29f7a9a0648a83c04924d0342b6afc25d457dcf1dc8dce273

| Name                  | Position                                                                 | Start Date       | Short Bio                                                                                                                                                                                                 |
|-----------------------|--------------------------------------------------------------------------|------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Thomas E. Polen       | Chairman, Chief Executive Officer, and President                         | CEO: Jan 2020    | Thomas E. Polen has been with BD for over 20 years. He became CEO in January 2020 and Chairman in April 2021. He has served as BD's President since April 2017 and was the COO from October 2018 to January 2020  **[0000010795-23-000118_bdx-20231214.htm:13]** **[0000010795-22-000084_a2023proxystatementoldprox.htm:13]** **[0000010795-23-000098_bdx-20230930.htm:39]** .                     |
| Richard Byrd          | Executive Vice President and President, Interventional Segment           | Sep 2022         | Richard Byrd has been the Executive Vice President and President of the Interventional Segment since September 2022. He was previously the Worldwide President of BD Medication Delivery Solutions from March 2019 to September 2022  **[0000010795-24-000084_bdx-20240930.htm:47]** **[0000010795-23-000098_bdx-20230930.htm:39]** **[0001628280-22-030686_bdx-20220930.htm:40]** . |
| Christopher J. DelOrefice | Executive Vice President and Chief Financial Officer                  | Sep 2021         | Christopher J. DelOrefice has been serving as the Executive Vice President and Chief Financial Officer since September 2021. He was previously Vice President of Investor Relations at Johnson & Johnson  **[0000010795-24-000084_bdx-20240930.htm:47]** **[0000010795-23-000098_bdx-20230930.htm:39]** .                                 |
| Antoine C. Ezell      | Executive Vice President, President of the Americas, and Chief Marketing Officer | Oct 2020         | Antoine C. Ezell has held his current position since October 2020. He was previously the Executive Vice President and Chief Marketing Officer from January 2020 to October 2020  **[0000010795-24-000084_bdx-20240930.htm:47]** **[0000010795-23-000098_bdx-20230930.htm:39]** **[0001628280-22-030686_bdx-20220930.htm:40]** .                                                       |
| Michael Feld          | Executive Vice President and President, Life Sciences                    | Aug 2024         | Michael Feld began his role in August 2024. He was previously President of Hach (Veralto Corporation) from September 2023 to August 2024  **[0000010795-24-000084_bdx-20240930.htm:47]** .                                                                                                    |
| Michael Garrison      | Executive Vice President and President, Medical Segment                  | Sep 2022         | Michael Garrison has been in this role since September 2022. He was previously the Worldwide President of BD Medication Management Solutions from March 2020 to September 2022  **[0000010795-24-000084_bdx-20240930.htm:47]** **[BDX_3369307_1]** **[0000010795-23-000098_bdx-20230930.htm:39]** .                                                       |
| Roland Goette         | Executive Vice President and President, EMEA                             | May 2017         | Roland Goette has held this position since May 2017  **[0000010795-24-000084_bdx-20240930.htm:47]** **[0000010795-23-000098_bdx-20230930.htm:39]** .                                                                                                                                               |
| Pavan Mocherla        | Executive Vice President and President, Greater Asia                     | July 2022        | Pavan Mocherla has held this position since July 2022. He was previously the Country General Manager, South Asia/Managing Director from December 2017 to June 2022  **[0000010795-23-000098_bdx-20230930.htm:39]** .                                                                          |
| Shana Neal            | Executive Vice President and Chief People Officer                        | Apr 2022         | Shana Neal joined BD as the Executive Vice President and Chief People Officer on April 4, 2022. She was previously the Chief Human Resources Officer at Owens & Minor  **[0000010795-24-000084_bdx-20240930.htm:47]** **[0000010795-23-000118_bdx-20231214.htm:57]** **[0000010795-23-000098_bdx-20230930.htm:39]** .                                                                |
| Michelle Quinn        | Executive Vice President and General Counsel                             | Apr 2023         | Michelle Quinn has been serving as the Executive Vice President and General Counsel since April 2023. She was previously the Senior Vice President, Deputy General Counsel, and Chief Ethics and Compliance Officer  **[0000010795-24-000084_bdx-20240930.htm:47]** .                        |
| David Shan            | Executive Vice President and Chief Integrated Supply Chain Officer       | Jan 2023         | David Shan has held this position since January 2023. He was previously the Executive Vice President and Chief Quality Officer from March 2020 to August 2023  **[0000010795-24-000084_bdx-20240930.htm:47]** **[0000010795-23-000098_bdx-20230930.htm:39]** .                                                                            |
| Dave Hickey           | Executive Vice President and President, Life Sciences (retiring)         | Jan 2021         | Dave Hickey has been in this role since January 2021 and announced his retirement effective July 1, 2024. He joined BD in 2014 after various leadership roles at Siemens Healthcare  **[0000010795-24-000024_bd_newsxhickeyxdraftxfinal.htm:0]** **[0000010795-24-000024_bdx-20240222.htm:1]** .                                                      |
| Thomas Spoerel        | Senior Vice President, CFO Regions                                       | Aug 30, 2024     | Thomas Spoerel was appointed to this position effective August 30, 2024. He was previously the Senior Vice President and Controller, Chief Accounting Officer, and International Chief Financial Officer at BD  **[0000950103-24-012970_dp217297_8k.htm:1]** **[0000010795-23-000101_forms-82004plannovember212.htm:6]** .                         |
| Katie Szyman          | Leader of the Critical Care business unit within BD's Medical segment    | 2015             | Katie Szyman has been serving as the leader of the Critical Care business unit since the acquisition of Edwards Lifesciences' Critical Care product group by BD. She has been with the unit since 2015  **[0000010795-24-000044_bd_newsxcriticalxcarexacqu.htm:0]** **[0000010795-24-000044_bd_newsxcriticalxcarexacqu.htm:1]** .                                 |

f03b8bb5a1602746041226f4e74b832fb62fd29630e98988c3e037443e79734e

| Program Details          | Program 1          | Program 2          |
|--------------------------|--------------------|--------------------|
| Approval Date            | September 24, 2013  **[0000010795-24-000084_bdx-20240930.htm:104]**  | November 3, 2021  **[0000010795-24-000084_bdx-20240930.htm:104]**  |
| End Date/Duration        | Fully utilized as of September 30, 2022  **[0000010795-24-000084_bdx-20240930.htm:104]**  | No expiration date  **[0000010795-24-000084_bdx-20240930.htm:104]**  |
| Total additional amount  | 10 million shares  **[0000010795-24-000084_bdx-20240930.htm:104]**  | 10 million shares  **[0000010795-24-000084_bdx-20240930.htm:104]**  |
| Remaining authorization amount | None  **[0000010795-24-000084_bdx-20240930.htm:104]**  | **6,681,777 shares** as of September 30, 2024  **[0000010795-24-000084_bdx-20240930.htm:104]** **[0000010795-24-000084_bdx-20240930.htm:56]**  |
| Details                  | N/A                | Part of capital allocation strategy, supported by strong margins and healthy cash flow  **[BDX_3406461_15]**  |

4f1aa4e17c22a356db5b6d314dea61315ea5b7690515e9a9405cb0f7e2342e53

| Name              | Start Date | End Date | Reason for Change |
|-------------------|------------|----------|-------------------|
| Ernst & Young LLP | 1959  **[0000010795-24-000084_bdx-20240930.htm:90]**    | Present  | Current auditor   |

4ac6f29b15ac46579cae4b1a02e9a75070c96af17ee88481cdeae75faa03d9bd

- Total Revenue: $5,437 million (+~7% YoY)  **[0000010795-23-000098_bdx-20230930.htm:103]** **[0000010795-24-000084_bdx-20240930.htm:120]**   
- United States Revenue: $3,117 million (+~8% YoY)  **[0000010795-23-000098_bdx-20230930.htm:103]** **[0000010795-24-000084_bdx-20240930.htm:120]**   
- Medical Segment: $2,837 million (+~11% YoY)  **[0000010795-23-000098_bdx-20230930.htm:103]** **[0000010795-24-000084_bdx-20240930.htm:120]**   
  • Medication Management Solutions: $938 million (**+~18% YoY**)  **[0000010795-23-000098_bdx-20230930.htm:103]** **[0000010795-24-000084_bdx-20240930.htm:120]**   
  • Urology and Critical Care: $39 million (**-~89% YoY**)  **[0000010795-23-000098_bdx-20230930.htm:103]** **[0000010795-24-000084_bdx-20240930.htm:120]**   
- Net Income: $4 million (**-~96% YoY**)  **[0000010795-23-000098_bdx-20230930.htm:79]** **[0000010795-24-000084_bdx-20240930.htm:93]** **[0000010795-24-000084_bdx-20240930.htm:96]**   
- EPS (Basic): $1.38 (**+~294% YoY**)  **[0000010795-23-000098_bdx-20230930.htm:79]** **[0000010795-24-000084_bdx-20240930.htm:93]**   

1689a625f83c2b1aa12d440866f8abdb73e3ecc0e13c3e72ce94e42f51a6f336

bc1729bb54028160e287cfa5194ac8c344d3d662433b3122691b6bf4c81e3818

6d2bcd263d04b239967b53ae682d5ab27655278ecf1a92d403663c826e7d84d8

| Year | Amount Due (Millions) | Debt Type                                   | Interest Rate (%) | % of Total Debt |
|----------|---------------------------|------------------------------------------------|-----------------------|---------------------|
| 2024     | 875 **[0000010795-24-000084_bdx-20240930.htm:137]**               | 3.734% Notes due December 15, 2024 **[0000010795-24-000084_bdx-20240930.htm:137]**     | 3.734 **[0000010795-24-000084_bdx-20240930.htm:137]**         | 4.4% = (875 / 20,110) * 100  **[0000010795-24-000084_bdx-20240930.htm:95]** **[0000010795-24-000084_bdx-20240930.htm:72]**  **[0000010795-24-000084_bdx-20240930.htm:137]** |
| 2025     | 335 **[0000010795-24-000084_bdx-20240930.htm:137]**               | 3.020% Notes due May 24, 2025 **[0000010795-24-000084_bdx-20240930.htm:137]**          | 3.020 **[0000010795-24-000084_bdx-20240930.htm:137]**         | 1.7% = (335 / 20,110) * 100  **[0000010795-24-000084_bdx-20240930.htm:95]** **[0000010795-24-000084_bdx-20240930.htm:72]**  **[0000010795-24-000084_bdx-20240930.htm:137]** |
| 2025     | 559 **[0000010795-24-000084_bdx-20240930.htm:137]**               | 0.034% Notes due August 13, 2025 **[0000010795-24-000084_bdx-20240930.htm:137]**       | 0.034 **[0000010795-24-000084_bdx-20240930.htm:137]**         | 2.8% = (559 / 20,110) * 100  **[0000010795-24-000084_bdx-20240930.htm:95]** **[0000010795-24-000084_bdx-20240930.htm:72]**  **[0000010795-24-000084_bdx-20240930.htm:137]** |
| 2025     | 2,824 **[0000010795-24-000084_bdx-20240930.htm:137]**             | Long-term maturities **[0000010795-24-000084_bdx-20240930.htm:137]**                   | N/A                   | 14.0% = (2,824 / 20,110) * 100  **[0000010795-24-000084_bdx-20240930.htm:95]** **[0000010795-24-000084_bdx-20240930.htm:72]**  **[0000010795-24-000084_bdx-20240930.htm:137]** |
| 2026     | 1,297 **[0000010795-24-000084_bdx-20240930.htm:137]**             | Long-term maturities **[0000010795-24-000084_bdx-20240930.htm:137]**                   | N/A                   | 6.4% = (1,297 / 20,110) * 100  **[0000010795-24-000084_bdx-20240930.htm:95]** **[0000010795-24-000084_bdx-20240930.htm:72]**  **[0000010795-24-000084_bdx-20240930.htm:137]** |
| 2027     | 3,136 **[0000010795-24-000084_bdx-20240930.htm:137]**             | Long-term maturities **[0000010795-24-000084_bdx-20240930.htm:137]**                   | N/A                   | 15.6% = (3,136 / 20,110) * 100  **[0000010795-24-000084_bdx-20240930.htm:95]** **[0000010795-24-000084_bdx-20240930.htm:72]**  **[0000010795-24-000084_bdx-20240930.htm:137]** |
| 2028     | 2,434 **[0000010795-24-000084_bdx-20240930.htm:137]**             | Long-term maturities **[0000010795-24-000084_bdx-20240930.htm:137]**                   | N/A                   | 12.1% = (2,434 / 20,110) * 100  **[0000010795-24-000084_bdx-20240930.htm:95]** **[0000010795-24-000084_bdx-20240930.htm:72]**  **[0000010795-24-000084_bdx-20240930.htm:137]** |
| 2029     | 2,581 **[0000010795-24-000084_bdx-20240930.htm:137]**             | Long-term maturities **[0000010795-24-000084_bdx-20240930.htm:137]**                   | N/A                   | 12.8% = (2,581 / 20,110) * 100  **[0000010795-24-000084_bdx-20240930.htm:95]** **[0000010795-24-000084_bdx-20240930.htm:72]**  **[0000010795-24-000084_bdx-20240930.htm:137]** |

99e5962bca13a74e58b9c79b0ada1f19a41c81435f7ec1669f056b575e84a52f

- **Strong Margin Progression and Increased EPS Guidance**: BD exceeded margins and earnings goals, leading to an increase in EPS guidance by **$0.09** at the midpoint. This was driven by good execution on margin improvement initiatives and strong SG&A expense leverage. The company has confidence in its ability to achieve margin expansion targets and continues to focus on cost improvement programs.  **[BDX_3371537_7]** **[BDX_3371537_14]** **[BDX_3371537_9]** **[BDX_3371537_6]**
- **Growth in High-Potential Areas and Strong Order Books**: BD is experiencing strong growth in areas like **Pharmacy Automation**, **PureWick**, **Molecular Diagnostics**, and **Pharmaceutical Systems**. The order book looks good, and they expect continued growth throughout the year. For instance, **Pharmacy Automation** is projected to grow **double digits**.  **[BDX_3371537_16]** **[BDX_3371537_12]** **[BDX_3371537_17]** **[BDX_3371537_6]**
- **Positive Outlook on Alaris System and China's Performance**: The return of the **Alaris infusion system** is contributing to growth, with customer response being very positive and momentum strong. Additionally, despite Value-Based Procurement (VBP) challenges, BD is seeing strong growth in China, particularly in BD Interventional with **mid-teens growth**, and expects this trend to continue. The company now sees **$200 million** as the floor for Alaris revenue in fiscal '24.  **[BDX_3371537_13]** **[BDX_3371537_12]** **[BDX_3371537_15]** **[BDX_3371537_6]**

32f364e434f5b86f6bb647a51d09bc6dae4443f21fae4d79f848165e91a2bfe2

- **BD announced a $1 billion share repurchase program over the next 12-18 months and increased its dividend by 9.5%**, reflecting strong free cash flow growth and a commitment to returning capital to shareholders.  **[BDX_3406461_15]**
- **BD crossed $1 billion in biologic drug delivery sales**, driven by increased manufacturing capacity to serve growing **GLP-1** demand, positioning the company well in high-growth markets.  **[BDX_3406461_10]**
- BD is investing in innovative technologies, including **AI-enabled devices and advanced patient monitoring**, expecting **100 basis points of operating margin improvement** primarily from gross margin enhancements, indicating strong operational performance and future growth potential.  **[BDX_3406461_13]** **[BDX_3406461_12]**

ca292ca0705db122ebac0829be1cb10b547537f91ba14f78d6d5d6eb340915c1

1. **Alaris Sales Performance and Outlook**  
   **Q:** Did Alaris meet FY24 goals, and what's the FY25 outlook?  
   **A:** Alaris exceeded the **$350 million** target for fiscal '24.  **[BDX_3406461_8]**  Integration is progressing well, and we expect continued strong growth in Alaris for FY25, returning to normal operations and effectively serving customers.  **[BDX_3406461_8]** 

2. **Confidence in Revenue Growth Acceleration**  
   **Q:** Can you still accelerate revenue growth despite tough comps?  
   **A:** We are confident in our growth trajectory.  **[BDX_3406461_9]**  While Q1 growth rates will be lower due to market dynamics and tough comparisons, we anticipate revenue acceleration over the year, with balanced earnings growth and strong margins starting in Q1.  **[BDX_3406461_9]** 

3. **Pharma Biosciences in China and Q1 Phasing**  
   **Q:** Are pharma biosciences trends flat, and what's the Q1 impact?  
   **A:** Our pharma biosciences performed competitively.  **[BDX_3406461_7]**  In China, we've built in a **mid-single-digit decline** into our FY25 guidance, assuming strong volume growth but offset by pricing impacts from value-based procurement.  **[BDX_3406461_7]**  Revenue growth in the first half will be below the full-year guidance range, with Q1 growth lower due to market dynamics and prior-year comparisons.  **[BDX_3406461_7]** 

224f6464dea6afed45cbe02a24d22c3d21b213c09c3f221b2306b3edf4a0873e

1. **Second Half Revenue and Margin Outlook**  
   **Q:** What's driving the needed revenue and margin ramp in the second half?  
   **A:** Management expects strong acceleration in revenue in the second half, with growth of about **7.5%** at the midpoint of guidance, driven by momentum in **Alaris**, which is expected to contribute nearly **250 basis points** to second half growth, amounting to at least **$300 million** for the full year.  **[BDX_3382096_5]**  Excluding Alaris, the rest of the BD portfolio needs to grow just over **5%**, which they feel confident about due to strong areas of momentum like **PureWick** and core consumables.  **[BDX_3382096_5]**  On margins, they had strong execution in the quarter, over-delivering two quarters in a row, and are on track to deliver at least **50 basis points** increase year-over-year, achieving just over **24%**.  **[BDX_3382096_5]**  They highlight that certain one-time items affecting the first half are behind them, and they expect continued strong cost improvements.  **[BDX_3382096_5]** 

2. **Alaris Revenue Contribution**  
   **Q:** What's the implied exit rate for Alaris revenue in Q4?  
   **A:** While they don't provide quarterly guidance by product line, current guidance implies over **$300 million**, actually closer to **$350 million**, for **Alaris** this year.  **[BDX_3382096_7]**  They've previously stated that they expect fiscal year '25 to be at least at their historical run rate of around **$400 million**.  **[BDX_3382096_7]**  For Q3, they expect total growth, including Alaris, of at least **6%**, with a sequential step-up in Q4, a portion of which will be driven by Alaris.  **[BDX_3382096_7]** 

3. **Confidence in 2025 Operating Margin Goal**  
   **Q:** Can you discuss your confidence in achieving the 25% operating margin goal by fiscal 2025?  
   **A:** Management remains committed to the **BD 2025** goals, including delivering a **25%** operating margin by 2025.  **[BDX_3382096_8]**  They are confident due to the momentum from their **BD Excellence** initiatives and strong cost improvements.  **[BDX_3382096_8]**  The improvement will come largely from gross margin enhancements driven by reducing waste and improving yield in manufacturing.  **[BDX_3382096_8]** 

4. **Risks to Second Half Ramp**  
   **Q:** What risks do you see to the revenue and margin ramp in the second half?  
   **A:** They feel confident due to exiting one-time items from the first half and having strong visibility into cost improvements and **Alaris** progression.  **[BDX_3382096_9]**  While they continue to monitor market dynamics, overall they believe they are well-positioned to achieve their guidance.  **[BDX_3382096_9]** 

5. **Alaris and Pyxis Enhancements**  
   **Q:** Can you discuss the importance of upcoming Alaris and Pyxis submissions?  
   **A:** Management is excited to be back at an innovation cadence with **Alaris**.  **[BDX_3382096_10]**  The next **510(k)** submission later this calendar year will include customer benefits like **over-the-air software upgrades** and advanced cybersecurity features.  **[BDX_3382096_10]**  Regarding **Pyxis**, they are launching a new hardware platform that significantly advances their cloud strategy and connectivity, with advanced analytics and hardware features.  **[BDX_3382096_10]**  This is the first new Pyxis instrument in over **15 years**.  **[BDX_3382096_10]** 

6. **Underlying Trends in Pharm Systems and MMS**  
   **Q:** How are underlying trends in Pharm Systems and MMS affecting performance?  
   **A:** Management acknowledges transitory market dynamics in the life science research area and B2B pharma systems due to **destocking** in certain areas.  **[BDX_3382096_6]**  However, they highlight strong double-digit growth in **biologics**, which now represent over **40%** of the Pharm Systems business, approaching **$1 billion** in sales.  **[BDX_3382096_6]**  They feel confident about the rest of the year due to the strength of their diverse portfolio and strong utilization in the healthcare system.  **[BDX_3382096_6]** 

7. **Impact of Market Dynamics**  
   **Q:** Were there any surprises or challenges affecting growth and margins?  
   **A:** They feel good about their performance, emphasizing the diversity of their portfolio as a real strength.  **[BDX_3382096_11]**  They are overcoming transitory dynamics in the life science research space and B2B pharma systems with strong performance in Medical products, Intervention, and Life Science businesses exposed to healthcare utilization.  **[BDX_3382096_11]**  As markets rebound, they believe they are well-positioned for continued growth.  **[BDX_3382096_11]** 

a0fb1264bc9df81e7c65cb061c0ce9774af2bf3a55233617d31232def2968bc1

- **BD projects exceeding a 25% adjusted operating margin in FY2025**, with the significant majority of improvement coming from **gross margin enhancements** driven by their **BD Excellence initiatives**, including manufacturing consolidation and smart factories.  **[BDX_3395653_11]**
- The company sees strong momentum with the **Alaris infusion system**, which has returned to market **ahead of schedule**, achieving historical run rates of **over $100 million per quarter**, with opportunities to exceed this in FY2025.  **[BDX_3395653_7]** **[BDX_3395653_6]** **[BDX_3395653_14]** **[BDX_3395653_9]**
- BD is advancing multiple growth drivers beyond Alaris, including the upcoming launch of the **next-generation Pyxis medication dispensing system** and **over 10 new releases** in their **connected medication management portfolio**. Additionally, they are capitalizing on significant opportunities in **pharmacy automation**, positioning themselves as the **largest pharmacy automation robotics company globally**, with strong customer interest and double-digit growth prospects.  **[BDX_3395653_10]**

c36b7032175f5c13616eb81d1eaa49c3228873c0be7d7c56c878bfcd7448bd91

- **Macroeconomic challenges and transitory market dynamics, particularly in China, are impacting BD's revenue growth projections.** The company has acknowledged lower revenue guidance due to ongoing issues in China, biosciences, and Pharm Systems, and is taking a conservative stance on the recovery of these markets.  **[BDX_3395653_8]**
- **Ongoing destocking in the Pharmaceutical Systems segment is affecting growth, with uncertainties around the timing of market recovery.** Despite strong performance in biologics, the destocking in anticoagulant and vaccine segments is expected to continue impacting revenues into fiscal year 2025.  **[BDX_3395653_15]**
- **Pressure from volume-based procurement (VBP) and anticorruption measures in China may continue to affect BD's performance in that region.** The company does not expect China to return to high growth in the near term and is facing price pressures despite increased volumes in certain categories.  **[BDX_3395653_12]**

04a24ac34901cf0021338a062d0c765f7e1e89e2b9e4459d46f42130e7d30a0b

- **The integration of the recent $4 billion acquisition of Advanced Patient Monitoring (APM) may divert resources, possibly affecting the company's capacity for additional tuck-in acquisitions in the near term.**  **[BDX_3406461_15]**
- **BDX is prioritizing deleveraging, aiming to reduce net leverage to 2.5x over the next 12 to 18 months.** This focus on debt reduction might limit financial flexibility for future investments.  **[BDX_3406461_15]**
- **Increased R&D investments, particularly in AI initiatives, may elevate expenses without immediate guaranteed returns.** The company has yet to provide concrete timelines or financial impacts from these AI projects.  **[BDX_3406461_13]**

da77b03e2d1d4b260b831dd9094e81b8c36befedfc58a3811a22733e6d2aa65b

- **The company's revenue growth in the second half heavily relies on the Alaris infusion system, expected to contribute nearly 250 basis points to second-half growth; any setbacks with Alaris could hinder overall revenue performance.**  **[BDX_3382096_5]** **[BDX_3382096_7]**
- **Transitory market dynamics, such as destocking in the B2B pharma systems, particularly in vaccines and anticoagulants, may continue to negatively impact revenues if they persist longer than anticipated.**  **[BDX_3382096_6]** **[BDX_3382096_11]**
- **The company's guidance implies significant acceleration in revenue growth and margin expansion in the second half; failure to achieve this ramp-up due to market dynamics or operational challenges could impact financial performance.**  **[BDX_3382096_5]** **[BDX_3382096_9]**

e450d5cad3d39ccee959e3b78732df69a93b07f4ace2cf3427e9699228e18b52

- China's **Volume-Based Procurement (VBP)** policy is negatively impacting Becton Dickinson's **Medication Delivery Solutions (MDS)** business, acting as a headwind for the year and contributing to a **5% decline in China revenues** in the quarter.  **[BDX_3371537_15]** ,  **[BDX_3371537_13]** ,  **[BDX_3371537_12]**
- The **Medical segment's growth is expected to be only in line with the corporate average** for fiscal 2024, despite previous outperformance, due to the ongoing impact of VBP in China on the MDS business.  **[BDX_3371537_12]**
- The **Pharmacy Automation** business faces growth challenges due to a **tough comparison with an outsized quarter in the prior year**, potentially affecting its ability to match previous performance levels.  **[BDX_3371537_16]**

13c2731623d191175224951af3ddf047e0322425aaaf1507ef08b3cb54cc4968

- **BD's Alaris infusion system is experiencing strong momentum, with manufacturing and shipments setting all-time records, contributing to at least $300 million in FY 2024 revenues and driving second half growth.**  **[BDX_3382096_5]**
- **The company is delivering strong margin improvements ahead of expectations, with adjusted operating margins increasing sequentially and expected to improve further in the second half, driven by cost improvements and operating leverage.**  **[BDX_3382096_5]**
- **BD is confident in achieving its fiscal year 2024 guidance and BD 2025 goals, supported by strong execution in revenue growth, margin expansion, and strong cash flow performance.**  **[BDX_3382096_5]** **[BDX_3382096_8]**

788514addf2bd5f7aff9ee84a9ff59ab1dfae81d681bed4c2f86e2f480e97692

1. **Margin Outlook**  
**Q:** How will margins improve, and is the 300bps sequential increase achievable?  
**A:** Management expressed confidence in margin progression, noting that Q1 margins exceeded expectations.  **[BDX_3371537_7]** **[BDX_3371537_9]** **[BDX_3371537_11]**  Transitory headwinds like inflation and inventory dynamics will diminish in Q2.  **[BDX_3371537_9]** **[BDX_3371537_11]**  With ongoing cost improvement initiatives and moderating inflation, they are confident in achieving the **300 basis points** step-up in margins from Q1 to Q2.  **[BDX_3371537_9]** **[BDX_3371537_11]** 

2. **Revenue Guidance Increase**  
**Q:** What gives confidence to raise revenue guidance at this point?  
**A:** The slight increase in revenue guidance is driven by positive engagement with customers on the Alaris system, establishing a **$200 million floor** for the year.  **[BDX_3371537_6]** **[BDX_3371537_8]** **[BDX_3371537_10]**  Strong underlying growth drivers, including double-digit growth in Biologics and robust demand in key platforms, contribute to confidence in accelerating organic growth in the second half.  **[BDX_3371537_6]** **[BDX_3371537_8]** 

3. **China Sales and Impact**  
**Q:** How did China perform, and what's the outlook amid VoBP impacts?  
**A:** China sales played out as expected, with VoBP impacting primarily the MDS segment.  **[BDX_3371537_10]** **[BDX_3371537_13]** **[BDX_3371537_15]**  Despite a **5% decline** in the quarter, strong growth in BD Interventional (mid-teens growth) and Life Sciences (high single digits) was observed.  **[BDX_3371537_10]** **[BDX_3371537_13]**  Management expects China to be flat to up low single digits for the year.  **[BDX_3371537_13]** 

4. **Alaris System Impact**  
**Q:** How is the Alaris relaunch progressing, and its impact on growth?  
**A:** The Alaris system has been relaunched with new improvements, and early customer responses have been positive.  **[BDX_3371537_6]** **[BDX_3371537_10]**  While Q1 saw minimal contribution, Alaris is expected to add about **1 point** of growth in the second half, with a **$200 million revenue floor** established for the year.  **[BDX_3371537_10]** 

5. **Operating Margin Expansion into FY25**  
**Q:** How confident are you in achieving 100bps margin expansion next year?  
**A:** Management is highly confident in the **100 basis points** operating margin expansion for FY25, citing strong progress in initiatives like Project Recode and BD Excellence.  **[BDX_3371537_14]**  Network simplification efforts are expected to double their benefits in 2025, supporting continued margin progression.  **[BDX_3371537_14]** 

6. **M&A Outlook and Cash Flows**  
**Q:** What's the outlook for M&A given improved cash flows?  
**A:** Strong cash flow performance in Q1 positions the company well for potential M&A.  **[BDX_3371537_19]**  Management remains disciplined, focusing on accretive growth and maintaining net leverage targets, with an active pipeline of strategic opportunities.  **[BDX_3371537_19]** 

7. **Medical Segment Growth Expectations**  
**Q:** Why is medical growth in line with corporate average despite tailwinds?  
**A:** While Pharm Systems is expected to grow **high single digits**, headwinds from VoBP in China impact MDS.  **[BDX_3371537_12]**  MMS benefits from Alaris returning to contribute to growth, and dispensing businesses are performing well, but overall medical segment growth aligns with the corporate average due to these offsetting factors.  **[BDX_3371537_12]** 

8. **Pharmacy Automation Outlook**  
**Q:** How is pharmacy automation performing, and what's the outlook?  
**A:** Pharmacy automation showed solid growth in hospital and alternate sites.  **[BDX_3371537_16]**  Despite tough comparisons due to a strong prior year quarter, the order book looks good, and the segment is projected to maintain **low double-digit growth** for the rest of the year.  **[BDX_3371537_16]** 

9. **Molecular Point-of-Care Market**  
**Q:** How will BD's Alliance system compete in molecular point-of-care?  
**A:** BD's Alliance system targets unmet needs by delivering **clear-waived results within less than 15 minutes**.  **[BDX_3371537_17]**  Leading with CT/GC assays, it addresses the increasing burden of STIs, enabling test-and-treat capabilities in decentralized settings.  **[BDX_3371537_17]** 

10. **Peso/Wage Impact and Anticoagulant Business in China**  
**Q:** Update on peso/wage impact and anticoagulant capacity in China?  
**A:** Wage dynamics in the supply chain continue but are playing out as expected.  **[BDX_3371537_18]**  For the anticoagulant business in China, capacity is being converted to support biologics due to increased demand, allowing better service to that market later in the year.  **[BDX_3371537_18]** 

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