Suzhou, China - Global medical technology company BD (Becton, Dickinson and Company) announced today that it will invest US$16 million to construct a world-class manufacturing plant in China to produce rapid diagnostic products for flu and viral infections, in response to growing demands for clinical testing and rapid diagnosis. BD Rapid Diagnostics (Suzhou) Co., Ltd. will be established in Suzhou Export Processing Zone District B with a registered capital of US$16 million, with total investment anticipated to reach US$48 million within a few years.
Recent years have seen frequent outbreaks of contagious diseases, constantly threatening the public's health. Rapid diagnostic products help improve public health programs to address disease control issues and assure people are treated appropriately and effectively. Accurate diagnosis can both result in rapid appropriate treatment and prevent unnecessary use of potentially scarce therapeutics.
The products to be manufactured at BD Rapid Diagnostics (Suzhou) Co., Ltd. will be able to diagnose a number of bacterial, parasitic, and viral diseases such as influenza, Respiratory Syncytial Virus, HIV, tuberculosis and malaria. These products will be sold to countries and regions around the world, including the US, Japan, Europe, Asia and Latin America.
"BD will start by transferring some existing technology from one of our US-based facilities," said Mike Meehan, President, Rapid Manual Testing for BD, "We also hope that as we establish our research capability, we will be able to develop diagnostics that are very well attuned to the needs of the Chinese medical community. By locating a major plant here we hope to contribute significantly to the healthcare system in China as well as in the developing world. BD's objective is to make rapid diagnostic products accessible to a wide range of markets, in line with our purpose of 'Helping all people live healthy lives.' "
BD Rapid Diagnostics (Suzhou) Co., Ltd. is expected to begin production in the fourth fiscal quarter of 2007, with plans to eventually manufacture products to diagnose about 30 infectious diseases.
"We have been manufacturing in Suzhou for 10 years and have exceeded our initial expectations for the plant." said Desmond Thio, General Manager of BD in China. "Our objectives are to be close to our customers and to make rapid diagnostic products accessible to a wide range of markets. Recognizing the rapidly growing healthcare market in China, we decided it would be an excellent location to build product development and manufacturing capabilities."
About BD
BD, a leading global medical technology company that makes and sells medical devices, instrumented systems and reagents, is dedicated to improving people's health throughout the world. BD is focused on improving drug therapy, enhancing the quality and speed of diagnosing infectious diseases and advancing research and discovery of new drugs and vaccines. The Company'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 more than 25,000 people in approximately 50 countries throughout the world. The Company serves healthcare institutions, life science researchers, clinical laboratories, industry and the general public. For more information, please visit www.bd.com.
This press release may contain certain forward-looking statements (as defined under Federal securities laws) regarding BD's performance, including future revenues, products and income, or events or developments 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. Factors that could cause actual results to vary materially from any forward-looking statement include, but are not limited to: competitive factors; pricing and market share pressures; changes in interest or foreign currency exchange rates; difficulties inherent in product development and delays in product introductions; changes in regional, national or foreign economic conditions; increases in energy costs; fluctuations in costs and availability of raw materials and in BD's ability to maintain favorable supplier arrangements and relationships; and changes in healthcare or other governmental regulation; issuance of new or revised accounting standards, as well as other factors discussed in this press release and 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.
