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Becton Dickinson and Company (BDX) Releases Statement & Prelim. EPS Contribution on Sale of Advanced Bioprocessing Business

September 7, 2018 6:04 AM EDT

BD (Becton, Dickinson and Company) (NYSE: BDX) today issued the following statement regarding the sale of its Advanced Bioprocessing business to Thermo Fisher Scientific:

"The sale of our Advanced Bioprocessing business will create greater focus for our Life Sciences segment where BD has outstanding opportunities to contribute significant innovation for disease and therapy research and clinical diagnostics," said Patrick Kaltenbach, president of Life Sciences for BD. "BD remains committed to our customers in the clinical, life sciences and industrial segments and will continue to sell all of our media product offerings to these important partners."

BD Advanced Bioprocessing has annualized revenue of approximately $100 million. For fiscal year 2018, BD estimates the contribution from the Advanced Bioprocessing business to earnings per share of approximately $0.13 to $0.15 on a full-year basis. The company expects to record a tax gain on the transaction at the time of closing. The transaction is subject to customary closing conditions and is expected to close in early 2019.



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