Here's Why Becton Dickinson Fell Today
Shares of Becton Dickinson (NYSE: BDX) are down 9.7% at 12:59 p.m. EST after the company lowered its guidance for fiscal year 2020. The lower guidance is due to news that it will take longer than expected to resolve software issues for its Alaris infusion system, which are used by 70% of patients undergoing infusion therapy.
To solve the issue with the Alaris infusion system, the company will need to make a regulatory filing with the Food and Drug Administration (FDA), which Becton Dickinson thinks it can accomplish during its fourth fiscal quarter (July to September). In the meantime, the company is working with the FDA so the systems can be used under medical necessity.
Alaris infusion system. Image source: Becton Dickinson.
Source Fool.com
