The projection from BD represents a 25% increase on last year's Q1 figure, with an estimated 20% coming from sales of Covid-19 diagnostic products
BD (Becton Dickinson and Company) has disclosed that it expects total revenue for Q1 2021 to hit $5.3bn.
If achieved, the figure would represent a 25.6% increase on Q1 2020 revenue of $4.23bn, and BD predicts 20% of that will consist of growth in the Covid-19 diagnostic segment.
In monetary terms, the company is estimating Covid-19 testing revenues of $865m, which includes BD Veritor revenues of approximately $685m, with the remaining figure coming from sales of BD Max Covid-19 tests, as well as specimen collection and transport.
BD CEO and president Tom Polen said: “We have entered fiscal 2021 with strong momentum and now expect to deliver fiscal 2021 revenues toward the high end of our previously communicated guidance range and to be above our prior adjusted EPS (earnings per share) guidance range.
“Our first fiscal quarter reflects exceptional execution by the BD team as they worked tirelessly to contribute to the pandemic response efforts globally.
“The base business was more resilient, reflecting the essential role of our health care products and solutions, and Covid-19 diagnostic revenues were higher-than-expected.”
BD noted in its release document that the predicted figures are preliminary and could change before the official Q1 revenue report.
BD predicts higher-than-expected growth in base business revenue
Outside of demand created by the pandemic, the company also projected higher-than-expected performance across its base segments.
In the BD Medical segment, the firm expects worldwide revenues for Q1 of $2.3bn, an increase of 7.9% from the prior-year period.
BD also expects its Medication Delivery Solutions and Diabetes Care revenues to grow in the mid-single-digits, Medication Management Solutions revenues to grow in the high-single-digits, and Pharmaceutical Systems revenues to grow double-digits compared to Q1 2020.
Company management attributed these growth figures to an increase in patients presenting with acute medical conditions during the pandemic, which led to greater demand for things like vascular management products, peripherally inserted central catheters and infusion pumps.
In the BD Life Sciences segment, the firm expects to see $2.0bn in revenue, an increase of 76.3% from the prior-year period, with an estimated 61% of that coming from Covid-19 diagnostic products.
In the BD Interventional segment, which markets products related to surgical, endovascular, urological and critical care interventions, BD expects $1.1bn in Q1 revenues, an increase of 6% from the prior-year period.