BD (BDX) obtains FDA EUA in combination with rapid antigen test

Becton, Dickinson and Company BDX, commonly known as BD, has received an Emergency Use Authorization (“EUA”) from the FDA for a new rapid antigen test. This allows SARS-CoV-2, influenza A, and influenza B to be identified simultaneously in a single test.

Interestingly, the new test takes about 15 minutes to run on a BD Veritor Plus system and helps distinguish between SARS-CoV-2, influenza A and influenza B. This is done by providing a clear positive or negative individualized reading for all three.

To attract the attention of investors, the BD Veritor System is a bit larger than a mobile phone, has one-button functionality, workflow flexibility and is easy to use, making it the perfect solution for unattended lab settings.

The latest tests are a significant addition to BD’s fight against the pandemic and are therefore expected to boost the company’s life sciences business.

Importance of new tests

It is important to note here that the symptoms of COVID-19 and influenza are very similar. Therefore, a quick combination test that helps distinguish between the three virus infections can save time and resources. This test targets individuals who are suspected of having any of the three viral infections within 6 days of the onset of symptoms. In particular, BD plans to introduce tests in the summer of the 2021-2022 flu season.

The new test reflects the same simple workflow as any other rapid test on a BD Veritor Plus system. The company will continue to offer individual tests for both SARS-CoV-2 and influenza A + B, as well as new combination tests that enable healthcare providers to perform the tests that best suit their patients.

Industry outlook

According to a report published in Research And Markets, the global rapid test kit market is valued at $ 23.44 billion in 2020 and is expected to witness a CAGR of 8.1% by 2026. Factorial illnesses such as the relentless spread of pandemics and the spread of various infectious diseases are expected to drive the market.

Given the market potential, the announcement seems to have come at the right time.

The story continues

Recent development

This month, BD worked with ImageMover to provide a companion mobile app. This supports the smooth execution of SARS-CoV-2 antigen test results performed on BD VeritorPlus systems at regular test locations (schools and businesses).

This collaboration facilitates test results to streamline reports, resulting in significant reductions in manual documentation. In particular, the ImageMover app is readily available to BD Veritor Plus System customers.

In February, the company collaborated with Scanwell Health, a well-known smartphone-enabled home medical test. This partnership aims to use BD’s antigen testing and the Scanwell Health mobile app to create a rapid home testing of SARS-CoV-2.

Price performance

The company’s stock has increased by 8.8% over the past year, compared to the industry’s 51.3% growth.

Zacks rank and key pick

Currently BD has Zacks Rank # 3 (pending).

Some better-ranked stocks from the broader medical field Surmodics, Inc. SRDX, IDEXX Laboratories Co., Ltd. With IDXX Cantel Medical Corp. CMD, each currently has Zacks Rank # 2 (purchased).You can see Click here for a complete list of today’s Zack # 1 Rank (Strong By) stocks.

Surmodics’ long-term revenue growth is estimated at 10%.

IDEX’s long-term revenue growth is estimated at 15.8%.

Cantel Medical’s long-term revenue growth is estimated at 19%.

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