Becton Dickinson (BD) recently reported declines in revenue for the first quarter of the 2022 fiscal year, with its Life Sciences segment experiencing the biggest losses.
The company reported that its overall revenue declined by $5 billion (6.0%) for the quarter, which ended December 31, 2021.
The Life Sciences segment's revenues reportedly decreased by 25% compared to the same time of the previous year, from $1.979 billion to $1.483 billion. This segment includes the Integrated Diagnostic Solutions (IDS) and Biosciences (BDB) business units.
The company said that BD Life Sciences' performance reflects the decline in COVID-only testing revenues, which was partially offset by growth in the base business of 16.7%. Company leaders pointed to COVID-only testing declining as a whole from $866 million in the previous year to $185 million.