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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 23, 2000
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BECTON, DICKINSON AND COMPANY
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(Exact name of registrant as specified in its charter)
New Jersey 001-4802 22-0760120
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(State or other juris- (Commission (IRS Employer Iden-
diction of incorporation) File Number) tification Number)
1 Becton Drive, Franklin Lakes, New Jersey 07417-1880
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (201) 847-6800
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N/A
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(Former name or former addresses if changed since last report.)
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Item 5. OTHER EVENTS
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Attached hereto as Exhibit 99, which is incorporated herein by
reference, is a copy of registrant's press release dated February
23, 2000.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BECTON, DICKINSON AND COMPANY
(Registrant)
By: /s/ Bridget M. Healy
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Bridget M. Healy
Vice President and Secretary
Date: February 23, 2000
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INDEX TO EXHIBITS
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Exhibit
Number Description of Exhibits
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99 Press Release issued on Febraury 23, 2000
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EXHIBIT 99
[BD LOGO APPEARS HERE]
Indispensable to
human health
Refer To:
Ronald Jasper
Investor Relations
(201) 847-7160
Camilla Jenkins
Press Relations
(201) 847-5369
BD Expects Rapid Resumption of Product Supply
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Following Voluntary Recall; Offers Alternate Product at No Charge in Interim and
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Confirms E.P.S. Expectations
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Franklin Lakes, NJ - February 23, 2000 - BD (Becton, Dickinson and Company)
(NYSE: BDX) today announced that it is voluntarily recalling certain
manufacturing lots of the BD Insyte(R) AutoGuard(TM) shielded IV catheter. This
recall only affects products from specific catalog and lot numbers. No other BD
products are affected.
According to the Company, the decision to recall the products was made after BD
received user reports of localized skin irritation following product use. The
actual percentage of products for which the Company received reports was less
than .01 percent of such products used.
The Company said there have been no confirmed reports of serious problems or
complications. Further, the Company has not received any reports leading it to
believe this irritation contributes to any serious adverse health consequences.
It said it has decided to voluntarily recall the products in order to minimize
additional concerns while it continues to investigate the problem.
The data indicate that the problem relates to a modified formulation of the
lubricant applied to certain needle gauges of Insyte AutoGuard IV catheters.
All reported incidents have been with Insyte AutoGuard from those manufacturing
lots that used the modified lubricant. BD has discontinued use of the modified
lubricant and has resumed use of its previous lubrication which has been used
since the product was introduced five years ago.
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BD has notified its customers and, in consideration of any inconvenience, is
offering to supply them with alternate product at no charge during the period
when the Insyte AutoGuard will not be available. The Company estimates that the
most popular sizes and types of the product will be available regionally
beginning in mid-March, with near 100% availability nationally expected by mid-
April.
Edward J. Ludwig, President and Chief Executive Officer said, "Our revenue
expectations for the fiscal quarter ending March 31 may be reduced modestly to
reflect the impact of the voluntary product recall and the earnings per share
impact for the quarter should approximate $.05. This amount is expected to be
substantially offset by a previously disclosed gain on the sale of a portion of
the Company's holdings in an investment. Revenues for the balance of the year
should not be further affected by this recall. Our strategy to help customers
adopt advanced protection technologies continues to be well received by the
marketplace, and we continue to be comfortable with consensus earnings per share
estimates of $1.61 for the year."
BD is a medical technology company that manufactures and sells a broad range of
supplies, devices and systems for use by health care professionals, medical
research institutions, industry and the general public.
This press release may contain certain forward looking statements (as defined
under Federal securities laws) regarding the company's performance, including
future revenues, products and income, which are based upon current expectations
of the company and involve a number of business risks and uncertainties. Actual
results vary materially from anticipated results described in any forward-
looking statement. Factors that could cause actual results to vary materially
include, but are not limited to, competitive factors, changes in regional,
national or foreign economic conditions, changes in interest or foreign currency
exchange rates, delays in product introductions, year 2000 issues, and changes
in health care or other governmental regulation, as well as other factors
discussed herein and in the company's filings with the Securities and Exchange
Commission.
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