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Industry News

McKesson commits to set science-based targets to reduce greenhouse gas emissions

McKesson Corporation has signed a commitment letter to the Science Based Targets initiative (SBTi), joining over 1,300 companies to commit to setting ambitious targets to reduce greenhouse gas emissions.

The SBTi, a collaboration between CDP, the United Nations Global Compact, World Resources Institute, and the World Wide Fund for Nature, drives climate action in the private sector by encouraging companies to set science-based targets that aim to limit global warming to 1.5°C. By developing targets using climate science and the SBTi’s methodologies, McKesson will promote best practice in emissions reductions and demonstrate its commitment to bold climate action.

“As a global leader in healthcare, we recognize our responsibility to protect our planet and drive change in climate action,” said Dr. Kelvin Baggett, chief impact officer, McKesson. “We’re committed to being an impactdriven company and are dedicated to setting targets that reduce our own climate impact, improving the health and well-being of the patients and communities we serve.”

BD to spin off Diabetes Care Business

BD (Becton, Dickinson and Company) (Franklin Lakes, NJ) announced it plans to spin off the company’s Diabetes Care business as an independent, publicly traded company (“NewCo”).

The transaction is expected to create two, independent companies with: ʯ Enhanced focus on strategic, operational and financial drivers to accelerate revenue growth ʯ Optimized product portfolios to better meet customer and patient needs ʯ More efficient resource and capital allocation to pursue each company’s strategic goals

Devdatt Kurdikar, who joined BD in February 2021 and is currently worldwide president of BD Diabetes Care, will be CEO of NewCo. Most recently, Kurdikar served as CEO and president for Cardiac Science, a global manufacturer of automated external defibrillators (AEDs) until the sale of the company to ZOLL Medical Corporation, an Asahi Kasei Group Company.

Jacob Elguicze, former treasurer and head of investor relations for Teleflex, has joined BD in May 2021 and will be CFO of NewCo.

BD says that NewCo’s revenue and manufacturing footprint are geographically diverse. In fiscal 2020, the Diabetes Care business generated revenues of nearly $1.1 billion, with 48% of revenues generated outside of the United States, including 17% of revenues from emerging markets. NewCo will have manufacturing sites in the United States, Ireland, and China, and is expected to have office locations in New Jersey and Massachusetts.

Following the spinoff, BD will maintain category leadership positions across its portfolio in the BD Medical, BD Life Sciences and BD Interventional segments.

BD Medical, which today includes the Diabetes Care business, will continue to be the global leader in end-toend medication management solutions with its BD Alaris brand of infusion pumps, BD Pyxis brand of medication and supply dispensing solutions, BD HealthSight data and analytics platforms and its breadth of medication delivery devices. It will also continue to be the global leader in prefilled injectable delivery devices through its innovative pre-fillable syringes, self-injection systems, safety systems and needle technologies.

BD expects the spinoff to be accomplished through a distribution of stock in NewCo to BD shareholders. The transaction is also expected to be completed in the first half of calendar year 2022.