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Becton Dickinson

Of the 28 companies in the index, 21 firms saw their stock prices increase throughout the first half of the year, while seven firms' share prices decreased.

BD has also granted the offerings' underwriters an option to purchase up to an additional $450 million of common stock and depositary shares.

The firm said it will use the funds for general corporate purposes, which may include investment and acquisitions, working capital, and debt repayment.

The acquisition will round out BD's molecular portfolio and be complementary to the firm's Veritor immunoassay system, according to executives. 

The company will use proceeds from the offering to pay off debt related to other notes and to partially fund a redemption of other notes.

Only 2.5 percent of Americans have been tested for COVID-19, even as industry scrambles to increase testing capacity and a second wave of cases may hit in the fall.

Currently under development by a number of IVD firms, these protein tests offer quick turnaround, ease of use, and amenability to large scale production.

The firm has suspended its fiscal year financial guidance due to ongoing uncertainty associated with the COVID-19 pandemic.

News items for the in vitro diagnostics industry for the week of April 27, 2020. 

Policymakers have touted such tests as key to easing shutdowns, but high specificity will be needed to avoid misinforming people about their infection status.