embecta completes spin-off from BD and lists on NASDAQ as a global leader in diabetes care
01 April 2022 - 9:50PM
Embecta Corp. (embecta) (NASDAQ: EMBC) and its employees around the
world celebrate its launch today as one of the largest global
pure-play diabetes care companies. The leadership team and other
key members of the organization will be at the NASDAQ Stock Market
to ring the closing bell.
embecta’s history in the diabetes care category dates back to
1924 and the development of the world's first specialized insulin
syringe. Today, it is the leading producer of diabetes injection
devices, manufacturing approximately 8 billion injection devices
annually for an estimated 30 million patients.
“We are building on a nearly 100-year legacy as pioneers in
diabetes care by becoming an independent public company,” said
Devdatt “Dev” Kurdikar, CEO of embecta. “As the largest producer of
diabetes injection devices in the world, embecta is an established
leader with unmatched manufacturing expertise, global distribution
and commercial capabilities in over 100 countries. We are now
better positioned to drive shareholder value and accelerate growth
by investing in both organic and inorganic innovation, which will
help give people living with diabetes the knowledge and tools they
need every day. We are thankful for our 2,000 employees, who are
highly motivated and work tirelessly each day to improve the lives
of people living with diabetes, and we are excited about the
opportunities that lie ahead.”
embecta’s core business is driven by the chronic demand for
insulin. Right now, approximately 1 in 10 individuals worldwide
have diabetes1 and rates of diagnosis, treatment, and care are
rising, especially in emerging markets, due to changing
demographics, lifestyle factors, and increased access to care. Left
untreated, people with diabetes face a host of medical
complications and co-morbidities. embecta is an integral player in
delivering treatment to people with diabetes worldwide and it is
the Company’s vision to help people live a life unlimited by
diabetes.
As a standalone public company, embecta will now have the
strategic, operational, and financial independence to optimize its
product portfolio, and achieve more efficient resource and capital
allocation to address the significant unmet need for chronic
diabetes care. As an independent company, embecta has an
opportunity to serve the large and growing insulin delivery market,
which embecta estimates to be $6 billion to $8 billion per
year.
With approximately 800,000 sq ft of manufacturing space across
the United States, Ireland, and China, embecta is the global market
leader in pen needles.
A live webcast of the closing bell will be available on the
NASDAQ Stock Exchange website today at 4:00 p.m. EST.
1(International Diabetes Federation)
About embecta embecta, formerly part of BD
(Becton, Dickinson and Company), is one of the largest pure-play
diabetes care companies in the world, leveraging its nearly
100-year legacy in insulin delivery to empower people with diabetes
to live their best life through innovative solutions, partnerships
and the passion of more than 2,000 employees around the globe. For
more information, visit embecta.com.
Forward-Looking Statements
This press release contains certain forward-looking statements
(as defined under Federal securities laws) regarding embecta’s
future prospects and performance. All such statements are based
upon current expectations of embecta and involve a number of risks
and uncertainties. With respect to forward-looking statements
contained herein, a number of factors could cause actual outcomes
to vary materially. We do not intend to update any forward-looking
statements to reflect events or circumstances after the date hereof
except as required by applicable laws or regulations.
CONTACTS
Media:
Christian Glazar
Sr. Director, Corporate Communications
908-821-6922
Christian.Glazar@bd.com
Investors:
Jake Elguicze
Chief Financial Officer
201-847-4215
jake.elguicze@bd.com
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