Becton, Dickinson (BDX +0.9%) said that it will receive $42M from the federal government to expand its manufacturing capacity for syringes and needles to support vaccination efforts against COVID-19.
The Biomedical Advanced Research and Development Authority (BARDA) will provide the funding as part of Operation Warp Speed, a Trump administration program aimed at having 300M doses of a COVID-19 vaccine by January 2021, that will support the expansion of BD’s manufacturing operations in Nebraska. The total cost of the capital project will be $70M.
The company has also finalized an initial order from the government for 50M needles and syringes to be delivered by the end of December 2020.
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