BECTON DICKINSON & CO Annual Report, Year Ended Sep 30, 2002

Becton Dickinson & Co. (BDX) filed its 2002 10-K report on December 19, 2002, detailing its operations for the fiscal year ended September 30, 2002. The company operates as a global medical technology firm across three main segments: Medical Systems, Clinical Laboratory Solutions, and Biosciences. These segments provide a wide array of products and services, including injection devices, diabetes care products, diagnostic systems, and life science research tools. BD emphasizes its commitment to innovation and market leadership, supported by significant investments in research and development, which amounted to approximately $220 million in fiscal year 2002. BD's global presence is substantial, with manufacturing and sales operations spanning numerous countries. The company acknowledges the risks associated with international operations, including economic fluctuations and currency exchange rates. The report also highlights the competitive landscape, where BD competes with specialized companies and larger entities with greater financial resources. Key to its strategy is the maintenance of intellectual property and ongoing product innovation. The company also disclosed its position on significant legal proceedings, including product liability claims related to latex gloves and needlestick injuries, as well as an antitrust lawsuit. While management believes these matters will not have a material adverse effect, it acknowledges potential impacts on financial results and cash flows.