"The first quarter growth rate in emerging markets reflects a very difficult comparison to the prior year period for both the BD and CareFusion legacy businesses and a moderation of growth in China. China growth for the first quarter was 4.5%, compared with growth of over 23% in the first quarter of last year. This difficult comparison was in line with our expectations.
Beyond the difficult comparison, we also experienced the continued slowdown of capital spending in diagnostic systems, which resulted in inventory adjustments . . . While there are pockets of pressure, millions of patients are entering the healthcare system and overall, emerging markets continue to be an important growth driver. For the total year, we expect China to grow in the low double-digit range and total emerging markets to grow 9% to 10%."
—Christopher Reidy, BD executive vice president, chief financial officer, and chief administrative officer, according to a Seeking Alpha transcript of the company's first quarter of fiscal year 2016 earnings call.
"So taking China first, the weakness was really on the capital side. It was in Life Science, and it does not appear to be driven so much by the financial situation as it was driven more by this issue that we brought up last quarter, which is the auditing of large capital purchases. So we're seeing that in China and we expect that to continue for the rest of the year.
On the disposable side, we did fine. And these are products that sustain the healthcare system, and so we expect stability in China on that side. That's really the difference as we look around the emerging markets. That's the biggest difference . . . "
—Vincent Forlenza, BD chairman, president and CEO, according to the Seeking Alpha transcript.
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