President Donald Trump last evening blasted 3M (NYSE:MMM) for selling some of its N95 masks to other countries, hours after invoking the Defense Production Act to prioritize orders from the Federal Emergency Management Agency. “We hit 3M hard today after we saw what they were doing with their masks,” Trump tweeted Thursday night. “‘P Act’ all […]
AdvaMed: Invoking Defense Production Act could hinder U.S. medtech imports
Forcing manufacturers to repurpose their production lines to make equipment to fight the coronavirus epidemic might actually hurt the U.S. supply of those items, the head of medtech trade group AdvaMed said today. AdvaMed officials have talked with U.S. secretary of Health and Human Services Alex Azar and FDA commissioner Dr. Stephen Hahn about medtech […]
3M partners with Ford for coronavirus response
3M (NYSE:MMM) and Ford Motor Co. announced that they are entering into a partnership in an effort to increase the production of 3M’s PAPRs (powered air-purifying respirators) in response to the shortages caused by the coronavirus outbreak. The two companies plan to collaborate on specific means to rapidly combine each others’ capabilities and resources to meet […]
5 companies on the front lines of the coronavirus fight
Nancy Crotti, Managing Editor and Danielle Kirsh, Senior Editor Amid the stock market roller-coaster ride that began last month, medtech companies that make devices and diagnostic tests vital to fighting COVID-19 may ultimately fare better than others, but it’s hard to tell until the virus peaks and people get back to work. At midafternoon today, […]
Honeywell, 3M to ramp up N95 face masks production
Both Honeywell (NYSE:HON) and 3M (NYSE:MMM) will produce millions of additional N95 respirators to protect U.S. health care workers fighting the coronavirus pandemic. Honeywell (Charlotte, N.C.) said yesterday that it will expand operations at its Smithfield, R.I. eye protection products plant so that the plant can also manufacture millions of N95 masks. Honeywell said it will immediately […]
7 ways the coronavirus is affecting medtech
Medtech companies face some tough times as the deadly coronavirus pandemic gains steam. But could this be the medical device industry’s Dunkirk, too? Just days ago, MassMEDIC president Brian Johnson made a call-out on LinkedIn for people to send ideas about how Massachusetts medical device companies could help fight COVID-19. He drew an analogy to […]
Trump invokes Defense Production Act against coronavirus
President Trump announced today that he is invoking the Defense Production Act — a Korean War–era law that enables extraordinary government actions to boost needed supplies — “just in case we need it” to fight the coronavirus pandemic. There have been stories of healthcare providers across the United States facing shortages of everything from ventilators […]
Trump orders more general use respirators for healthcare workers
Amid the COVID-19 pandemic sweeping the globe, President Donald Trump issued an executive order to increase the availability of personal respiratory devices for healthcare workers. In a memorandum released by the White House on March 10, Trump declared that public health experts anticipate shortages in the supply of respirators available for use by healthcare workers […]
Report: Some hospitals running short of 3M’s N95 masks amid coronavirus outbreak
Some U.S. hospitals are facing short supplies of N95 respirator masks from 3M (NYSE:MMM) as the global coronavirus outbreak ramps up, according to a report in The New York Times. “I can tell you my other colleagues across our multiple hospitals are really rationing,” Dr. Susan Ray, an infectious disease specialist at Grady Memorial Hospital in […]
Medical device company stocks aren’t immune from coronavirus
Major U.S. medical device company stocks have generally performed as poorly as others over the past two weeks as the global coronavirus outbreak drive markets down. Among 20 of the largest U.S. companies on Medical Design & Outsourcing and MassDevice‘s annual Big 100 list, both the average and median decline in price was roughly 17% […]
How medtech companies are responding to the deadly coronavirus outbreak
Medical device companies all over have felt the impact of the coronavirus pandemic that originated in China. The latest figures from the World Health Organization (WHO) show that at least 600 people have died — almost all of them in China — with tens of thousands of confirmed coronavirus cases in dozens of countries. Demand […]
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