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Defense Production Act

MedTech 100 roundup: Ringing in the New Year with another high

January 4, 2021 By Sean Whooley

For the third time in the past four weeks, stocks within the medtech industry climbed to never-before-seen heights as 2021 reared its head. Previous highs have largely been a result of the FDA granting Moderna emergency use authorization for its vaccine candidate and its subsequent rollout to the U.S., joining the one made by Pfizer (NYSE:PFE) and BioNTech (NSDQ:BNTX), […]

Filed Under: Business/Financial News, Featured, Funding Roundup, MassDevice Earnings Roundup, Mergers & Acquisitions, Research & Development, Wall Street Beat Tagged With: Boston Scientific, Corinth MedTech, coronavirus, COVID-19, COVID-19 vaccine, Defense Production Act, DiaSorin, MedTech 100 Index, Medtronic, Olympus, Omnia Medical, Teleflex, U.S. Biomedical Advanced Research and Development Authority (BARDA), Veran Medical Technologies, Z-Medica

Biden to bolster COVID-19 vaccine production with Defense Production Act

December 30, 2020 By Brian Buntz

Joe Biden is reportedly planning on invoking the Defense Production Act to shore up the production of COVID-19 vaccines in the U.S.  While FDA has authorized the distribution of vaccines from Moderna Moderna (NSDQ:MRNA) and Pfizer (NYSE:PFE) and its partner BioNTech (NSDQ:BNTX), distribution has been patchy thus far. Get the full story at our sister site, Pharmaceutical […]

Filed Under: Business/Financial News, Contract Manufacturing, Featured, Pharmaceutical Tagged With: coronavirus, COVID-19, COVID-19 vaccine, Defense Production Act, Donald Trump, Joe Biden

Report: Ventilators are piling up in government stockpiles

August 18, 2020 By Sean Whooley

As the COVID-19 pandemic roars on, the government stockpile of once-in-demand ventilators has reportedly turned into a collection of unused devices. The Washington Post reports that, following the panic caused by an anticipated ventilator shortage and subsequent rush to add to the stockpile after President Trump invoked the Defense Production Act, the approach to treating COVID-19 […]

Filed Under: Business/Financial News, Contract Manufacturing, Featured, Respiratory Tagged With: coronavirus, COVID-19, Defense Production Act, Dept. of Health & Human Services (HHS), Ford, GE Healthcare, General Motors, Philips, Ventec Life Systems

Report: New U.S. reshoring agency may loan billions for manufacturing

June 25, 2020 By Nancy Crotti

The head of the newly formed U.S. International Development Finance Corp. (DFC) said this week that the agency could provide tens of billions of dollars in financing to return manufacturing to the United States, according to a report by Reuters. One of the projects it may finance is a $12 billion semiconductor plant from Taiwan, […]

Filed Under: Business/Financial News, Featured, Pharmaceutical Tagged With: Defense Production Act, manufacturing, U.S. Department of Defense, U.S. International Development Finance Corporation

Report: Trump fundraiser tried to cash in on N95 masks

June 23, 2020 By Sean Whooley

The co-founder of a political action committee that has raised funds for President Donald Trump may have attempted to profit from N95 respirators made by 3M (NYSE:MMM), according to a report by CBS News. The report said that, shortly after Trump invoked the Defense Production Act to obtain 3M’s respirators, Great America PAC (which raised more […]

Filed Under: Business/Financial News, Featured, Legal News, Respiratory Tagged With: 3m, coronavirus, COVID-19, Defense Production Act, Donald Trump

DOD launches $100m initiative to return COVID-19-related medtech, pharma manufacturing to the U.S.

June 22, 2020 By Nancy Crotti

The U.S. Department of Defense announced today that it will dedicate $100 million authorized by the CARES Act to boost medtech and pharmaceutical manufacturing in the U.S. Working with DOD, the newly formed U.S. International Development Finance Corporation (DFC) launched a request for proposals from companies seeking financing under the Defense Production Act, which prioritizes […]

Filed Under: Business/Financial News, Featured Tagged With: COVID-19, Defense Production Act, U.S. Department of Defense, U.S. International Development Finance Corporation

Report: U.S. may shield medical device makers from antitrust rules amid pandemic

May 22, 2020 By Sean Whooley

U.S. officials are reportedly set to invoke a law that would protect companies from antitrust regulations to keep medical supplies available during the COVID-19 pandemic. The Associated Press reported that the government began formal discussions with private industry representatives yesterday, the subject of those discussions centering around a five-year agreement that would ensure supplies of […]

Filed Under: Business/Financial News, Featured, Legal News, Regulatory/Compliance, Respiratory Tagged With: Defense Production Act, Donald Trump

FDA yanks 60 Chinese companies’ respirators from emergency use list

May 7, 2020 By Nancy Crotti

The FDA has removed respirators made by 60 companies in China from its emergency use authorization (EUA) list for COVID-19 over concerns that they may be “sub-standard.” The list, which had totaled 74 manufacturers when issued April 24, still includes 15 models of N95 respirators made in China by 3M (NYSE:MMM), plus a number of models […]

Filed Under: Business/Financial News, Featured, Food & Drug Administration (FDA), Regulatory/Compliance, Respiratory Tagged With: 3m, coronavirus, COVID-19, Defense Production Act, FDA, National Institute for Occupational Safety and Health, U.S. Department of Defense

3M wins federal contracts to further expand U.S. respirator production

May 7, 2020 By Sean Whooley

3M (NYSE:MMM) announced today that it received two more U.S. Department of Defense contracts to further expand its domestic production of N95 respirator masks. Since January, the Maplewood, Minn.-based company has doubled its global output of respirators to 1.1 billion per year, with 35 million N95 masks produced per month in the U.S. According to a […]

Filed Under: Business/Financial News, Contract Manufacturing, Featured, Funding Roundup, Respiratory Tagged With: 3m, coronavirus, COVID-19, Defense Production Act, U.S. Department of Defense

Trump slams 3M over foreign respirator sales, invokes DPA

April 3, 2020 By Nancy Crotti

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 […]

Filed Under: Business/Financial News, Featured, Respiratory, Wall Street Beat Tagged With: 3m, AdvaMed, coronavirus, COVID-19, Defense Production Act, Donald Trump

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