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 […]
Report: U.S. may shield medical device makers from antitrust rules amid pandemic
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 […]
Report: New Medtronic CEO challenges Trump on ‘reshoring’
New Medtronic (NYSE:MDT) CEO Geoff Martha openly disagreed yesterday with President Donald Trump’s mission to bring formerly U.S.-based companies back to this country, according to a report in the Irish Times. Medtronic, which maintains a U.S. headquarters in Fridley, Minn., bought Dublin-based Covidien for $50 billion in 2015 and moved its global headquarters to Ireland in […]
6 medtech execs join White House economic recovery group
Several medtech executives have been named to the White House task force designated by President Donald Trump to provide recommendations on how best to safely reopen the U.S. economy in the wake of the coronavirus pandemic. The Great American Economic Revival healthcare industry group has 27 members, including: Mike Kauffman, CEO of Cardinal Health (NYSE:CAH). Brian […]
3M agrees with Trump to import an additional 166.5m respirators into U.S.
President Donald Trump and 3M (NYSE:MMM) today agreed that the manufacturing conglomerate will import an additional 166.5 million respirators from its China plant over the next three months. The imports will come on top of the 35 million N95 respirators per month that 3M is presently manufacturing in the United States. The deal — which Trump […]
Trump uses DPA to boost supplies to certain ventilator manufacturers
President Donald Trump yesterday invoked the Defense Production Act to reduce supply-chain problems for certain manufacturers to produce ventilators. In the executive order, the president gave the secretaries of the departments of Health & Human Services and Homeland Security the power to secure materials for General Electric (NYSE:GE), Hillrom (NYSE:HRC) , Medtronic (NYSE:MDT), ResMed (NYSE:RMD), Philips (NYSE:PHG) and Vyaire Medical. Ventilator […]
FDA eases mask regulations, seeks to boost decontamination of used masks
The FDA yesterday further relaxed regulations on medical and surgical masks and face shields to ease shortages during the coronavirus pandemic, and invited companies that decontaminate masks to submit proposals for emergency authorizations. In a new guidance, the agency also gave its blessing to healthcare providers to use improvised masks during the public health emergency […]
Trump slams 3M over foreign respirator sales, invokes DPA
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 […]
Trump orders GM to make ventilators
After a deal between General Motors and Ventec Life Systems to produce 80,000 ventilators briefly appeared halted, President Trump yesterday ordered GM to proceed under the Defense Production Act. A New York Times report earlier on Friday said the Federal Emergency Management Agency had paused the $1 billion plan, saying it needed time to determine […]
Trump administration to use Defense Production Act for first time
The Trump administration will use the Defense Production Act to secure about 60,000 coronavirus test kits — and will insert DPA language into a contract for 500 million protective masks, according to media reports. FEMA chief Peter Gaynor broke the news on CNN today. He stressed that the administration still wants to be careful not […]
Trump says mere threat of using Defense Production Act is enough to fight coronavirus
President Donald Trump may have signed an executive order last week that invoked the decades-old Defense Production Act, but so far he isn’t using it to boost needed medical supplies to combat the coronavirus pandemic. Trump argued during a press briefing yesterday that the mere threat of using the Korean-War-era law was enough to get […]
