Medtech trade group AdvaMed sounded positive today about President Donald Trump’s decision to pause some tariffs for 90 days. AdvaMed CEO CEO Scott Whitaker said in a statement: “We are encouraged by the President’s announcement of a 90-day pause on reciprocal tariffs. This is an important decision that restores some short-term certainty to global markets, […]
Donald Trump
Medtech stocks sink in trade war
The past week has been tough on the stocks of major medtech companies, which, like many, are figuring out how to manage the Trump administration’s new global trade war. The S&P 500 briefly entered bear market territory today as it swung wildly in response to chaotic news reports about what the administration and other countries […]
Some medtech stocks hit by tariff turmoil more than others
Among major medtech stocks, Intuitive Surgical, Boston Scientific and Stryker have had an especially rough week amid the Trump administration’s unpredictable tariff moves. On March 4, President Donald Trump followed through on a previous executive order by allowing 25% tariffs (taxes on imports) on Canada and Mexico to go into effect, also doubling taxes on […]
FDA medtech regulators are among latest Trump layoffs
The AP recently reported that the Trump administration’s latest federal cuts have a significant effect on medical device regulation at the FDA. According to the report, the administration fired recently hired FDA employees reviewing, among other things, medical devices. Probationary employees (those hired within 1-2 years) in the FDA received notice of job elimination on […]
Supreme Court upholds Affordable Care Act again
The U.S. Supreme Court has turned back a third Republican challenge to the Affordable Care Act (ACA), this time by a 7-2 vote. The latest challenge to the law popularly known as Obamacare came from Texas and other states, backed by the administration of former President Donald Trump. The justices ruled that the challengers lacked legal standing […]
Trump advisor urged PPE push, drug scale-up early in pandemic
A top advisor to former President Donald Trump urged his pandemic response team in February 2020 to respond swiftly to the spread of COVID-19, but told Trump that his recommendations had been largely ignored. Then-assistant to the president Peter Navarro wrote an impassioned memo to Trump on March 1, 2020, recommending that the federal government boost […]
Pandemic Emergency Manufacturing Act would supplement DPA
A rewritten pandemic manufacturing bill was introduced to both houses of Congress yesterday to enable the federal government to manufacture or contract with existing manufacturers to make products to fight COVID-19. The bill, introduced by Sen. Elizabeth Warren (D-Mass.) and Rep. Jan Schakowsky (D-Ill.), builds off the COVID-19 Emergency Manufacturing Act, introduced in 2020 to […]
What’s next for the FDA and for Stephen Hahn?
Outgoing FDA commissioner Stephen Hahn says he needs some time to reflect on his future after leading the FDA for a little over a year. It’s hard to blame him. Hahn’s brief tenure at FA has been rocky, to say the least. Get the full story on our sister site, Medical Design & Outsourcing.
Medtech takes a stand on D.C. rioting
The medtech industry has joined other business and industry groups in condemning Tuesday’s siege of the Capitol in Washington, D.C. by supporters of President Donald Trump. The National Manufacturers Association called for Vice President Mike Pence to invoke the 25th Amendment to remove President Donald Trump from office. The Business Roundtable tweeted a call for an end […]
Biden to bolster COVID-19 vaccine production with Defense Production Act
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 […]
Guess who the pharma industry is supporting for president
The pharma industry has put its weight behind Democratic presidential candidate Joe Biden, reversing a longstanding fundraising trend that has favored the GOP. Republican candidates have received 64% of pharma industry contributions since 1990, according to the Center for Responsive Politics’ Open Secrets. But the industry is shifting its support to Democrats in 2020. So far, donors with links […]
