MedTech 100 roundup: Stocks tick back up to open July

After a solid start to July, the medtech industry continues to experience a stock market roller coaster amid the COVID-19 pandemic.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 84.25 points at the end of last week (July 3). That total represents a 2.9% increase from the 81.88-point total at the same time a week prior (June 26), resulting in another significant direction change, following a -3.7% dip just one week before.

Meanwhile, the S&P 500 Index saw a 4% bump from June 26 to July 2 (market close before a holiday), and the Dow Jones Index fared similarly well, posting a 3.2% increase over the same period of time. Both indexes mirrored the medtech industry’s changes, having each posted decreases the week prior.

Medtech’s lowest point during the COVID-19 pandemic remains at 62.13 on March 23. Since then, the industry’s stocks have experienced 35.6% growth in total. Stocks in the indu…

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Novartis, Alexion charged with FPCA violations

Novartis (NYSE:NVS) and Alexion Pharmaceuticals (NSDQ:ALXN) were charged with violations of the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA).

The Securities & Exchange Commission (SEC) announced that the pharmaceutical companies both committed violations and both agreed to pay millions of dollars to settle the charges. Novartis settled to pay over $112 million and Alexion agreed to pay more than $21 million.

Get the full story at our sister site, Drug Discovery & Development.

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