MedTech 100 roundup: Stocks were practically unchanged last week

Despite plenty of ups and downs coming in the stock market for the medtech industry, there was hardly any movement from week to week.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.6 points at the end of last week (Aug. 21). Overall, medtech stocks saw a -0.2% decrease from the 89.77-point total at the same time a week prior (Aug. 14).

Once again, the index nearly reached a high point during the COVID-19 pandemic, as on Aug. 18, it hit 90.4 points for the second time in as many weeks, a total that nearly poked past the previous mid-pandemic high (90.45), which came on Aug. 5.

The most recent high mark represents just a -2.1% dip from the Feb. 19 high point of 92.32, while the tally at the end of the week marks a -2.9% decrease from that pre-pandemic high.

Meanwhile, the S&P 500 Index saw a 0.72% increase from Aug. 14 to Aug. 21, having reached record highs on Aug. 18. Meanwhil…

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J&J to acquire Momenta for $6.5B

Johnson & Johnson (NYSE:JNJ) announced today that it entered into an agreement to purchase Momenta Pharmaceuticals (NSDQ:MNTA) for $6.5 billion.

New Brunswick, N.J.-based Johnson & Johnson will pay $6.5 billion in an all-cash transaction for the developer of novel therapies for immune-mediated diseases, according to a news release.

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

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