Mid- and small-cap medtechs find themselves at the mercy of government responses to the Covid-19 pandemic.
Success or failure on the stock markets this year depended almost entirely on whether a company’s devices could be used to treat coronavirus patients.
US drug stocks were shielded from bigger falls in the first quarter by leading coronavirus researchers, leaving groups listed in Japan and Europe to tumble harder.
The coronavirus pandemic wiped billions from global drug stock valuations in the first quarter, with the few gainers failing to offset huge losses elsewhere.
Investors are homing in on biopharma companies able to make real contributions to the coronavirus pandemic, but market frothiness is far from over.
Coronavirus-focused investors have willingly backed bona fide development and egregious publicity stunts alike.
The device sector enjoyed a mid-year IPO bonanza, but after getting away the class of 2019 had a torrid time.