Novavax, Moderna Gain as Becton Dickinson Plans $3 Billion U.S. Investment

Moderna and Novavax posted strong weekly gains as plague-related events affected pandemic-era biotechnology stocks, while Becton Dickinson outlined a $3 billion U.S. manufacturing investment and Viatris agreed to acquire Pacira BioSciences for $1.65 billion.

Moderna gained nearly 7% during the week ended Oct. 11. Moderna’s shares rose just over 14% on Oct. 9 to close at $225 and reach a new 52-week high. The move extended the stock’s gains during a week when health care shares advanced alongside the broader U.S. market.

Novavax rose more than 20% during the week. The company and Moderna were among the health care stocks drawing attention as plague-related events affected pandemic-era biotechnology stocks.

Becton Dickinson outlined plans to invest $3 billion in U.S. manufacturing of medical products. The investment is intended to expand domestic manufacturing and could strengthen the company’s long-term competitiveness.

Viatris agreed to acquire Pacira BioSciences for $1.65 billion. The transaction would add two pain therapies, along with Pacira’s products and revenue, to Viatris’ portfolio.

The S&P 500 rose 0.59% Friday, Oct. 9. The Dow Jones Industrial Average gained 0.83%, while the Nasdaq Composite added 0.6%.

Moderna’s latest performance builds on its Oct. 9 52-week-high session, when its shares rose just over 14%. The health care sector’s weekly advance and the announced manufacturing and acquisition plans placed biotechnology, medical products and pharmaceuticals among the week’s notable market developments.