(Mon) J&J to stop selling talc-based baby powder in U.S., Canada
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Johnson and Johnson on Tuesday said it would stop selling its talc-based baby powder in the United States and Canada as part of a broad reassessment of its consumer product portfolio prompted by the COVID-19 pandemic. J&J faces lawsuits from consumers claiming its talc products, including Johnson¡¯s Baby Powder, caused their cancer, but J&J said it remains confident in the product's safety. In October of last year, J&J recalled around more than 30,000 bottles of baby powder in the United States after the FDA said it had found trace amounts of asbestos in samples taken from a bottle purchased online. The voluntary recall was limited to one lot of Johnson¡¯s Baby Powder produced and shipped in the United States in 2018, the company said at the time. In December 2019, Johnson & Johnson said that tests showed that its baby powder was free of asbestos, after FDA investigations reported trace amounts of the material in the product.
(Tue) Taiwan's TSMC to build Arizona chip plant
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There was good news on Friday for the Trump administration's bid to wrestle global tech supply chains back from China. Taiwan Semiconductor Manufacturing Company announced its plan to build a $12 billion factory in Arizona, creating over 1,600 jobs. It comes as U.S. President Donald Trump steps up criticism of Chinese trade practices and Beijing's handling of the pandemic. Secretary of State Mike Pompeo said in a statement early Friday that the investment will increase U.S. economic independence from China. TSMC, the world's biggest contract chipmaker, is a major supplier to U.S. tech giants Apple and Qualcomm. It also supplies Chinese firms like Huawei, which Washington has put on a trade blacklist. While huge in terms of foreign investment in the U.S., the plan is small by TSMC's standards. One analyst said the budget suggests the eventual scale won't be big. Another said it's " similar to what TSMC did in China, suggesting a balance between the U.S. & China." TSMC manufactures the bulk of its chips in Taiwan and has older chip facilities in China and Washington state. Semiconductors play a key role in both consumer electronics and defense equipment. Pompeo said chips from the new TSMC plant will power everything from AI to 5G base stations to F-35 fighter jets. TSMC said that construction of the Arizona facility would begin in 2021 with production targeted to start in 2024.
(Wed) FDA raises accuracy concerns about coronavirus test
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The U.S. Food and Drug Administration voiced caution over a widely-used coronavirus test on Thursday, saying it may be unreliable. The Abbott Laboratories test is called ID Now - and it was approved by the FDA in late March. It delivers results within minutes and is used at the White House. But the FDA said in a statement that while the test can still be used on patients, it could potentially produce inaccurate results. The U.S. regulator added that it was still reviewing data on the test and working with Abbott to find other ways to study it. Abbott has distributed nearly 2 million ID Now tests. And on Wednesday, a separate, non-peer reviewed study by New York University researchers said the ID Now tests could be missing a third to nearly half of all positive cases. And a study conducted by the Cleveland Clinic in April showed that while the test detected the virus in around 85% of cases - that was still lower than some other coronavirus tests. In its statement, the FDA said that while these studies did offer quote "important information, it should be noted these studies have limitations , including small sample size , potential design biases, or tests that may not have been executed according to the manufacturer's instructions for use." Abbott has also criticized the studies, saying in a statement on Thursday that the number of patients tested in the NYU study was small - and that the Cleveland study performed the test incorrectly. Abbott also pointed to other studies showing a much higher accuracy rate for the ID Now tests. One study done by a testing clinic in Detroit said the test was accurate 98% of the time.
(Thu) France says equal access to any Sanofi virus vaccine is non-negotiable
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France on Thursday said equal access to any coronavirus vaccine developed by Sanofi was non-negotiable. It added that no country such as the United States should have priority for financial reasons. The French government's robust comments came a day after the chief executive of the French pharmaceutical giant, Paul Hudson, said vaccine doses produced in America could go to U.S. patients first. As the French backlash strengthened, Sanofi clarified that it would be made available to all. Hudson's comments have reportedly upset President Emmanuel Macron, whose office said a presidency official would meet with Sanofi representatives next week. On Thursday, French Prime Minister Edouard Philippe said on Twitter: "A vaccine against COVID-19 should be a public good for the world. The equal access for all to the vaccine is non-negotiable" Sanofi is currently working on two vaccine projects against COVID-19. One is with British rival GlaxoSmithKline, which has received financial support from the U.S. Health Department. It's working on another project with U.S. company Translate Bio that will use a different technology. The controversy has raised questions over whether Europe has been too slow to respond in terms of organizing and funding vaccine research. Sanofi has called for stronger European coordination in the hunt for a vaccine.
(Fri) Uber, Grubhub deal talks fan fears over fees
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As Uber negotiates with Grubhub about a possible takeover , restaurants are expressing their distaste for the deal. Mom-and-pop eateries struggling amid stay-at-home orders are fed up with the big commissions charged by the delivery companies that can range as high as 30% on each order. And they're upset over the discount breaks given to big chains like McDonald's. A merger would create the U.S.' largest restaurant delivery company. Grubhub now has about 300,000 U.S. restaurants on its app, while Uber Eats boasts over 100,000 in the U.S. and Canada. Some big cities are taking action. New York City Council passed an emergency bill Wednesday to cap fees to 15% of an order for delivery services and 5% for non-delivery services like marketing. A day earlier, Chicago enacted rules requiring delivery companies to give customers itemized breakdowns that include commissions and service fees paid by the restaurants to the apps. Grubhub can't afford to anger the restaurants because they make up the vast majority of establishments on its app. It is deferring up to $100 million of commission payments to a later date. For now, Uber Eats said it's waiving delivery fees for restaurants.