FDA withdraws Covid antibody treatment Evusheld because it’s not effective against 93% of subvariants

Evusheld (tixagevimab and cilgavimab) injection, a new COVID-19 treatment that people can take before becoming symptomatic. (Chris Sweda/Chicago Tribune/Tribune News Service via Getty Images) Chris Sweda | Tribune News Service | Getty Images The Food and Drug Administration on Thursday pulled its authorization for AstraZeneca‘s Evusheld, an antibody injection that people with weak immune systems relied on for additional protection against Covid-19. The FDA pulled Evusheld from the market because it is not effective against more than 90% of the Covid subvariants that are currently circulating in the U.S. The…

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FDA advisors recommend replacing original Covid vaccine with bivalent omicron shots for all doses

The new COVID-19 booster which includes protection for Omicron at AltaMed Health Services in South Gate on Thursday, October 6, 2022. Sarah Reingewirtz | MediaNews Group | Los Angeles Daily News via Getty Images The Food and Drug Administration’s independent advisory committee on Thursday recommended replacing Pfizer and Moderna’s original Covid vaccine used in the U.S. for everyone’s first two immunizations with the new omicron shots. If the FDA accepts the advisors’ recommendation, the U.S. would likely phase out the companies’ vaccines developed in 2020 against the original strain of…

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FDA has not observed stroke risk among seniors who received Pfizer booster after extensive review

A nurses fills up syringes for patients as they receive their coronavirus disease (COVID-19) booster vaccination during a Pfizer-BioNTech vaccination clinic in Southfield, Michigan, September 29, 2021. Emily Elconin | Reuters The Food and Drug Administration has not seen any indication that seniors face an increased risk of stroke after receiving Pfizer’s omicron booster shot, a federal health official said Thursday. The FDA launched an extensive review of federal data after investigators at the Centers for Disease Control and Prevention detected a possible risk of stroke for seniors who received…

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Smartphone shipments plunge to a low not seen since 2013 — their largest ever decline

Apple maintained its position as the world’s largest smartphone maker by shipments in the fourth quarter of 2022, according to IDC. However, iPhone shipments declined 14.9% year-on-year. Stanislav Kogiku | SOPA Images | Lightrocket | Getty Images Global smartphone shipments plunged in the fourth quarter of 2022 — usually a big holiday shopping period — thanks to macroeconomic weakness and soft consumer demand, according to market research firm IDC. Electronics firms shipped 300.3 million smartphones in the October to December quarter, an 18.3% year-over-year fall, IDC said in a report…

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Omicron booster shots provide some protection against mild illness from Covid XBB subvariants, CDC says

Pfizer‘s and Moderna‘s omicron booster shots reduced the risk of mild illness from the XBB family of subvariants by about 48% compared to people who did not receive the vaccine, according to a study from the Centers for Disease Control and Prevention. The CDC study published Wednesday provides the first estimate of the omicron booster shots’ real-world effectiveness against the XBB family of subvariants. Some scientists have warned the XBB subvariants could cause another Covid wave because they are so good at evading the antibodies that block infections. CDC officials,…

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Abortion pill manufacturer GenBioPro sues West Virginia, argues FDA rules pre-empt state ban

The abortion pill manufacturer GenBioPro on Wednesday sued to overturn West Virginia’s ban on abortion because it restricts access to a medication approved by the Food and Drug Administration. The lawsuit, filed in federal court in West Virginia’s southern district, argues that FDA regulations on medications such as the abortion pill pre-empt state law under the U.S. Constitution. Access to the pill, called mifepristone, has become a major legal battleground in the wake of the Supreme Court ruling that overturned federal abortion rights last June. A dozen states, including West…

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Weekly mortgage demand jumps 7% as interest rates drop to lowest level since September

A For Sale sign is posted in front of a property in Monterey Park, California on August 16, 2022. Frederic J. Brown | AFP | Getty Images Mortgage interest rates fell for the third straight week, while mortgage demand also rose again. Total application volume increased 7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.2% from 6.23%, with points increasing to 0.69 from…

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Inflation is cooling, but prices on many items are going to stay high for months

A grocery store in New York. Wang Ying | Xinhua News Agency | Getty Images Inflation may be cooling. But, for most Americans, the price of a cup of coffee or a bag of groceries hasn’t budged. In the months ahead, the big question is whether consumers will start to feel relief, too. related investing news Over the past few months, many of the key factors that fueled a four-decade high in inflation have begun to fade. Shipping costs have dropped. Cotton, beef and other commodities have gotten cheaper. And…

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FDA proposes new lead limits for baby food to reduce potential risks to children’s health

Jgi/jamie Grill | Tetra Images | Getty Images The Food and Drug Administration proposed new limits Tuesday on lead in baby food, in an effort to reduce exposure to a toxin that can impair childhood development. The lead limits apply to processed food consumed by children younger than two years old. In a statement, FDA Commissioner Dr. Robert Califf said the limits would reduce lead exposure from these foods by as much as 27%. The proposed lead limits are not legally binding on the industry, but the FDA said it…

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Making salary ranges public may shrink pay gaps but slow wage growth

The rise of pay transparency laws in the United States could change how the nation’s workers negotiate their annual salaries in today’s fast-changing labor market. As layoffs mount in the face of recession fears, the increased number of job seekers will be seeing more positions in states that mandate pay ranges be publicly listed. Colorado became the first state to require public disclosures of salary ranges in 2021. Now jurisdictions including Washington state, California, and New York City have taken up similar mandatory public disclosure laws. These measures typically affect…

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