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FDA Finally Takes Down Ivermectin Posts After Settlement

FDA Finally Takes Down Ivermectin Posts After Settlement

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

Social media posts…

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FDA Finally Takes Down Ivermectin Posts After Settlement

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

Social media posts urging people not to take ivermectin as a treatment for COVID-19 have been taken down by the U.S. Food and Drug Administration (FDA).

The FDA removed posts from X (formerly Twitter), Facebook, Instagram, and LinkedIn that stated: “You are not a horse. You are not a cow. Seriously y'all. Stop it.”

The posts had remained up even after the regulatory agency agreed to take them down as part of a settlement in a legal case brought by doctors who said the posts wrongly interfered with their practice of medicine.

The March 21 settlement said the FDA would take down specific posts within 21 days. The posts were made in August 2021.

The FDA has also deleted the following posts:

  • An Aug. 21, 2021, Instagram post that said: “You are not a horse. Stop it with the #ivermectin. It’s not authorized for treating #COVID.”

  • An April 26, 2022, Twitter post that said: “Hold your horses ya'll. Ivermectin may be trending, but it still isn’t authorized or approved to treat COVID-19.”

The posts directed people to an FDA webpage titled, “Why You Should Not Use Ivermectin to Treat or Prevent COVID-19.” The page itself acknowledged that the FDA has approved ivermectin for some uses but said “taking a drug for an unapproved use can be very dangerous” and “currently available data do not show ivermectin is effective against COVID-19.”

The agency pointed to a database of clinical trials testing ivermectin against COVID-19; some of the trials showed the drug works against the illness.

Doctors commonly prescribe FDA-approved drugs for a range of purposes, including some outside the scope of approval. The practice is known as off-label prescription.

The FDA’s ivermectin posts gained tremendous traction across social media and news outlets, prompting internal excitement, emails obtained by The Epoch Times showed. Millions of people saw the posts. “That was great! Even I saw it!” Dr. Janet Woodcock, the agency’s acting commissioner at the time, said in one missive.

The FDA has not alerted its followers on social media that it removed the posts.

2022, celebrated the development.

The case “sets an important legal precedent which should deter them from attempting this stunt again anytime soon,” she wrote on X. In another post, she said that “the terms we were asking for were met when we agreed to settle” and “we were not optimistic about what we would get in discovery.”

But while the posts and page have been removed, the FDA has created a new page about ivermectin and COVID-19.

Published on April 5, it states: “One of the U.S. Food and Drug Administration’s jobs is to carefully evaluate the scientific data on a drug to be sure that it is both safe and effective for a particular use. There continues to be interest in a drug called ivermectin for the prevention or treatment of COVID-19 in humans. The FDA has not authorized or approved ivermectin for use in preventing or treating COVID-19 in humans or animals.”

The page repeats the statement that “the FDA has determined that currently available clinical trial data do not demonstrate that ivermectin is effective against COVID 19 in humans,” but lacks the link to the database showing mixed results from trials.

The page also says that “health care professionals may choose to prescribe or use an approved human drug for an unapproved use when they judge that the unapproved use is medically appropriate for an individual patient.”

An FDA spokesperson previously told The Epoch Times that the settlement was not an admission of a violation of law or any other wrongdoing.

FDA has not changed its position that currently available clinical trial data do not demonstrate that ivermectin is effective against COVID-19,“ the spokesperson said. ”The agency has not authorized or approved ivermectin for use in preventing or treating COVID-19.”

Tyler Durden Mon, 04/08/2024 - 22:20

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Here’s Why “America Is Broken” And People Are Worried

Here’s Why "America Is Broken" And People Are Worried

The NY Times on Monday published an opinion piece by UPenn senior lecturer and Open…

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Here's Why "America Is Broken" And People Are Worried

The NY Times on Monday published an opinion piece by UPenn senior lecturer and Open Society Project senior fellow (!) Damon Linker titled "Why Is Biden Struggling? Because America Is Broken."

And while it's more or less a recap of what ZeroHedge readers have known for years, the essay provides a sobering dose of reality for the "You should really watch Rachel Maddow" types.

Seven months away from a rematch election pitting President Biden against former President Donald Trump, the incumbent is struggling. Mr. Biden suffers from persistently low approval ratings, he barely manages to tie Mr. Trump in national head-to-head polls and he lags behind the former president in most of the swing states where the election will be decided (despite some recent modestly encouraging movement in his direction).

The question is why. -NY Times

Biden's defenders, and the administration itself, has chalked the president's unpopularity up to "a failure of communication," however Linker instead suggests "It's usually wiser to listen to what voters are saying" (beyond the obvious concerns about the president's age).

'Too Numerous to List'

Citing a January 2021 essay in Tablet titled "Everything Is Broken," and a follow-up essay by the same author, Alana Newhsouse, who wrote that "whole parts of American society were breaking down before our eyes," Linker encapsulates why Americans are so pissed (h/t Dean Baker):

The examples are almost too numerous to list: a disastrous war in Iraq; a ruinous financial crisis followed by a decade of anemic growth when most of the new wealth went to those who were already well off; a shambolic response to the deadliest pandemic in a century; a humiliating withdrawal from Afghanistan; rising prices and interest rates; skyrocketing levels of public and private debt; surging rates of homelessness and the spread of tent encampments in American cities; undocumented migrants streaming over the southern border; spiking rates of gun violence, mental illness, depression, addiction, suicide, chronic illness and obesity, coupled with a decline in life expectancy.

That’s an awful lot of failure over the past 20-odd years. Yet for the most part, the people who run our institutions have done very little to acknowledge or take responsibility for any of it, let alone undertake reforms that aim to fix what’s broken. -NYT

Linker then writes that the above is why "angry anti-establishment populism has become so prominent in our politics over the past decade," which both Donald Trump and Bernie Sanders have capitalized on.

And Biden, a career politician, has been part of the problem (and therefore implicated in these abject societal failures), and is "badly out of step with the national mood, speaking a language very far removed from the talk of a broken country that suffuses Mr. Trump’s meandering and often unhinged remarks on the subject." (gotta get that shot in!)

That leaves Mr. Biden as the lone institutionalist defender of the status quo surrounded by a small army of brokenists looking for support from an electorate primed to respond to their more downcast message.

Linker suggests that in order to recover, Biden 'stop being so upbeat' - about the economy in particular, and stop making the election about how awful Trump is. Biden "should admit Washington has gotten a lot of things wrong over the past two decades and sound unhappy about and humbled by it."

Further, Biden "could make the argument that all governments make mistakes because they are run by fallible human beings — but also point out that elected representatives in a democracy should be up front about error and resolve to learn from mistakes so that they avoid them in the future."

"Just acknowledging how much in America is broken could generate a lot of good will from otherwise skeptical and dismissive voters," Linker suggests.

Let's see how that goes.

Tyler Durden Mon, 04/08/2024 - 16:40

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The 5 most startling retailer bankruptcies since 2020

The pandemic sent waves through the economy, and since its onset, many businesses have filed for Chapter 11 bankruptcy. These are five of the most surprising…

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When a business files Chapter 11 bankruptcy, that doesn’t mean it has declared itself kaput — far from it. 

Filing Chapter 11 is like sending out a SOS signal: It allows the business to keep operating while attempting to restructure operations and pay down its debts (unlike a Chapter 7 bankruptcy filing, which closes the company and liquidates its assets). The recovery rate of a business filing Chapter 11 is said to be anywhere between 10% and 40%.

But no two Chapter 11 bankruptcies are alike. You might be surprised to hear that some of the world’s largest companies — such as American Airlines, Marvel Entertainment, and General Motors — have filed Chapter 11 at one point, but through mergers, new revenue streams, or simply by operating smarter, all managed to crawl back to profitability. 

Other big names weren’t as fortunate: Funeral rites were observed for Lehman Brothers and WorldCom, for example, because they had been operating fraudulently — even though some argued, in the case of Lehman, that they were “too big to fail.”

Related: Boeing's turbulent descent: The company’s scandals & mishaps explained

How many businesses have filed Chapter 11 since the COVID-19 pandemic?

The COVID-19 pandemic, caused by the SARS-CoV-2 virus, not only made millions of people very sick; it also had a profound impact on the way we live, work, and shop. At the onset of 2020's stay-at-home-orders, hundreds of restaurants shuttered, including household names like Ruby Tuesday, California Pizza Kitchen, and Sizzler. 

According to U.S. Federal Courts, business Chapter 11 filings spiked in 2020 while Chapter 7 filings actually decreased. But as vaccines were developed and people returned to work and school, they also resumed their former shopping habits — in fact, mall traffic in 2023 was down only 5.8% compared to 2019, which is much better than it was in 2021, when it was off 15%. 

Yet more turbulence was felt in the years following the pandemic, as government stimulus from the CARES Act, which had helped many businesses make payroll and meet other operating expenses, expired in 2021.

Bankruptcy filings by chapter 2019–2023

Source: U.S. Courts

YearChapter 7Chapter 11

2023

261,277

7,456

2022

225,455

4,918

2021

288,327

4,836

2019

480,201

7,020

Through such choppy waters, we examine a few of the biggest-name retailers that went belly up  — and which ones have risen from the ashes under new management.

5 big-name Chapter 11 bankruptcies in retail

Rite Aid plans to close roughly 10% of its 2,300 locations in 2024.

FREDERIC J. BROWN/AFP via Getty Images

Rite Aid

It was the country’s third-largest drugstore chain — only Walgreens and CVS were bigger — but thanks to sluggish sales, mounting debt, and federal investigations into whether it illegally filled prescriptions during the opioid crisis, Rite Aid filed Chapter 11 in October 2023. 

Earlier in the year, the chain had reported a $241 million quarterly loss due in part to a reduction in revenue from COVID-19 vaccines and rapid tests. Rite Aid simply couldn’t keep up with the convenience of shopping at the pharmacies at big-box stores like Walmart, Target, and Costco. 

As part of its Chapter 11 agreement, the company secured $3.5 billion in financing and appointed a new chief executive, Jeff Stein, to lead its corporate reorganization. Rite Aid also planned to close 200 stores in 2024 but not before transferring customer prescriptions to nearby pharmacies. In addition, it gave its 45,000 employees the option to transfer to other stores “when possible.” 

Related: How much does Walgreens pay? Entry-level positions, benefits & more

Who would have thought that Bed Bath & Beyond would get scooped up by one of its biggest competitors?

Bed Bath & Beyond

Many people thought Bed Bath & Beyond’s days were numbered when it filed Chapter 11 in April 2023 — after all, it closed all 376 stores across the U.S., and its stock was terminated from the over-the-counter trading market. This came after reporting a quarterly loss of $393 million and on the heels of several years of declining sales, competition from online home goods retailers like Wayfair, and a snarled COVID-19-related supply chain

Plus, who could forget BBBY’s meme stock trading frenzy in January 2021, when Reddit contributors drove up prices 99%, only to come crashing back down? When the dust settled, Overstock bought the business for a blue-light special of $21.5 million in June 2023, then took its name and merged businesses. 

Bed, Bath & Beyond now sells kitchen, bath, and furniture completely online and has added more than 600,000 new products to its inventory.

J. Crew is using big discounts to lure back customers.

J. Crew

The first big retailer to capsize during the pandemic, J. Crew filed Chapter 11 in May 2020. But it wasn’t only the fact that retail sales in general withered at the start of COVID-19 — the Commerce Department reported a 50% decline in sales in March 2020 alone — J. Crew had also been saddled with $1.7 billion (that’s with a b) in long-term debt, which weighed heavily on its balance sheet even while its operations were profitable. 

The upscale lifestyle apparel seller received a $400 million line of credit from hedge fund Anchorage Capital Management, which became majority owner and, combined with additional loans from Davidson Kempner Capital Management LP and Bank of America, managed to convert its debt into equity, exiting bankruptcy proceedings that August. 

But J. Crew is not out of the woods. Ever since creative director Jenna Lyons left in 2017, it has yet to come out with a line of clothing consumers want to pay full price for, and Standard & Poor’s downgrade of parent company Chinos Intermediate 2 LLC from “stable” to “negative” in the third quarter of 2023 raised alarm bells. 

However, the preppy chain posted a 9% sales increase for its fiscal year ending February 1, 2024,  due in part to holiday sales, which slashed apparel prices by as much as 75%. Paradoxically, J. Crew just might now be one of the best stores to shop at for discounts.

Related: A pre-IPO History of Reddit: From “front page of the internet” to billion-dollar valuation

The beleaguered clothing stalwart has ambitious plans for 2024.

Justin Sullivan/Getty Images

JCPenney

You’d think a company that survived two World Wars and made a cameo in "Back to the Future" could stand the test of time — and it just well might. Founded in 1902 by James Cash Penney as a dry goods store in Kemmerer, Wyoming, the chain expanded throughout the American West before introducing clothing to its lineup in the 1960s. 

Wisely venturing into the pharmacy business, launching a mail order catalog, and offering customers the option to make their purchases through credit paid off in spades, Penney’s peaked in the 1970s with more than 2,000 stores worldwide. But after decades of declining sales, accumulating a boatload of debt during the 2007-2008 financial crisis, and losing customers in droves to Target and Walmart (a familiar refrain), the COVID-19-related closure of Penney’s 800 remaining stores in early 2020 seemed like the final nail in the aging retailer's coffin. 

JCPenney filed Chapter 11 that May, only to emerge, phoenix-like, eight months later. The brand permanently closed 200 stores, restructured its $4 billion debt, and took on two new owners — they just happened to be the country’s largest shopping mall owners, Simon Properties and Brookfield Asset Management, thus ensconcing Penney’s place as a retail “anchor.” 

In 2021, Mark Rosen, formerly of Levi Strauss & Co., became CEO, and in 2023, he announced $1 billion worth of upgrades to the JCPenney website and app, as well as renovations of its brick-and-mortar stores. Here’s the cincher: Doing so wouldn’t require taking on any more debt. “We’re in a really strong financial position right now,” Rosen said.

The COVID-19 pandemic boosted Guitar Center's online sales but couldn't replace losses from its store closures.

AaronP/Bauer-Griffin/GC Images

Guitar Center

It’s hard to believe this mecca for rock n’ roll musicians was originally called Organ Center and sold church organs and small appliances. That all changed in 1964, shortly after The Beatles came to America, when one of owner Wayne Mitchell's vendors told him that he needed to buy Vox amplifiers in order to continue purchasing organs. 

Mitchell figured that if he was selling amps, why not stock a few guitars, too? They quickly sold out; Mitchell changed his store’s name, and the rest was history. Riding the hair metal craze of the 1980s that glorified guitar virtuosos like Eddie Van Halen, Guitar Center expanded into 30 locations by the 1990s. It also diversified its portfolio with acquisitions of Musician’s Friend, a mail-order musical instrument company; Music & Arts, which provided in-store music lessons; and in the early 2000s, partnered with Activision, the video gaming giant, on its smash hit “Guitar Hero.” 

But the good times and rock & roll didn’t last forever. Over the next decade, Guitar Center underwent a series of leveraged buyouts from private equity firms, each time saddling it with more debt. It tried cutting costs by stocking fewer name brands and laying off staff — many of whom had decades of experience that justified their salaries. 

Customers noticed the changes and simply stopped coming, shopping online instead. But right before the pandemic, Guitar Center staged a comeback, posting 10 straight months of sales growth, but while new audiences were found for guitars and online lessons during the COVID-19 lockdown, Guitar Center faced the double whammy of seeing $1 billion in debt come due and the closure of its brick-and-mortar stores. 

It entered Chapter 11 in November 2020, although its management team already had a strategy in place. It invested $165 million in the company while eliminating most of its debt. Guitar Center also issued $375 million in senior secured bonds and exited Chapter 11 that December.

Related: Is shrinkflation a big deal? Definition, examples & impact on headline inflation

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New diagnostic tool achieves accuracy of PCR tests with faster and simpler nanopore system

Over the past four years, many of us have become accustomed to a swab up the nose to test for COVID-19, using at-home rapid antigen tests or the more accurate…

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Over the past four years, many of us have become accustomed to a swab up the nose to test for COVID-19, using at-home rapid antigen tests or the more accurate clinic-provided PCR tests with a longer processing time. Now a new diagnostic tool developed by UC Santa Cruz Distinguished Professor of Electrical and Computer Engineering Holger Schmidt and his collaborators can test for SARS-CoV-2 and Zika virus with the same or better accuracy as high-precision PCR tests in a matter of hours.

Credit: Mohammad Julker Neyen Sampad, UC Santa Cruz

EMBARGOED UNTIL APRIL 8, 2024 AT 3:00 PM U.S. ET/ 12:00 PM PT

Over the past four years, many of us have become accustomed to a swab up the nose to test for COVID-19, using at-home rapid antigen tests or the more accurate clinic-provided PCR tests with a longer processing time. Now a new diagnostic tool developed by UC Santa Cruz Distinguished Professor of Electrical and Computer Engineering Holger Schmidt and his collaborators can test for SARS-CoV-2 and Zika virus with the same or better accuracy as high-precision PCR tests in a matter of hours.

In a new paper in the journal Proceedings of the National Academy of Sciences, Schmidt and the project team describe their system, which combines optofluidics and nanopore technology to create a lab-on-a-chip diagnostic system. The team’s success with animal models makes them hopeful that this technology could be a major innovation for the future of rapid diagnostics. 

“This could turn into the next big diagnostic system,” said Aaron Hawkins, a professor of Electrical and Computer Engineering at Brigham Young University and a senior author on the paper. “You get sick, you go to the hospital or doctor, and their tests rely on this technology. There’s a path where this could be installed right there [in a hospital or clinic], so you wouldn’t have to wait to get your results.”

This research is a result of longstanding collaboration between Schmidt, Hawkins, and Professor Jean Patterson at the Texas Biomedical Research Institute. 

Faster and more accurate tests

While PCR testing is currently the gold standard of accuracy for virology testing, the method falls short in several ways. PCR tests are highly complex and require chemical reactions that must be performed by skilled operators, typically at a central laboratory, sometimes taking days to get testing results back. These complex reactions are needed for the amplification of viral DNA or RNA, a process of making multiple copies of the genetic material that can introduce and amplify error. 

PCR tests can also only detect nucleic acids, the material that makes up DNA and RNA. But in the case of some diseases, it can be incredibly useful to detect other biomarkers such as proteins.

The new diagnostic tool solves both of these problems. It requires little sample preparation and is completely amplification-free and label-free, the latter meaning it does not use light to identify biomarkers. This dramatically cuts down the time and complexity of the diagnosis process.

“The potential is enormous,” Patterson said. “The idea that you don’t have to amplify to get accurate results is a huge advance, on par with how PCR was an incredible step forward when it came out.”

Diagnostics design

The new diagnostic system combines Schmidt’s area of expertise in optofluidics, which is the control of tiny amounts of fluids with beams of light, with a nanopore for counting single nucleic acids to read genetic material. The tool was designed to test for Zika and COVID-19 viruses, which have been particularly medically relevant in recent years and priority areas for the National Institutes of Health, which funded this research. 

“We built up a simple lab-on-a-chip system that can perform testing at a miniature level with the help of microfluidics, silicon chips, and nanopore detection technologies,” said Mohammad Julker Neyen Sampad, Schmidt’s graduate student and the paper’s first author. “Simple, easy, low resource tool development was our goal — and I believe we got there.” 

To run the test, a sample of biofluid is mixed in a container with magnetic microbeads. For this study, the researchers used biofluids including saliva and blood from baboons and marmosets at Texas Biomedical Research Institute.

The microbeads are designed with a matching RNA sequence of the disease for which the test is designed to detect. For example, if it’s a COVID-19 detection test, the microbeads will have strands of SARS-CoV-2 RNA on them. If there is SARS-CoV-2 virus present in the sample, the virus’s RNA will bind to the beads. After a brief waiting period, the researcher pulls the magnetic beads down to the bottom of the container and washes everything else out. 

The beads are put into a silicon microfluidics chip designed and fabricated by Hawkins’ group, where they flow through a long, thin channel covered by an ultra-thin membrane, the design of which Hawkins calls an “engineering miracle.” The beads get caught in a light beam that pushes them against a wall in the channel, which contains a nanopore, a tiny opening just 20 nanometers across — for comparison, a human hair is about 80,000 – 100,000 nanometers wide.   

The researchers apply heat to the chip, which makes the RNA particles come off the beads and get sucked into the nanopore, which detects that the virus RNA is present.

Promising results

Their trials showed that the test correctly detected the virus for each sample that the PCR test was able to detect, even at extremely low concentrations of the virus. There were instances in which the PCR test was not able to detect a case of one of the viruses while Schmidt’s system did, showing their system can be more accurate than PCR.

Overall, the microfluidics system is much smaller and less complex than a PCR machine. If this concept is brought to market as a product, its compact size could easily fit in a researcher’s lab, enabling much faster results for virology testing, increasing testing accessibility and speeding up the time to results from days to hours.

“If we build an instrument out of this system, a researcher could have that in the biosafety level-4 lab where it never leaves the room, and you can just drop in a little sample liquid, and run the test in an hour,” Schmidt said. “I think that would help speed up the testing.”

The test was run with six different biofluids, including saliva, blood, and throat swabs, which may contain different viral loads. This can enable researchers to better study how diseases pass through the body of different animals. 

While at the current stage the test was developed to detect SARS-CoV-2 and Zika viruses, researchers could make adjustments to find any virus for which they have a genetic sample. In future developments, they plan for further simplification and minimization of the system, as well as enabling it to test for multiple types of disease at once, a feature called disease multiplexing. 

Schmidt also intends to use this concept to develop diagnostic tools for cancer biomarkers and other health conditions that leave traces of DNA/RNA or protein in the body. It will likely be a few years before this concept is commercialized and brought to market. 


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