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☆ This under-the-radar consumer products stock could rally nearly 30%, Goldman Sachs says
▼ + stars: | 2023-10-25 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

SharkNinja 's history of innovation will set its stock for an extremely positive growth outlook, according to Goldman Sachs. The investment bank initiated coverage of the consumer products company with a buy rating, setting a 12-month price target of $52. Since listing on the New York Stock Exchange at $30 a share this summer , SharkNinja has rallied 36%. SN YTD mountain SN YTD chart Analyst Brooke Roach pointed to the firm's established track record of market disruption and solid growth across product lines. Meanwhile, the analyst highlighted the company's success in entering new categories, which could also provide incremental growth opportunities.

Persons: SharkNinja, Goldman Sachs, Brooke Roach, Roach, — CNBC's Michael Bloom Organizations: New York Stock Exchange

The company's third-quarter sales volumes were also up against a tough comparative period from last year, when the recall of a rival U.S.-based company's infant formula boosted sales of Reckitt's Enfamil products there. Reckitt said quarterly like-for-like net sales rose 3.4%, behind the 3.7% growth analysts had expected in a company-supplied poll. Rival consumer products makers who have raised prices over the past two years have said in recent weeks that sales volumes could soon see improvements. The price/mix for Reckitt's products, which include Nurofen tablets and Durex condoms, rose 7.5%. Volumes declined 4.1% compared with last year.

Persons: Andrew Kelly, Reckitt, Kris Licht, Bernstein, Bruno Monteyne, Richa Naidu, Jason Neely, David Evans, Helen Popper Our Organizations: Benckiser, REUTERS, Wednesday, Thomson Locations: Manhattan , New York City, U.S

☆ Netflix wants its own version of 'The Bear' and more 'Dahmer'-style true crime. Here's its series wish list, per Hollywood insiders and leaked agency documents.
▼ + stars: | 2023-10-25 | by ( Lucia Moses | ) www.businessinsider.com time to read: +9 min

Several producers, agents, and other dealmakers also weighed in for this story about the content market and what the streamers are looking for. In short, broadcast network-type shows that will grab broad viewership are the top priority for Netflix and all its competitors. Netflix wants another 'Squid Game' and more true crime, but 'nothing too political'"Squid Game." And for its version of Hulu's "The Bear," it wants a series set in a fast-paced world, but not a restaurant. In unscripted and non-fiction programming, per both documents and Insider's sources, true crime remains a big area of focus for series as well as films.

Persons: aren't, It's, Meghan Markle, MoffettNathanson, Fox, Shonda Rhimes, Michelle Obama, it's, Netflix execs, Dahmer, FreeVee Organizations: Hollywood, Netflix, Netflix Netflix, AMC, NBA, Sydney Locations: USA, Korea, Hollywood, Beach

☆ Apple supplier Foxconn says it will cooperate with Chinese authorities on tax, land use investigations
▼ + stars: | 2023-10-23 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Apple supplier Foxconn, officially known as Hon Hai , said it will cooperate with Chinese authorities on investigations, following a report that officials are conducting tax audit inspections and reviewing land use of Foxconn subsidiaries. State media Global Times reported on Sunday, citing unnamed sources, that multiple offices of Hon Hai's subsidiaries across China had been subjected to tax audits and on-site investigations into land use. Hon Hai Technology Group is the world's largest contract electronics manufacturer. "Legal compliance everywhere we operate around the world is a fundamental principle of Hon Hai Technology Group (Foxconn). Hon Hai's Taipei-listed shares fell 3.29% in early Monday morning trade.

Persons: Hai, Hai's Organizations: Foxconn, Global Times, Hai Technology Locations: China, Hai's Taipei

(AP) — The U.S. Environmental Protection Agency on Monday proposed banning the cancer-causing chemical trichloroethylene, which can be found in consumer products including automobile brake cleaners, furniture care and arts and crafts spray coating. “Today, EPA is taking a major step to protect people from exposure to this cancer-causing chemical.”Massachusetts Sen. Edward Markey, who has led the effort to ban TCE, welcomed the move. Political Cartoons View All 1215 Images“With this rule, we can see a future where we will no longer be manufacturing, processing and distributing a chemical known to be deadly,” Markey said. The chemical presents an “unreasonable risk of injury to health or the environment” in 52 of 54 uses in industrial and consumer products, the EPA has found. The 2016 law required the EPA to evaluate chemicals and put in place protections against unreasonable risks.

Persons: TCE, Michal Freedhoff, Massachusetts Sen, Edward Markey, ” Markey, “, Anne Anderson, Jimmy, Anne, ” Anderson, Frank, Matthew Daly Organizations: Environmental Protection Agency, of Chemical Safety, “, EPA, Woburn, Andersons, Chemical, Press Locations: WOBURN, Mass, U.S, United States, Massachusetts, Woburn ., America, Woburn, Washington

☆ Disney revealing ESPN's financials is a key step in CEO Bob Iger's turnaround
▼ + stars: | 2023-10-21 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Disney 's (DIS) first-ever breakout of ESPN's financials is another key step in CEO Bob Iger's turnaround for the embattled entertainment giant, displaying a stable top line and plenty of room for growth. For the nine months ended July 1, ESPN delivered $12.56 billion in revenue, according to this week's 8K government filing from Disney. The experiences division, which was basically unchanged in Iger's segment overhaul, had $24.39 billion during the first three quarters of fiscal 2023. Growing losses in Disney's linear TV assets may compel the company to sell all or some of them. We'll look for continued improvement when Disney's fiscal fourth-quarter earnings come out next month.

Persons: Bob Iger's, Iger, Disney, Morgan Stanley, Goldman Sachs, Goldman, We're, Jim Cramer's, Jim Cramer, Jim, Gabby Jones Organizations: Disney, ESPN, ABC, CNBC, Penn Entertainment, ESPN Bet, Hulu, Comcast, Pro, Iger, Bloomberg, Getty Locations: Brooklyn, New York

LONDON, Oct 19 (Reuters) - Nestle (NESN.S) said it has "temporarily shut down" of one of its production plants in Israel as a "precaution", becoming the first consumer products giant to announce a response to the conflict there. Several global companies have temporarily shut some operations in Israel and asked their employees to work from home after the country came under a surprise attack by Palestinian Islamist group Hamas earlier this month. I have no comment on the development of the business," Nestle Chief Executive Mark Schneider said on an earnings call with journalists. Other multinational packaged goods companies have so far remained silent on the conflict, even as retail, healthcare and oil companies have rushed to voice their positions. The silence follows criticism of the packaged goods industry for choosing to keep one foot in Russia while continuing to sell "essential" products such as diapers and infant formula there.

Persons: Mark Schneider, Richa Naidu, Christopher Cushing Organizations: Nestle, Palestinian, Hamas, Thomson Locations: Israel, Russia

(AP) — CSX reported a 24% drop in the railroad's third-quarter profit Thursday as it hauled 2% less freight, but the CEO said customers are noticing that its trains are running more smoothly. The Jacksonville, Florida-based railroad said it earned $846 million, or 42 cents per share, in the quarter. Hinrichs said customers are noticing that the railroad's service has been consistently better over the past year, and that is opening the door to more conversations about increasing the amount they ship on the railroad. Three CSX employees have died on the job since June, prompting unions to call for better training and a review of the use of remote-control locomotives. CSX is one of the nation’s largest railroads, operating trains on more than 20,000 miles (32,000 kilometers) of track in 23 Eastern states and two Canadian provinces.

Persons: ”, Joe Hinrichs, Hinrichs, Mike Cory Organizations: — CSX, FactSet Research, CSX, ” Revenue Locations: OMAHA, Neb, Jacksonville , Florida

☆ Apple supplier Foxconn says it's 'way too late' to chase dominance in cutting-edge chips
▼ + stars: | 2023-10-18 | by ( Sheila Chiang | ) www.cnbc.com time to read: +5 min

watch nowApple iPhone supplier Foxconn , officially known as Hon Hai, said its semiconductor strategy is to focus on producing "specialty chips" — not competing in cutting-edge chips. We focus more on specialty technology," Chiang Shang-Yi, chief strategy officer for semiconductor at Hon Hai Technology Group, told CNBC's Emily Tan on Tuesday. Specialty chips are known as semiconductors found in sectors such as automotive and internet of things. And we call it specialty technology – that is not late at all," said Chiang. Chiang Shang-Yi Chief strategy officer for semiconductor"Sometimes we may have to build their cars by their drawings.

Persons: Hai, Chiang Shang, Yi, Emily Tan, Taiwan's, Chiang, Jun Seki, Hai's, Foxconn, Foxtron, – Tesla, Volkswagen –, Young Liu, Liu Organizations: Apple, Hai Technology Group, Samsung, Hai Technology, Yulon, Reuters, CNBC, Volkswagen, Research, Vedanta Locations: South, Foxconn, China, Europe, U.S, India, Karnataka, Beijing, Washington

☆ U.S. curbs export of more AI chips, including Nvidia H800, to China
▼ + stars: | 2023-10-17 | by ( Kif Leswing | ) www.cnbc.com time to read: +4 min

The U.S. Department of Commerce announced Tuesday that it plans to prevent the sale of more advanced artificial intelligence chips to China in the coming weeks. Those earlier restrictions banned the sale of the Nvidia H100, which is the processor of choice for AI firms in the U.S. such as OpenAI. The new rules will ban those chips as well, senior administration officials said in a briefing with reporters. Other rules will likely hamper the sale and export to China of semiconductor manufacturing equipment from companies such as Applied Materials , Lam and KLA. Companies that want to export AI chips to China or other embargoed regions will have to notify the U.S. government.

Persons: Gina Raimondo, They're, Raimondo, " Raimondo, — CNBC's Kristina Partsinevelos Organizations: Nvidia, U.S . Department of Commerce, Broadcom, Marvell, AMD, Intel, KLA, U.S, CNBC, . Commerce, ., Commerce Department Locations: Santa Clara , California, China, U.S, Macao, United States

☆ Tupperware picks Spanx veteran as new CEO
▼ + stars: | 2023-10-17 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

New York CNN —Tupperware Brands named consumer products veteran and former long-time CEO of Spanx Laurie Ann Goldman as its new CEO on Wednesday amid ongoing attempts to continue to survive as a business. In addition to her experience heading up Spanx for 12 years, Goldman also previously was CEO of Avon North America from August 2018 to August 2019. She was most recently CEO of OVME Aesthetics, a provider of medical aesthetics products and services prior to coming on board at Tupperware. Tupperware named Laurie Ann Goldman at its new CEO on Wednesday. Last October, in a massive shift in its business model, Tupperware rolled out its containers onto Target shelves nationwide.

Persons: Laurie Ann Goldman, Goldman, Miguel Fernandez, Tupperware, Sean Zanni, Patrick McMullan, Laurie Ann, ” Susan Cameron, “ Laurie Ann, It’s, –, – CNN’s David Goldman Organizations: New, New York CNN, Brands, Avon Locations: New York, Spanx, Avon North America, Tupperware, The Florida, Bath

☆ Stocks making the biggest moves premarket: Pfizer, Lululemon, Manchester United, Rite Aid and more
▼ + stars: | 2023-10-16 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Pfizer , Moderna , BioNTech — Shares of Pfizer dropped 1.3% after the company slashed its full-year revenue guidance by $9 billion, noting waning demand for its Covid treatment and vaccine. Following the guidance cut, Jefferies upgraded Pfizer on Monday, citing an attractive buying opportunity. Vaccine markers Moderna and BioNTech also dropped premarket, losing 4.1% and 5%, respectively. Colgate-Palmolive — The consumer products stock gained more than 1% in premarket trading after Stifel upgraded Colgate-Palmolive to buy from hold. The firm cited the stock's attractive valuation and the rapid and profitable growth of TAL's non-academic tutoring business as catalysts.

Persons: Jefferies, BioNTech, premarket, Morgan Stanley, Jim Ratcliffe, Jeffrey Stein, Dow, Charles Schwab, CNBC's Hakyung Kim, Jesse Pound, Tanaya Macheel, Michelle Fox Theobald, Lisa Han Organizations: Pfizer, Moderna, BioNTech, Colgate, Palmolive, Manchester United, Wall Street, . Rite, Dow Jones, Activision, Microsoft, TAL Education Group, UBS Locations: New Jersey

☆ U.S. tackles loopholes in curbs on AI chip exports to China
▼ + stars: | 2023-10-16 | by ( ) www.cnbc.com time to read: +4 min

The latest crackdown on tech exports to China coincides with U.S. efforts to thaw difficult relations between the world's two largest economies. One, named the H800, has as much computing power at some settings used in AI work as the company's more powerful but blocked H100 chip. The U.S. now plans to introduce new guidelines for AI chips that will restrict certain advanced datacenter AI chips that are not currently captured, the U.S. official said. In order to keep AI chips the U.S. views as too powerful from China, the official said the U.S. planned to remove one of the parameters — the "bandwidth parameter" — it has used to restrict exports of certain AI data center chips. This would likely mean the speed at which AI chips talk to each other would be reduced.

Persons: Qilai Shen, Biden Organizations: Bitmain Technologies, Artificial Intelligence, Bloomberg, Getty, U.S, Reuters, U.S . Department of Commerce, Nvidia, The, Commerce Department Locations: Shanghai, China, Beijing, United States, Washington, The U.S, Santa Clara , California, U.S

☆ Jim Cramer’s guide to investing: cyclical versus secular
▼ + stars: | 2023-10-16 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

For example, what does it mean when a stock or sector is described as "cyclical" or "secular"? Secular companies, on the other hand, are ones that can thrive regardless of the economy's health. During a recession, people must continue to eat and brush their teeth with the products of secular companies, he explained. That said, investors should aim to own both cyclical and secular stocks, he added. "Now you always want some cyclical stocks and some secular stocks in your portfolio, because you can never be completely sure where the economy's headed.

Persons: CNBC's Jim Cramer, Cramer

☆ Exclusive: Upcoming US rules on AI chip exports aim to stop workarounds
▼ + stars: | 2023-10-15 | by ( Karen Freifeld | ) www.reuters.com time to read: +4 min

The new rules will block some AI chips that fall just under current technical parameters while demanding companies report shipments of others, said the official, who provided information on condition of anonymity. Last year, government restrictions kept Nvidia (NVDA.O), the world's most valuable chipmaker, from shipping two of its most advanced AI chips to Chinese customers, chips that have become the industry standard for developing chatbots and other AI systems. The U.S. now plans to introduce new guidelines for AI chips that will restrict certain advanced datacenter AI chips not currently captured, the official said. The update to the October 2022 rules is also meant to cover AI chips as technology evolves. The new restrictions may also close a loophole that gives Chinese companies access to American artificial intelligence chips through Chinese units located overseas, as Reuters reported last week.

Persons: Florence Lo, Biden, Karen Freifeld, Max A, Chris Sanders, Lisa Shumaker, Deepa Babington Organizations: REUTERS, U.S, Reuters, U.S . Department of Commerce, Nvidia, The, Commerce Department, Thomson Locations: U.S, China, The U.S, Beijing

☆ Netflix is planning 'houses' where fans can get closer to their favorite shows
▼ + stars: | 2023-10-15 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Netflix is planning to open two permanent locations in the US by 2025. Fans will be able to eat, drink, and shop at stores based on its most popular shows, Bloomberg reported. Two "Netflix House" venues are in the works for the US with others to follow, its consumer products chief, Josh Simon, told Bloomberg. Netflix Houses will be a mix of entertainment and retail experiences, where customers can eat, drink, and buy merchandise. Further details about the locations of Netflix Houses are yet to be announced.

Persons: —, Josh Simon, we've, Simon, Ilya S, he's, It's Organizations: Netflix, Bloomberg, Service, Disney, NBC Universal, NPR, Las Vegas Locations: New York, Las

☆ Wall St Week Ahead Investors zero in on health of consumer with retail sales, earnings
▼ + stars: | 2023-10-13 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +4 min

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. Retail sales data, due out on Tuesday, may have to walk a tightrope to satisfy investors. A survey on Friday showed U.S. consumer sentiment deteriorated in October, with households expecting higher inflation over the next year. Todd, of Greenwood Capital, is focused on insight from companies about the cumulative effect of "higher inflation and higher rates on the consumer." “The conclusions from the consumer next week, I think, is going to be bad news is good news."

Persons: Carlo Allegri, that’s, Hogan, ”, Walter Todd, Todd, Jack Ablin, Ablin, Lewis Krauskopf, Ira Iosebashvili, Jonathan Oatis Organizations: New York Stock, REUTERS, Procter & Gamble, Netflix, Federal, Riley, ”, Reuters, University of Michigan, Major, Greenwood Capital, Bank of America, America Airlines Group, Treasury, Cresset, Thomson Locations: Manhattan, New York City , New York, U.S, Israel, Major U.S

However, the fall Prime event might have better prices for home goods. In fact, the best prices happened on days that were not key shopping event days. Regardless, the July Prime event offered a deeper discount to shoppers when compared to last year's October Prime sale and Super Saturday. The product did go on sale during last October's Prime member event and this past July's Prime sale, but the discounts were not as deep. Downloads of Amazon's shopping app have declined steadily during each subsequent Prime member shopping event since Amazon's Prime Days in July 2021, according to data intelligence platform Apptopia, which tracks mobile app usage for brands like Amazon.

Persons: Tom Williams, Nick Handrinos, Julie Ramhold, it's, Ramhold, iRobot's, Keurig, AF101, fryer, The Bissell Organizations: Washington , D.C, Cq, Inc, Getty, Adobe, Amazon Prime, Gallup, Finance, Deloitte, CNBC, Electronics, Deal, CoreSight Research, NBC, Scout, Amazon, Sony, Black, Health, Revlon, Philips, July's Locations: Washington ,, Research's U.S

☆ Wholesale inflation rose 0.5% in September, more than expected
▼ + stars: | 2023-10-11 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

A measure of wholesale prices rose more than expected in September, indicating simmering inflation pressures for the U.S. economy. Inflation pressures came primarily from final demand goods, which surged 0.9% on the month, while services increased 0.3%. Much of the goods prices increase came from gasoline, which jumped 5.4%, while food prices posted a 0.9% gain. Energy prices broadly rose 3.3%. On the services side, prices for final demand services less trade, transportation and warehousing rose 0.3%, while final demand trade services costs increased 0.5%.

Persons: Dow Jones, Mike Loewengart Organizations: Dow, Labor Department, PPI, Energy, Morgan Stanley's Global Investment, Federal Reserve, Fed Locations: U.S

☆ Netflix replaces top ad exec after one year in surprise shakeup, putting a company insider in charge of the growing business
▼ + stars: | 2023-10-03 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Netflix replaced its top advertising executive, Jeremi Gorman, after just a year, in a surprise shakeup of its nascent ads business. Insiders said they believed the choice of Reinhard to replace Gorman was a move designed to help sell the advertising business internally. But she's been with the company since 2016 and is known as a level-headed exec who understands the Netflix culture well. This summer, the company eliminated its lowest-priced ad-free tier to incentivize customers to sign up for the ads tier. We've built a world-class team and laid the foundations needed to create a forever ads business."

Persons: Jeremi Gorman, Gorman, Peter Naylor —, Amy Reinhard, Naylor, Reinhard, Greg Peters, Eunice Kim, Elizabeth Stone, she's, She's, they've, We've, Spencer Neumann, Peters Organizations: Netflix, Microsoft, Yahoo

☆ Stocks making the biggest moves premarket: Rivian, SolarEdge, Sphere Entertainment and more
▼ + stars: | 2023-10-02 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Sphere Entertainment — The stock jumped more than 7% after the entertainment and media company opened its Sphere venue in Las Vegas with a show from U2 on Friday night. Insulet — Shares gained 3.4% in premarket trading. Sunnova Energy International — UBS initiated coverage of the solar company with a buy rating, sending shares up 1.5% in premarket trading. Clorox — The consumer products company rose 3.3% in premarket trading after D.A. AMC Entertainment — Shares of the entertainment company moved up 2% before the bell after it announced that Renaissance: A Film by Beyoncé, would be distributed in the U.S. in December.

Persons: Jefferies, Sunnova, Clorox, Davidson, Beyoncé, Goldman Sachs, Chubb —, — CNBC's Michelle Fox, Lisa Han, Jesse Pound Organizations: ISI, Rivian Automotive, Sunnova Energy, — UBS, AMC, SolarEdge Technologies, Barclays, Nvidia, FedEx, Susquehanna, JPMorgan, Chubb Limited Locations: Las Vegas , Nevada, United States, Las Vegas, U.S

☆ Climate change could impose 'substantial financial costs' on U.S. household finances, Treasury warns
▼ + stars: | 2023-10-02 | by ( Annie Nova | ) www.cnbc.com time to read: +2 min

Between 2018 and 2022, weather and climate disasters cost more than $617 billion, it found — a record. Transportation of food and goods may also be hit by climate events, leading to more delays and shortages on store shelves. "Food insecurity disproportionately impacts lower-income households, families led by single mothers, families with children, and households in Southern states." Climate events can also lead to increased medical expenses. The Treasury report notes that in one analysis from 2012, 10 climate events led to a total of $10 billion in health-related costs.

Persons: Makatla, Joe Raedle, Graham Steele Organizations: U.S . Department of, Treasury, Treasury Department Locations: Tarpon Springs , Florida, U.S, Louisiana, Southern

[1/2] Sharpie markers owned by Newell Brands are seen for sale in a store in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsCompanies Newell Brands Inc FollowWASHINGTON, Sept 29 (Reuters) - The U.S. Securities and Exchange Commission on Friday charged Newell Brands (NWL.O) and former CEO Michael Polk with misleading investors about sales. In a settlement, Newell and Polk, without admitting or denying the SEC findings, agreed to pay civil penalties of $12.5 million and $110,000, respectively, the SEC said in a statement. Newell pulled sales forward into earlier quarters without adequate disclosure and used accounting practices that were not consistent with Generally Accepted Accounting Principles, the SEC order said. These actions made the company's core sales growth look as if it was in line with its targets and deprived investors of an accurate picture of Newell's actual sales trends, it said.

Persons: Andrew Kelly, Newell, Michael Polk, Polk, Nick Zieminski Organizations: Newell Brands, REUTERS, WASHINGTON, U.S . Securities, Exchange Commission, SEC, Thomson Locations: Manhattan , New York City, U.S, Newell, Georgia, Polk

☆ China's e-commerce discount race to the bottom puts incumbents under pressure
▼ + stars: | 2023-09-26 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +6 min

REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsSHANGHAI, Sept 26 (Reuters) - Discount e-commerce is set to dominate globally during the critical upcoming holiday shopping season in the West and Singles’ Day in China, analysts said. Platforms in China, the world’s largest e-commerce market, have recently described a “value-for-money battle” stoked by economic insecurity and a slower-than-expected retail recovery following the lifting of COVID-19 curbs late last year. “There was a clear vacuum for the discount retailer online experience ... Across the world, executives are now focusing on price pressures as discount online retailers gain increasing market share. In the West, the inflation driven consumer wants something cheaper because they're going through a moment of financial insecurity,” Ho said.

Persons: Florence Lo, ”, thrall, Sharon Gai, ” Humphrey Ho, Rui Ma, Trudy Dai, Alibaba, ” Ho, Casey Hall, Vanessa O'Connell, Aurora Ellis Organizations: PDD Holdings, REUTERS, Rights, West, Deal, Hylink, Amazon ., Tmall, Thomson Locations: China, Southeast Asia, North America, Europe, United States, Douyin, Canada, Australia, America, U.S, Amazon, Amazon . Indonesia

☆ Cough syrup deaths overseas prompt US crackdown on toxic testing
▼ + stars: | 2023-09-26 | by ( Patrick Wingrove | ) www.reuters.com time to read: +6 min

Defendants and lawyers attend a court hearing in the case of child deaths linked to contaminated cough syrups, in Tashkent, Uzbekistan August 16, 2023. Cough syrups made in India and Indonesia have been linked to deaths of more than 300 children globally. The medicines were found to contain high levels of DEG and EG, leading to acute kidney injury and death. IMPORT ALERTSThe FDA warning letters give manufacturers an opportunity to fix quality control problems or face penalties. In addition, 13 U.S. makers of consumer products like earwax removers, nasal spray, hand soap and shampoo, including Lex, were threatened with possible seizures and injunctions by the FDA.

Persons: Stringer, Paul Hastings, Peter Lindsay, syrups, Lex, Charlene Paz, Greg Landry, Patrick Wingrove, Rishika, Joyce Lee, Michele Gershberg, Bill Berkrot Organizations: REUTERS, U.S, FDA, Drug Administration, EG, Reuters, South, South Korea's LCC, LCC, Daxal Therapeutics, Herbals, South Korea’s KM Pharmaceutical, Sangleaf Pharma, Massachusetts College of Pharmacy & Health Sciences, Thomson Locations: Tashkent, Uzbekistan, U.S, India, South Korea, Switzerland, Canada, Egypt, Washington ,, Indonesia, United States, Florida, South Korea's, South, New York, Rishika Sadam, Hyderabad, Seoul

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