October 1, 2019

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Pharmacies Pull Zantac Over Concern That Contaminant Poses Cancer Risk

Major U.S. pharmacies have pulled Zantac and its generic equivalent off the shelves after concern about a contaminant that poses a small cancer risk.



MARY LOUISE KELLY, HOST:

If you take Zantac, or its generic equivalent for heartburn, it’s time to consider other options. In recent days, major drugstore chains have pulled these products from the shelves. The concern is a contaminant that can increase the risk of cancer. NPR science correspondent Richard Harris reports.

RICHARD HARRIS, BYLINE: This problem came to light in June when an online pharmacy that conducts its own quality testing came across a problem with ranitidine, better known by the brand name Zantac. Valisure founder and CEO David Light says the company had recently started doing safety tests for drugs, and one of his colleagues suggested that they look at ranitidine.

DAVID LIGHT: His infant daughter was prescribed ranitidine, the syrup form that is given to infants. And so that was one of the first drugs that we tested.

HARRIS: The results were a shock.

LIGHT: We found dramatically high amounts of NDMA.

HARRIS: That’s considered a probable carcinogen and is found in various food products. But in the drug, it was in concentrations that exceeded federal safety standards. At first, they suspected this was a contaminant from manufacturing, but Light says NDMA – that’s N as in Nancy – NDMA might actually show up after the drug has left the factory.

LIGHT: Our tests in lab conditions seem to pretty clearly show that the drug is able to degrade into NDMA by itself either in the tablet or actually in the human body.

HARRIS: If that’s indeed what’s going on here, it might be an inherent property of the drug. That would be bad news for the companies that manufacture those drugs, but it’s not a problem for consumers.

MIKE CAROME: In the case of ranitidine, it is not an essential lifesaving medicine for which there are no available alternatives.

HARRIS: Mike Carome at Public Citizen’s Health Research Group says there are many other choices, and that’s left him wondering why the Food and Drug Administration hasn’t acted swiftly. France and Canada, among other countries, have taken stronger actions. And in the past few days, so have some of the major pharmacy chains in this country by pulling ranitidine products from the shelves.

CAROME: They’ve taken an appropriate public health action. I think they’re trying to build trust with their customers and retain that trust in contrast to how the FDA has approached this.

HARRIS: The FDA tells NPR it has run its own tests and validated the findings from the online pharmacy. The agency says it’s also asking drugmakers to run their own tests and to send samples to the FDA.

Richard Harris, NPR News.

Copyright © 2019 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

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Will A Season Of Extremes Lead To An Extremely Entertaining MLB Postseason?

Does having four 100-win teams in the playoffs for the first time make for an epic Major League Baseball postseason? NPR’s Mary Louise Kelly gets a preview from The Ringer’s Michael Baumann.



MARY LOUISE KELLY, HOST:

Major League Baseball is now almost literally hit or miss – teams leaguewide combined for the most home runs and strikeouts in one season. Now, for teams, a 100-win season is one for the ages. On the other hand, a 100-loss season is a total disaster. You usually see one, maybe two each year. This year, there were four of each. So will this season of extremes lead to an extremely entertaining MLB post season? Well, for that, we turn to Michael Baumann. He covers baseball for The Ringer.

Welcome.

MICHAEL BAUMANN: Hi. Thanks for having me on.

KELLY: Hey. Good to have you with us. All right. So I want to get to the postseason in just a second. But first, is all of this good for baseball fans? I mean, it’s fun to show up and see a bunch of home runs, but are we all going to get complacent – that if we show up and there aren’t at least 10 home runs in any given game, that it’s just a boring one?

BAUMANN: I don’t perceive any sort of lack of interest among your everyday fans or your – certainly baseball purists. And you know, to a certain extent, I’m one of them who would like to see the ball put in play a little bit more than it is right now. But this is just sort of how the way baseball’s played right now.

KELLY: What about on the flip side – all these teams with a hundred losses in a season?

BAUMANN: This actually is something that worries me about the future of the sport. What we’ve seen is a very small handful of teams really going all in. And that means pursuing free agents. That means prioritizing winning over financial incentives. And even teams that traditionally run huge payrolls, like the Red Sox, Yankees, the Dodgers, are starting to respond to financial incentives far more than competitive incentives. And so it doesn’t matter, necessarily, how many fans you draw because the amount of money coming in through cable and online broadcast rights is so great that teams essentially don’t have to draw fans to the ballpark.

So teams that make the effort – and we see this in attendance as ticket prices continue to go up as spending goes down – teams that made an effort in the off-season – the Phillies drew – they were very active in free agency – drew 7,000 more fans this – per game this year than they did last year. And we’ve seen ambivalence from teams that are just content to throw any old team out there and collect leaguewide revenue-sharing checks.

KELLY: All right. Well, let me focus you on the good news, which is we do have, as we mentioned, four 100-win teams in the playoffs. They are the Astros, the Dodgers, the Yankees and the Twins. Does this mean we’re in for some spectacular baseball in the postseason?

BAUMANN: I certainly hope so. Two years ago, essentially this Astros team and this Yankees team played a great seven-game American League Championship Series and followed that up with the Astros and the Dodgers having an incredibly entertaining seven-game World Series. I think there’s – as many as eight of these teams are really scary, are just loaded top to bottom with either power pitching or power hitting or, in Houston’s case, both. And I think we’re – one nice thing about baseball right now is there’s an incredible wealth of charismatic young stars. We’re going to see several of those on display.

KELLY: I’m going to put you on the spot. If you had to put money on it right now, who’s going to make it to the World Series?

BAUMANN: Before the season, I predicted Houston over Washington. I think Houston is definitely the best team in this bracket. The American League side is a little bit tougher, so that gives me a little bit of pause picking them to win it all, but I think they’re the best team.

Washington – I really like the way they’re set up with their starting pitching, with some of the hitters that they have. But they’ve got to make another round as the wild-card team. So I’m a little hesitant to pick them knowing that within a couple hours of this show going out, my National League pick could be wrong. But you know, I really like the way they – their roster’s set up for this postseason if they can make it past tonight.

KELLY: We shall see if they prove you right. Michael Baumann of The Ringer – we caught him via Skype.

Thanks so much.

BAUMANN: All right thank you.

Copyright © 2019 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

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Schwab Cuts Commissions To Zero, As Free Trading Edges Toward The Norm

Charles Schwab is slashing its online trading commission from $4.95 to zero starting Monday. The company cited competition from new online rivals.

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Wall Street is in a race to the bottom. On Tuesday, Charles Schwab said it will slash its commissions for online trades to zero in response to looming competition from app-based upstarts like Robinhood.

The brokerage firm’s stock was down 10% in the afternoon. Its competitors took a bigger hit, with TD Ameritrade shares falling 25% and E-Trade down about 17%. In its announcement, Schwab said eliminating online trading commissions equates to about $90 million to $100 million in quarterly revenue, or about 3% to 4% of revenue.

Schwab is bringing its online trading commission down for U.S. and Canadian equities and exchange-traded funds from $4.95 to zero starting next Monday. The firm already offers commission-free trades on hundreds of ETFs.

“It’s the right thing to do for clients, removing one of the last remaining barriers to making investing accessible to everyone and continuing our tradition of challenging the status quo on behalf of individual investors,” Chief Financial Officer Peter Crawford said in the announcement.

He also cited competition from both traditional e-brokers and new firms in the market.

These newer firms, including Robinhood and Acorns, market themselves with commission-free or low-cost investing and are often mobile-friendly and aimed at younger people. Crawford said Schwab isn’t feeling pressure from them yet, but didn’t want to wait too long to respond.

“It has seemed inevitable that commissions would head towards zero, so why wait?” he said.

TD Ameritrade and E-Trade charge $6.95 for online trades. And JPMorgan Chase offers 100 free trades in a customer’s first year.

It’s unclear if TD Ameritrade will match Schwab dive to zero. In an email, spokeswoman Becky Niiya said the news just came out, but her firm will remain competitive.

A representative from E-Trade couldn’t be reached for comment.

Devin Ryan, an analyst at JMP Securities, predicted Schwab’s competitors will eventually respond, given the pressure their shares are under, but Ameritrade and E-Trade would lose revenue if they match Schwab.

In a note to clients, Ryan said the brokerage industry is entering a new commission price war as free trading becomes the norm.

He said eliminating commissions will be manageable for Schwab.

“Given Schwab’s stated focus that price does matter and its roots as a low-cost provider, we think this decision was an inevitability over time as the company does not want to be in the minority in charging customers for trading,” Ryan wrote.

Editor’s note: Charles Schwab & Co. is one of NPR’s financial sponsors.

Peter Talbot is an intern on the NPR Business Desk.

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