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The US Food and Drug Administration on Thursday announced the approval of?the first generic version of EpiPen.The auto-injector pen delivers the drug epinephrine to patients experiencing a severe allergic reaction that, if untreated, could develop into the life-threatening condition of anaphylaxis. The medication is delivered into a muscle as a single dose, like a shot, through an injector pen with a spring.Allergies from food, bug bites, medications and latex can cause life-threatening reactions.The newly approved generic is made by Teva Pharmaceuticals and offers an alternative for patients who, until now, have been able to use only the brand-name EpiPen made by Mylan. It is approved in a smaller dose for children, as well.There are two other brand products on the market for a severe allergic reaction: Adrenaclick and Auvi-Q.The newly approved option made by Teva is the only approved non-brand option and can be substituted only for Mylan's EpiPen."Today's approval of the first generic version of the most-widely prescribed epinephrine auto-injector in the U.S. is part of our longstanding commitment to advance access to lower cost, safe and effective generic alternatives once patents and other exclusivities no longer prevent approval," FDA Commissioner Dr. Scott Gottlieb said in a statement announcing the approval.In recent years, Mylan came under fire for a price increase that put the product out of reach for many who needed to keep the drug on hand. 1488

The United States and China are acting tough over trade, but they're also busy talking to try to stop the situation spiraling out of control.President Donald Trump ramped up tensions last week by ordering tariffs on about billion worth of Chinese goods just weeks after announcing of sanctions on steel and aluminum imports. Beijing has responded with plans to target billion worth of US products and warnings that it's ready to inflict more pain.The moves have fueled fears that the situation could escalate into a full-blown trade war between the world's two largest economies. But Treasury Secretary Steven Mnuchin said Sunday that he's been talking to Chinese officials in an effort to prevent that."We're not afraid of a trade war, but that's not our objective," he said in an interview on Fox News."We are going to proceed with our tariffs ... we're also working on investment restrictions," Mnuchin said. "But we are simultaneously having negotiations with the Chinese to see if we can reach an agreement."The US government wants China to do a lot more to open up its vast economy to US businesses and bring down the massive trade deficit between the two countries.Trump has set a target of cutting the deficit in goods with China by 0 billion. It soared to 5 billion last year, according to US figures.Mnuchin said the United States wants China to do away with rules that require foreign companies to set up joint ventures with Chinese firms in many industries, such as automobiles, and to stop forcing American businesses to hand over valuable intellectual property in order to operate in China. Intellectual property theft is the reason the Trump administration gave for the planned billion in tariffs on Chinese goods.Mnuchin and US Trade Representative Robert Lighthizer detailed the US requests in a letter to a top Chinese economic official late last week, according to the Wall Street Journal. They included asking Beijing to reduce tariffs on American cars, increase spending on US semiconductors and provide greater access to the Chinese financial sector, the Journal reported, citing unidentified people with knowledge of the matter.A Treasury Department spokesperson declined to confirm the report."We are having very productive conversations with them," Mnuchin told Fox, adding that he was "cautiously hopeful" that the two sides could reach a deal. But in the absence of "an acceptable agreement that the president signs off on," the Trump administration will press ahead with the tariffs and other measures, he warned.China's point man for the talks is Liu He, a Harvard graduate who is one of President Xi Jinping's most trusted advisers. Liu was in Washington for talks with US officials the week that Trump announced plans for the tariffs on steel and aluminum and was recently appointed to the position of vice premier.Mnuchin and Liu spoke as recently as this weekend."Secretary Mnuchin called Liu He to congratulate him on the official announcement of his new role," the Treasury spokesperson said. "They also discussed the trade deficit between our two countries and committed to continuing the dialogue to find a mutually agreeable way to reduce it."China's official news agency Xinhua also reported the conversation, saying that Liu criticized the US allegations of Chinese intellectual property theft and warned Mnuchin that China "has the capability to safeguard its national interest."But Liu also said that China "hopes to see both sides remain sensible and work together to preserve the overall stability of China-US trade relations," according to the Xinhua report.Some experts are skeptical that Beijing will give Trump what he wants."China may be able to come up with some big ticket imports to allow it to appear to be trying to reduce the bilateral trade imbalance," Mark Williams, chief Asia economist at research firm Capital Economics, wrote in a note to clients on Friday. "But China won't be able to reduce the annual imbalance by 0bn as Mr Trump has demanded."And "the chances of China making substantive changes to its practices on intellectual property are also low," Williams said, adding that the practices are seen in Beijing as "a key element" of efforts to develop the Chinese economy.  4274

The Trump administration's executive order threatening to withhold funding from sanctuary cities is unconstitutional, a US appeals court said Wednesday.This story is developing. 190

The University of Iowa ticket office says they are suspending ticket sales for the upcoming football season.In a statement on their ticket website, school officials said that those who renewed their season tickets and paid their per-seat contributions by June 30 would be included in any potential seating plans for Kinnick Stadium.The university also announced that the Hawkeye Express would not operate for the upcoming season because of the potential of reduced capacity.“Hawkeye fans are excited about the upcoming season, and we appreciate their continued enthusiasm and support,” said Henry B. and Patricia B. Tippie, Director of Athletics Chair Gary Barta. “With the current information available, we need to pause additional sales and focus on reduced-capacity seating models based on our season ticket holders. We anticipate finalizing this by late July and will share it with our fans. The option of having the ability to accommodate as many Hawkeye fans who are comfortable attending a game in Kinnick Stadium is still one of the scenarios.”New sales of the digital season pass, mini-plans, and single-game ticket sales were also put on hold. 1161

The Trump administration plans to eliminate routine audits of lenders for violations of the Military Lending Act, according to internal agency documents, The New York Times reported on Friday.Mick Mulvaney, the interim director of the Consumer Financial Protection Bureau, plans to terminate the supervisory examinations of lenders, arguing proactive oversight is not laid out in the legislation, according to the report.The proposal to weaken oversight under the Military Lending Act, which was created to protect military service members and their families from financial fraud, predatory loans and credit card gouging, came as a surprise to advocates of military families, the report stated. Those advocates have pressed the government to put a stop to unethical lenders.The agency has been critical in fighting lender misconduct, rolling out mortgage and payday-lender rules and cracking down on bad behavior by penalizing Citigroup, Wells Fargo and many other lenders.In lieu of conducting examinations, the agency will rely on complaints from its websites, hotlines, the military and people who believe they are victims of fraud, the Times reported.President Donald Trump has tapped Kathleen Kraninger to succeed Mulvaney as chief of the consumer watchdog agency. Kraninger, who works under Mulvaney, is expected to face a tough Senate confirmation battle.Under Mulvaney, the bureau has undergone major changes opposed by both Democrats and consumer advocates. In June, Mulvaney effectively terminated a board of advocates who advised the agency about fair lending and underserved communities. The advisers were told on a conference call that the board would not meet until new members were appointed. The CFPB, however, insisted nobody had been fired.The government watchdog agency, which is charged with consumer protection in the financial sector, was created after the financial crisis with the passage of the 2010 Dodd-Frank Act. 1948