ZICAM-PULLING OFF SHELF
Posted: Tue Jun 16, 2009 2:17 pm
Ran across this today and thought some of you might want to know. There are times when things like this don't make the 6 o-clock news.
Small-cap decliners were lead by Matrixx Initiatives (Nasdaq:MTXX) down 70% on receiving a warning from the U.S. Food and Drug Administration (FDA) to discontinue selling it's Zicam product and for consumer to stop using it immediately. The FDA has indicated that there have been 130 reported cases of people losing the sense of smell after using the products. Zicam is a leading product for preventing and minimizing the effects of the common cold when the patient uses the product at the first symptoms of a cold. The FDA action affects only the nasal swabs and gels and does not apply to the tablets or lozenges.
Although Matrixx is on record stating that the product does not cause a loss of smell the company has indicated that it will consider withdrawing the products in questions, which in total account for roughly 40 percent of its sales.
Small-cap decliners were lead by Matrixx Initiatives (Nasdaq:MTXX) down 70% on receiving a warning from the U.S. Food and Drug Administration (FDA) to discontinue selling it's Zicam product and for consumer to stop using it immediately. The FDA has indicated that there have been 130 reported cases of people losing the sense of smell after using the products. Zicam is a leading product for preventing and minimizing the effects of the common cold when the patient uses the product at the first symptoms of a cold. The FDA action affects only the nasal swabs and gels and does not apply to the tablets or lozenges.
Although Matrixx is on record stating that the product does not cause a loss of smell the company has indicated that it will consider withdrawing the products in questions, which in total account for roughly 40 percent of its sales.