"Upset with the U.S. Food and Drug Administration, Zicam maker Matrixx Initiatives Inc. has withdrawn two of its cold remedy nasal products even though company officials maintain the products are safe.
The FDA said it received more than 130 complaints from consumers saying they have lost their sense of smell after using the products.
[...]
William Hemelt, acting president and chief operating officer of Matrixx, said the FDA action was taken without reviewing research he would have been more than willing to provide.
“We think the science does not support this allegation at all,” he said. “Quite honestly, we would not be selling the product if we thought it was unsafe.”
Zicam products use a homeopathic remedy called Zincum Gluconicum 2x, which means they require FDA approval.
[...]
Brett Berty, a senior recall strategist at Stericycle Inc. in Lake Forest, Ill., is coming to Phoenix this week to meet with Matrixx officials to see if he can help the company with damage control.
Usually, he said, companies will voluntarily recall a product before the FDA gets involved. That’s not how it happened with Matrixx. The FDA stepped in and warned Matrixx that it had received more than 130 consumer complaints and that the company needed to stop marketing the product until it can put a warning label on its packaging that it could cause anosmia.
[...]
When the FDA sent the warning letter to Matrixx and advised consumers not to use certain Zicam cold remedies, on June 16, Matrixx’s stock plummeted 70 percent to $5.78 a share. It bounced up a bit to $6.13 a day later, but nowhere near its 52-week high of $19.74, near its trading point before the FDA sent the warning letter.
For the fiscal year ended March 31, Matrixx reported $13.8 million in net income on $112 million in net sales, up from $10.4 million in net income on $101 million in net sales a year ago.
Hemelt said he will be meeting with FDA regulators to discuss the issue. He also scheduled a conference call with investors.
The FDA advises against using:
Zicam Cold Remedy Nasal Gel
Zicam Cold Remedy Gel Swabs
Zicam Cold Remedy Swabs-Kid Size"
The FDA said it received more than 130 complaints from consumers saying they have lost their sense of smell after using the products.
[...]
William Hemelt, acting president and chief operating officer of Matrixx, said the FDA action was taken without reviewing research he would have been more than willing to provide.
“We think the science does not support this allegation at all,” he said. “Quite honestly, we would not be selling the product if we thought it was unsafe.”
Zicam products use a homeopathic remedy called Zincum Gluconicum 2x, which means they require FDA approval.
[...]
Brett Berty, a senior recall strategist at Stericycle Inc. in Lake Forest, Ill., is coming to Phoenix this week to meet with Matrixx officials to see if he can help the company with damage control.
Usually, he said, companies will voluntarily recall a product before the FDA gets involved. That’s not how it happened with Matrixx. The FDA stepped in and warned Matrixx that it had received more than 130 consumer complaints and that the company needed to stop marketing the product until it can put a warning label on its packaging that it could cause anosmia.
[...]
When the FDA sent the warning letter to Matrixx and advised consumers not to use certain Zicam cold remedies, on June 16, Matrixx’s stock plummeted 70 percent to $5.78 a share. It bounced up a bit to $6.13 a day later, but nowhere near its 52-week high of $19.74, near its trading point before the FDA sent the warning letter.
For the fiscal year ended March 31, Matrixx reported $13.8 million in net income on $112 million in net sales, up from $10.4 million in net income on $101 million in net sales a year ago.
Hemelt said he will be meeting with FDA regulators to discuss the issue. He also scheduled a conference call with investors.
The FDA advises against using:
Zicam Cold Remedy Nasal Gel
Zicam Cold Remedy Gel Swabs
Zicam Cold Remedy Swabs-Kid Size"
Zicam maker pulls products, but affirms safety
Phoenix Business Journal - by Angela Gonzales
Wednesday, June 17, 2009, 2:49pm MST | Modified: Thursday, June 18, 2009, 5:33am
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Well, besides the fact that Zicam is not homeopathic because it has an active ingredient (So why hasn't ANYONE tried suing them over false advertisement/mislabeling/misleading labels/etc.!?), this goes to show you that such a mentality that either exploits to tries to ascribe their products to homeopathy are not to be trusted. Granted, legitimate drugs have the same issue and the damage control the parent company is doing is not uncommon or unexpected. Still, since the general public often fails or cannot distinguish between science and bullshit, I can only hope this goes to showing the "dangers" of the practice; insomuch as it is not a perfect wonder-alternative. Maybe a good dose of "reality" will help towards the eradication of this bile. Likely not the most skeptical or scientifically valid stance on the matter but I hope you are smart enough to get what I mean.