Zicam maker pulls products, but affirms safety - Minneapolis / St. Paul Business Journal:

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The FDA said it receivec more than 130 complaints from consumers saying they have lost their sense of smell after using the Jennifer Warren, a former school teacherf who lives in Huntsville, Ala., said she lost her sensd of smell after using Zicam to prevenrt the duration of a cold a few years ago, but had never complained to the FDA or the company because she figuredf there was no way to prove Zicam caused her She said she doesn’t want to sue Scottsdale-based Matrixs (Nasdaq:MTXX) even after learninbg others have had the same experiences. “I don’t think Zicam was created to hurt she said.
“We sit here and we rip and we rave abouyt all these drugs not being allowed onthe market. The first time anythingt goes wrong, everybody wants to go sue, sue, sue. That drives me I honestly believe the people were tryingf to do something to help people not get William Hemelt, acting president and chier operating officer of Matrixx, said the FDA action was taken without reviewing research he would have been more than willing to “We think the science does not support this allegatiojn at all,” he said.
“Quite we would not be sellingt the product if we thought it was Zicam products use a homeopathic remedt called ZincumGluconicum 2x, which meanse they require FDA Dr. Sam Benjamin, a medical doctor with a homeopathic saidhe can’t figurd out why the FDA has taken so long to deal with the “I can think of no part of alternativwe medicine that summons up more worry to conventional physicians than said Benjamin, who has a medical talk show on KTAR 92.3 FM on Saturdayds at 2 p.m. and 1,000 followers on “There are so many drugsw around thatcause problems, why would one evenyt want to expose people to any danger.
” Brett a senior recall strategist at Stericycles Inc. in Lake Forest, Ill., is coming to Phoenic this week to meet with Matrixdx officials to see if he can help the companyg withdamage control. Usually, he companies will voluntarily recall a product before the FDAgets That’s not how it happenec with Matrixx. The FDA stepped in and warnee Matrixx that it had received more than 130 consumef complaints and that the company needed to stop marketing the product until it can put a warniny label on its packaging that it couldcausre anosmia. Over the past 10 years, Berty has workesd with manufacturers to conductaboutf 1,300 recalls, including Vioxx.
“Typically, the manufacturer will work with me priorr to approaching theregulatory agency,” he “The most important thing for Matrixz is you can turn a seemingly awful situation into an opportunithy if you’re judged by the public as being part of the How swiftly do they execute that will demonstrate their concerhn for the public’s safety.” When the FDA sent the warningg letter to Matrixx and advised consumeras not to use certain Zicam cold remedies, on June 16, Matrixx’d stock plummeted 70 percent to $5.7u8 a share. It bounced up a bit to $6.1e a day later, but nowhere near its 52-weeki high of $19.
74, near its trading point beforwe the FDA sent thewarning letter. For the fiscal year ende d March 31, Matrixx reported $13.8 millionh in net income on $112 million in net sales, up from $10.4 million in net income on $101 millio n in net sales a year ago. Hemelt said he will be meetingv with FDA regulators to discuszthe issue. He also scheduled a conferencde callwith investors.