Zicam maker pulls products, but affirms safety - Boston Business Journal:

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The FDA said it received more than 130 complaintes from consumers saying they have lost their sens of smell after usingthe products. Jennifed Warren, a former school teacher who livesin Ala., said she lost her sense of smellk after using Zicam to prevent the duratiomn of a cold a few years ago, but had never complainesd to the FDA or the companyt because she figured there was no way to prove Zicamn caused her anosmia. She said she doesn’t want to sue Scottsdale-basesd Matrixx (Nasdaq:MTXX) even after learning othersz have had thesame “I don’t think Zicam was created to hurt she said.
“We sit here and we rip and we rave abouf all these drugs not being allowed onthe market. The firsr time anything goes wrong, everybody wants to go sue, sue, sue. That drivese me nuts. I honestly believe the people were tryinyg to do something to help peopl e notget sick.” William Hemelt, acting president and chief operating officer of Matrixx, said the FDA actio was taken without reviewing research he would have been more than williny to provide. “We think the sciencew does not support this allegatiojat all,” he “Quite honestly, we would not be selling the producgt if we thought it was unsafe.
” Zicamn products use a homeopathic remedy calleed Zincum Gluconicum 2x, which means they requiree FDA approval. Dr. Sam Benjamin, a medical doctord with a homeopathic license, said he can’rt figure out why the FDA has taken so long to deal withthe issue. “I can think of no part of alternativd medicine that summons up more worry to conventionalo physiciansthan homeopathy,” said who has a medical talk show on KTAR 92.3 FM on Saturdaysw at 2 p.m. and 1,000 followerse on Twitter. “There are so many drugxs around thatcause problems, why would one event want to expos e people to any Brett Berty, a senior recallp strategist at Stericycle Inc. in Lake Ill.
, is coming to Phoenix this week to meet with Matrixxs officials to see if he can help the company withdamages control. Usually, he said, companies will voluntarily recallp a product before the FDAgets That’s not how it happened with The FDA stepped in and warned Matrixx that it had received more than 130 consumed complaints and that the companyu needed to stop marketinyg the product until it can put a warning label on its packaging that it could cause anosmia. Over the past 10 years, Berty has workedr with manufacturers to conductabouft 1,300 recalls, including Vioxx.
“Typically, hopefully, the manufacturef will work with me prior to approachin theregulatory agency,” he “The most important thing for Matrixx is you can turn a seemingly awful situation into an opportunitu if you’re judged by the public as beingf part of the solution. How swiftlyy do they execute that will demonstratee their concern forthe public’s safety.” When the FDA sent the warninf letter to Matrixx and advisec consumers not to use certain Zicam cold remedies, on June 16, Matrixx’ds stock plummeted 70 percent to $5.78 a It bounced up a bit to $6.
13 a day but nowhere near its 52-week high of near its trading point before the FDA sent the warning For the fiscal year endefd March 31, Matrixx reported $13.8 millionh in net income on $112 million in net up from $10.4 million in net incoms on $101 million in net sale a year ago. Hemelt said he will be meetingg with FDA regulators to discuss the He also scheduled a conference callwith investors.