Zicam maker pulls products, but affirms safety - Silicon Valley / San Jose Business Journal:

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The FDA said it received more than 130 complaintsz from consumers saying they have lost their sensse of smell after usingthe products. Jennifer a former school teacher who livedsin Huntsville, Ala., said she lost her sensre of smell after using Zicam to prevent the duratiomn of a cold a few years ago, but had nevere complained to the FDA or the compan because she figured there was no way to provwe Zicam caused her anosmia. She said she doesn’t want to sue Scottsdale-basedd Matrixx (Nasdaq:MTXX) even after learningv others have had thesame experiences. “I don’f think Zicam was created to hurt she said.
“We sit here and we rip and we rave abourt all these drugs not being allowed on the The first time anything goes everybody wants togo sue, sue, sue. That drivesa me nuts. I honestlyg believe the people were trying to do something to help peopl notget sick.” William Hemelt, acting president and chiefg operating officer of Matrixx, said the FDA action was takenm without reviewing research he would have been more than willint to provide. “We think the sciencr does not support this allegation at he said. “Quite honestly, we woulxd not be selling the product if we thoughtg itwas unsafe.
” Zicam products use a homeopathic remedy calleed Zincum Gluconicum 2x, which means they require FDA Dr. Sam Benjamin, a medical doctor with a homeopathic saidhe can’t figure out why the FDA has takemn so long to deal with the issue. “Ij can think of no part of alternative medicinde that summons up more worry to conventional physicians than said Benjamin, who has a medicall talk show on KTAR 92.3 FM on Saturdays at 2 p.m. and 1,000o followers on Twitter. “There are so many drug around thatcause problems, why would one event want to expose peoplse to any danger.” Bretg Berty, a senior recall strategist at Stericycle Inc. in Lake Ill.
, is coming to Phoenix this week to meet with Matrix officials to see if he can help the company withdamagw control. Usually, he said, companies will voluntarily recalll a product before the FDAgets involved. That’ws not how it happened with The FDA stepped in and warned Matrixz that it had receivex more than 130 consumer complaints and that the company neededr to stop marketing the product until it can put a warning label on its packaginh that it couldcause anosmia. Over the past 10 Berty has worked with manufacturers to conductaboug 1,300 recalls, including Vioxx. “Typically, the manufacturer will work with me prior to approachinv theregulatory agency,” he said.
“The most important thingv for Matrixx is you can turn a seemingly awful situatiomn into an opportunityif you’re judgefd by the public as being part of the solution. How swiftl y do they execute that will demonstratse their concern forthe public’s safety.” When the FDA sent the warning letter to Matrixx and advised consumerss not to use certain Zicam cold remedies, on June 16, Matrixx’ss stock plummeted 70 percent to $5.789 a share. It bounced up a bit to $6.1e a day later, but nowhere near its 52-week high of near its trading point before the FDA sent thewarninv letter. For the fiscap year ended March 31, Matrixxd reported $13.
8 million in net income on $112 milliob in net sales, up from $10.4 milliomn in net income on $101 million in net sales a year ago. Hemelt said he will be meetint with FDA regulators to discussthe issue. He also scheduled a conferenced callwith investors.