BREAKING: Matrixx Had 800+ Reports of Zicam Side Effects
June 18, 2009 at 3:57 pm EST | Tags: CEOs & Management, Collapses & Setbacks, Drugs, FDA, Zicam
Presented by PharmaVendor
Zicam-maker/seller Matrixx Initiatives (MTXX) said it had about 800 complaints about side effects that it never reported to the FDA.
MDXX held a conference call this morning (which you can listen to right here) and said that the agency found 800 reports of consumer concerns in May during a routine inspection, but were told by lawyers that a 2007 regulation requiring companies to turn over reports of serious side effects didn’t apply to the complaints received by MDXX.
MDXX COO William Hemelt said this:
“We have complaints but we weren’t required to send them. At least we didn’t believe we were required to send them and we based that on an opinion of counsel who looked at the FDA regulation and said no, it doesn’t fit.”
MDXX stock has plummeted by 70% the last few days and they’re fuming. We’ll tell their side later…
Anonymous Tip? Comments? Contact us: hr AT iguanabio DOT com
![[Loading...]](http://www.iguanabio.com/wp-content/themes/IguanaBio/images/ajax-loader.gif){kind=small}
