Zicam recall unofficial
Rumors of a Zicam recall are circulating rapidly, since the FDA issued a warning today about Zicam. There have been enough reports of anosmia (total loss of sense of smell) and hyposmia (partial smell loss) that the FDA is now warning consumers not to use or to stop using Zicam Cold Remedy nasal gel.
Defective Drugs reports:
Because Zicam Cold Remedy is a homeopathic treatment, the FDA is limited in its capacity to regulate it, making a forced Zicam recall unlikely. However, because of product liability laws, if it is proven that Zicam harmed enough people, the product could be taken off the market even without an FDA enforced Zicam recall.
The people who make Zicam better get some fast loans to cover lawyers quickly; they’re in for a slew of lawsuits.
Zicam recall: the finacial effect
A lot of people stand to gain or lose from this unofficial Zicam recall. Already, Matrixx Initiatives, the company that manufactures Zicam, has seen its stock plummet 55 percent.
So, stockholders and the company have lost money already. The company stands to lose even more money through lawsuits, regardless of whether the FDA issues an official Zicam recall or not.
Some could make money off of Zicam recall
Of course, if Matrixx Initiative stands to lose money on lawsuits, that means people who have used Zicam and experienced the adverse effects stand to make money.
Defective Drugs says:
“A number of lawsuits have already been filed in an attempt to create a Zicam recall and to recover funds owed to persons harmed by the cold remedy. If you or someone you know has suffered anosmia or hyposmia as the result of using Zicam, and would like to help make a Zicam recall happen, contact an attorney who is already working towards the creation of a Zicam recall.”
Options for Matrixx
Word has spread far and wide enough of the FDA warning that the company will lose a lot of money, whether the FDA issues an official Zicam recall or not. Matrixx Initiatives now has the option of pulling the product off of shelves itself.
At the very least, I expect that the company will stop producing more Zicam, as it will likely be very difficult to sell from this point on. Defective Drugs says:
If Matrixx Initiative, the company responsible for manufacturing and distributing Zicam, feels that they are likely to lose a great deal of money through litigation involving persons harmed by the remedy, they may issue a voluntary Zicam recall.
How widespread is the problem
I have read reports articles today that said the FDA received 130 reports of people losing all or part of their sense of smell because of Zicam. It’s unknown whether this is a permanent condition or not.
A few reports trickled in from people who said they lost their sense of taste, and a few said they experienced extreme burning in their nasal passages after using Zicam. So, if you’re waiting for an FDA Zicam recall before you stop using Zicam, consider yourself warned.
