Upset with the U.S. Food and Drug Administration, Zicam maker Matrixx Initiatives Inc. has withdrawn two of its cold remedy nasal products even though company officials maintain the products are safe. The FDA said it received more than 130 complaints from consumers saying they have lost their sense of smell after using the products.
Jennifer Warren, a former school teacher who lives in Huntsville, Ala., said she lost her sense of smell after using Zicam to prevent the duration of a cold a few years ago, but had never complained to the FDA or the company because she figured there was no way to prove Zicam caused her anosmia. She said she doesn’t want to sue Scottsdale-based Matrixx (Nasdaq:MTXX) even after learning others have had the same experiences.
William Hemelt, acting president and chief operating officer of Matrixx, said the FDA action was taken without reviewing research he would have been more than willing to provide. “We think the science does not support this allegation at all,” he said. “Quite honestly, we would not be selling the product if we thought it was unsafe.” When the FDA sent the warning letter to Matrixx and advised consumers not to use certain Zicam cold remedies, on June 16, Matrixx’s stock plummeted 70 percent to $5.78 a share. It bounced up a bit to $6.13 a day later, but nowhere near its 52-week high of $19.74, near its trading point before the FDA sent the warning letter.
Damn, and I just bought some on JCD’s recommendation.
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The letter, addressed to Trey Anastasio, Jon Fishman, Mike Gordon and Page McConnell, says the request is an attempt to gain empathy for fish, “because few people are aware that fish are actually smart animals with personalities.”
