Rache Pharmaceuticals Stock Drops by 1 Percent in After Hours Amid FDA’s ‘Viral’ Alert
Rache pharmaceuticals is down by 1 percent after the company announced on Friday that it was recalling its “Viral” product due to a “high potential for respiratory irritation and bronchospasm” and has notified patients it is halting sales of the inhaler.
“We are taking this step to minimize the potential impact of this recall,” the company said in a statement.
“Rache is committed to making the most of our time available to the company to help it address this issue as quickly as possible.”
The company said that it will suspend all sales and distribution of the device until it can be tested by the FDA.
Rache shares closed at $23.90, down by nearly 50 cents.
The company had previously said that the inhalers could cause respiratory irritation.
“If a customer experiences symptoms of bronchitis or is experiencing respiratory distress due to the aerosol inhaler, they should contact their physician immediately,” the statement read.
The device has been around for about 10 years, but Rache said the company had only been in business since last year.
“This is a very rare situation that requires an extensive testing program, and we are notifying the consumer about the recall as we seek to resolve the issue as soon as possible,” the release read.
Raches CEO and president, Jeff Lantz, said in the statement that the company has made significant changes to the inhalators manufacturing process and has been conducting extensive testing of the new products to ensure they are safe.
“At this time, we are also conducting an extensive evaluation of all other existing Rache inhaler products,” he said.
Rache, founded by Rache Pharma founder and CEO Robert Lantz and acquired by Pfizer in 2014, said it had been notified of the recall by the Food and Drug Administration (FDA) of its inhaler product “Virid.” “
Our primary focus right now is on addressing the problem and ensuring all of our customers have access to the products they have purchased and have all of the information they need to make informed choices on their own.”
Rache, founded by Rache Pharma founder and CEO Robert Lantz and acquired by Pfizer in 2014, said it had been notified of the recall by the Food and Drug Administration (FDA) of its inhaler product “Virid.”
It is being recalled in a variety of states due to “an unusually high number of reported respiratory symptoms,” the FDA said.
The product has been available since December of last year and was supposed to be sold at a discounted price of $299.99, but it had an “unusual” amount of sales, the FDA wrote.
According to the FDA, the recall is a precautionary measure and does not constitute a public health risk.
The FDA wrote that the agency has not determined the extent of the respiratory symptoms.
The inhalers have a “very high potential for bacterial contamination” and the company is not aware of any deaths or serious illnesses linked to the product, the agency wrote.