Novartis Recalls OTC Cough Syrups

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On Thursday, the U.S. Consumer Product Safety Commission announced a recall of Triaminic and Theraflu Warming Relief cold and flu medicines, saying the child-resistant caps on the bottles containing the medicines "can fail to function properly and enable the cap to be removed by a child with the tamper-evident seal in place, posing a risk of unintentional ingestion and poisoning."

Both products are manufactured by Novartis' (NYSE: NVS  )  Consumer Healthcare division.

In a separate statement, Novartis announced a voluntary recall of multiple Triaminic and Theraflu products, clarifying that the recall extends to products manufactured in the U.S. before Dec. 31, 2011. A full list of the specific-named products, their UPC codes, and their lot numbers can be found here.

News reports put the size of the recall at 2.3 million units and clarify that at least four instances in which children opened the bottles and ingested the medicines are known to have occurred.

News of the recall had little effect on Novartis' stock price, however, with the shares rising 0.3% in Friday trading to close at $68.00.

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9/28/2016 4:02 PM
NVS $81.22 Up +0.34 +0.00%
Novartis CAPS Rating: ****