DALLAS, Sept. 17, 2009 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring pharmaceutical company Matrixx Initiatives Inc. (Nasdaq:MTXX). The report includes financial and investment analysis, analyst consensus, and pertinent industry information you need to know to make an educated investment decision.
The investment report on Matrixx Initiatives Inc. (Nasdaq:MTXX) should be of particular interest to other pharmaceutical companies: Cornerstone Therapeutics Inc. (Nasdaq:CRTX), Mylan Inc. (Nasdaq:MYL), Prestige Brands Holdings Inc. (NYSE:PBH) and Schering-Plough Corp. (NYSE:SGP).
It is available at: http://www.stockpreacher.com/n/MTXX
Matrixx Initiatives Inc. (MTXX), through its subsidiaries, engages in the development, production, marketing and sale of over-the-counter (OTC) healthcare products that utilize innovative drug delivery systems. It offers Zicam Cold Remedy Chewables, Zicam Cold Remedy RapidMelts, Zicam Cold Remedy Oral Mist, Zicam Cold Remedy RapidMelts + Vitamin C, and Zicam Cold Remedy RapidMelts + Vitamin C and Echinacea, which are oral cold remedy products that deliver a dose of ionic zinc to the oral mucosa.
In the report, the analyst notes:
"On June 16, the Company received a Warning Letter from the FDA stating that three of the Company's over-the-counter products -- Zicam Cold Remedy Nasal Gel, Gel Swabs and Kids Size swabs -- could cause 'long-lasting or permanent' loss of smell. The FDA has received more than 130 reports of people losing their sense of smell after using zinc- based Zicam nasal spray and swabs. Although the Company disagrees with the FDA's allegations, the Company announced it would cooperate with the FDA and immediately suspended shipments of these two products upon receipt of the FDA's warning letter and then announced a voluntary nationwide withdrawal of Zicam Cold Remedy Nasal Gel and Zicam Cold Remedy Gel Swabs that same day.
"Due to the impact and publicity of the FDA Warning Letter and the recall of Cold Remedy Nasal Gel and Cold Remedy Swabs, the Company performed an impairment assessment as of June 30, 2009, that resulted in the Company recording impairment charges in that quarter to reduce the carrying amount of goodwill and other tangible and intangible assets..."
To read the entire report visit: http://www.stockpreacher.com/n/MTXX
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