NEW YORK — Shares of human tissue reprocessors have reversed a noticeable dive in the five months since allegations arose that one of their suppliers stole body parts from coffins, but the stocks have yet to return to pre-October levels, even as charges are filed against the supplier.
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The first of the companies to issue a recall of tissue products was LifeCell Corp. of Branchburg, N.J. Lifecell recalled products made from human tissue obtained from the supplier on Sept. 30 after a doctor the company hires to screen tissue noticed discrepancies in paperwork from Biomedical Tissue. The recall was made public Oct. 7.
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However, the extent of the recall can be seen in financial filings for the quarter. LifeCell took a $1.4 million charge in the third quarter for inventory affected by the recall. The company booked $24.5 million in revenue in the third quarter. Lifecell added that Biomedical Tissue was only one of out about 40 tissue suppliers it used.
Here's the kicker:
FDA spokesman Stephen King said the agency ensured all unused product had been returned after the voluntary recalls started. King said the agency and the Centers for Disease Control and Prevention determined the risk of the suspect parts communicating disease to patients is considered very low, but still unknown. The FDA is unable to comment on details of the investigation as it is still ongoing, but King said the agency is working with all affected parties, as well as all state and local officials involved.
I didn't know Mr. King was moonlighting as both an Entertainment Weekly columnist AND an FDA spokesman. King's nothing if not prolific.
And here's the good news to calm the shivers:
Shares of Lifecell have recovered the most. The company's stock closed at $21.63 on Sept. 30, then dropped 11 percent to close Oct. 7 at $17.75, hitting a low that day of $15.11. Lifecell shares close at $21.20 Friday on the Nasdaq, down 56 cents, or 2.6 percent for the day's session and down only 2 percent since announcing the recall.
2 comments:
If a wrinkle cream claims it can make your wrinkles vanish in 60 seconds, would you believe it? No doubt you'd want to, but is such a thing really possible? The makers of LifeCell skin cream say it is.
Revitaderm Cream
LifeCell is the best anti-aging skin cream I have ever seen and used. This skin care product delivers what the manufacturers promise. The wrinkles on the face simply disappear. They cannot be seen by others. It is not only my experience, but also that of my friends. The wrinkles and age spots are not visible when we use LifeCell.
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