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Walmart Inc (NYSE:WMT) And Walgreens Boots Alliance Inc (NASDAQ:WBA) To Pull Down Altaire Eye Drops From Shelves

Walmart Inc (NYSE:WMT) And Walgreens Boots Alliance Inc (NASDAQ:WBA) will have to remove eye drops manufactured by Altaire Pharmaceuticals Inc., from their shelves following a recall by the manufacturer.

A notice about Altare’s recall of its products was published on the Food and Drug Administration (FDA) website. The recall involved 23 different products that were manufactured by Altaire and they were recalled on the basis that they might not be sterile. The products affected by the recall are usually sold over the counter at Walmart and Walgreen stores.

The recall means that the affected eye drops might be hazardous for but fortunately, no cases of adverse effects on users have been reported. This means that although the recall is a significant setback for the company, a bigger crisis has been averted.

Some of Altaire’s products that have been affected by the recall include the Lubricant Eye Drops Moisturizing, Lubricant Eye Drops Moisturizing Twin Pack, Lubricant Eye Ointment PF Soothing, Sodium Chloride Ophthalmic Solution, and Sodium Chloride Ophthalmic Ointment among others.

Altaire eye drops removed from Walmart and Walgreens shelves to avoid endangering lives

The FDA noted that non-sterile products that are designed to be sterile may cause severe and in some cases even life-threatening infections if used. This is also the first time that Altaire products have been affected by a massive recall. Customers have been advised to contact the company in case they have any questions regarding the recalled products.

Meanwhile, the recall not only represents a big blow for Altaire but also for Walgreens and Walmart. This is because having products recalled reflects on the quality control measures that the two retail firms have been using although it can be argued that the producer has that responsibility. Nevertheless, the recall is also a good sign because it means that all the involved firms especially Altaire are willing to take responsibility by quickly acting on such matters.

Altaire has so far not released further details with regards to the affected products. It is also not clear whether the incident will affect its relationship with Walmart and Walgreens.

Published by Swati Goyal

Swati Goyal has over 6 years of experience in financial research & analysis domain. She has built financial models varying from consumer goods to banks. She has her articles published in leading dailies of the nation

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