Matrixx

In 1999, Dr. Alan Hirsch, neurological director of the Smell & Taste Treatment and Research Foundation, Ltd., called Matrixx's customer service line after discovering a possible link between Zicam nasal gel and a loss of smell in a cluster of his patients.

Forbes.com: News Bill Singer 2011

Last month, the court considered a case brought by investors in Matrixx Initiatives Inc. They alleged the company failed to disclose material information by neglecting to reveal it had received reports an over-the-counter medicine, Zicam Cold Remedy, caused a loss of sense of smell.

Making a Stat Less Significant Carl Bialik 2011

Matrixx countered that the case should be dismissed because investors had not alleged that the company received and withheld "statistically significant evidence" that Zicam caused a loss of smell.

Court sides with investors on disclosing drug reactions 2011

"This is not a case about a handful of anecdotal reports, as Matrixx suggests," Sotomayor wrote.

Court sides with investors on disclosing drug reactions 2011

The report said more than a dozen patients had suffered from anosmia after using Zicam and that four lawsuits had been filed against Matrixx.

Court sides with investors on disclosing drug reactions 2011

A Matrixx spokesman didn't return calls seeking comment.

Making a Stat Less Significant Carl Bialik 2011

Last week, the Court rejected that argument, ruling unanimously that the case against Matrixx pending in a lower court could proceed.

Making a Stat Less Significant Carl Bialik 2011

Matrixx received information that plausibly indicated a reliable causal link between Zicam and anosmia.

Court sides with investors on disclosing drug reactions 2011

Erik Olson , a partner with law firm Morrison & Foerster in San Francisco who filed a brief supporting Matrixx on behalf of BayBio, a California biotechnology industry group, says the high court's ruling risks leaving companies without a clear benchmark for deciding when they need to disclose adverse events.

Making a Stat Less Significant Carl Bialik 2011

A group of investors sued Matrixx for a "material" misrepresentation and omission under federal securities law because the company did not publicly report that medical researchers in the early 2000s had traced Zicam to the loss of smell, known as anosmia, and that related lawsuits against the company had been filed.

Court sides with investors on disclosing drug reactions 2011