Sanofi (SAN.FR) announced Friday a recall of over-the-counter heartburn medication Zantac in the U.S. and Canada, because of possible contamination with N-nitrosodimethylamine (NDMA), which is believed to cause cancer. The U.S.-listed stock fell 0.9% in morning trading. Sanofi said it was working with health authorities to determine the level and extent of the recall. The recall comes less nearly three weeks after CVS Health Corp. (CVS), Walgreens Boots Alliance Inc. (WBA) and Rite Aid Corp. (RAD) said they were pulling Zantac from their drugstores' shelves ( ) following a Food and Drug Administration warning that the the product could contain low levels of NDMA. "Evaluations are ongoing on both drug substance (active ingredient) and finished drug product," Sanofi said Friday in a statement. "Due to inconsistencies in preliminary test results of the active ingredient used in the U.S. and Canadian products, Sanofi has made the decision to conduct the voluntary recall in the U.S. and Canada as the investigation continues." Sanofi's shares have gained 6.2% year to date, while the SPDR S&P Pharmaceuticals ETF (XPH) has gained 2.0% and the S&P 500 has climbed 19.5%
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
October 18, 2019 11:21 ET (15:21 GMT)
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