UPDATE 1-Alere starts recall of cardiology test lots

Wed May 23, 2012 12:31pm EDT

* Says recall covers 104 lots of Triage cardiology products

* Says to have limited stock of Triage heart tests for unknown time

* Shares fall as much as 4 percent

May 23 (Reuters) - Diagnostic device maker Alere Inc said it started a recall of about 104 lots of its Triage cardiology products as they do not satisfy a particular quality control method as prescribed by U.S. health regulators, sending its shares down as much as 4 percent.

The company earlier this month warned of a need to recall after the U.S. Food and Drug Administration inspected its San Diego facility in March and questioned labeling and quality control method of its Triage products.

Alere expects to have limited inventory of its Triage cardiology panels for an unknown duration of time, but said it was "significantly increasing production" and sees a related increase in manufacturing costs from the second quarter of 2012.

The recall covers unexpired lots of Alere Triage cardiology products sold in the United States, but allows customers who do not have an alternate testing method to continue using these lots.

Alere shares, which have lost 19 percent of their value since the company warned of the recall, were trading down 3 percent at $18.12 on Wednesday on the New York Stock Exchange.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.