November 15, 2011 / 6:06 PM / 6 years ago

UPDATE 1-Cooper recalls more contact lenses

* To recall limited lots of Avaira Sphere lenses

* To record charge of $9 mln in Q4

* Shares down 17 percent

Nov 15 (Reuters) - Cooper Cos said its unit CooperVision would recall more lots of its Avaira contact lenses due to the presence of oil residue and record a charge of $9 million in the fourth quarter, sending its shares down 17 percent.

CooperVision said it plans to replace the recalled Avaira Sphere with available inventory.

In October, the company said it was working with U.S. regulators to complete a recall of about 600,000 Avaira Toric contact lenses, saying it received new complaints of severe eye pain associated with the use of the lenses.

Pleasanton, California-based Cooper said none of its other product lines used silicone oil in the manufacturing process.

Cooper shares were trading down 16 percent at $54.75 in afternoon trading on the New York Stock Exchange. They fell to $53.83 earlier in the day.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below