* To recall limited lots of Avaira Sphere lenses
* To record charge of $9 mln in Q4
* Shares down 17 percent
Nov 15 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
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.