Valeant's Bausch + Lomb recalls more than 1M bottles of eye med


Interim Valeant CEO Howard Schiller

Valeant's ($VRX) Bausch + Lomb has voluntarily initiated a massive recall of an eye dilation med after learning that more than 1 million bottles may have been shipped with the wrong medication insert.

According to the most recent FDA Enforcement report, the company is recalling 23 lots of Tropicamide Ophthalmic Solution USP, 1% including 416,441 bottles in a 2-mL size and 674,177 bottles in a 15-mL size. The company said the package inserts may be missing updates. The notice indicates the products came from the company's facility in Tampa, FL.

The recall comes even as Bausch + Lomb parent Valeant is in a world of hurt. The company tapped former CFO Howard Schiller to fill in as CEO after embattled leader J. Michael Pearson took to the sickbed with pneumonia. Pearson's departure comes as the company has taken a number of steps to deal with payer and congressional blowback over its practice of taking massive drug price hikes on newly acquired meds. The controversy has led its share price to crater.

Bausch + Lomb's recalls seem to come in large amounts. Two years ago it recalled 880,000 tubes of an eye ointment that was affected when it was shipped during a severe winter storm.