Chiron recalls MMR vaccine, revises 2005 earnings
Thu Mar 16, 2006 2:53 PM GMT
CHICAGO (Reuters) - Chiron Corp. on Thursday said it is recalling and
withdrawing its measles, mumps and rubella vaccine, MORUPAR, from Italian
and developing world markets because it may be associated with a higher rate
of adverse side effects than other such vaccines.
The adverse events on which the recall and withdrawal are based are within a
range of those commonly associated with vaccines, such as fever, allergic
reactions and swelling of the glands, Chiron said.
As a result of the recall and other adjustments, Chiron said it revised its
2005 net earnings per share to 94 cents from 97 cents per share.
The Emeryville, California-based biotechnology company said it has written
off about $6 million of MORUPAR inventory in 2005 as a result of the
withdrawal and has recorded about $1.7 million of product return reserves in
2005 in connection with expected returns of 2005 product sales from the
In 2005, Chiron's sales of the MORUPAR vaccine was about $10 million.
Chiron supplied about 5 million doses of the vaccine in 2005, providing most
of it to a limited number of developing countries and about 450,000 doses to
The recall and withdrawal of MORUPAR, which Chiron produces in Italy, does
not affect any of Chiron's other vaccines.
Chiron shares were off 22 cents to $45.48 on the Nasdaq in early trading.