Avaira Toric Contact Lens Recall

Avaira Toric, CooperVision will recall more lots of its Avaira contact lenses due to the presence of toric 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 contact lenses 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 eyepain associated with the use of the lenses.

Pleasanton, California-based Cooper said none of its otherproduct 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.

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