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Summary
- Sunscreen products by Johnson & Johnson were recalled by Walmart, CVS Health, and Walgreens Boots Alliance.
- J&J announced that some samples of the product had cancer-causing chemicals.
- UK supermarkets like Tesco, Sainsbury, Morrison and Marks & Spencer have also recalled products recently.
Sunscreen products by Johnson & Johnson (LON:0R34) have been recalled by pharmacy chains like Walmart Inc (WMT.N), CVS Health (CVS.N), and Walgreens Boots Alliance (WBA.O) after J&J announced that some samples of the product had cancer-causing chemicals.
All lots of five AVEENO® and NEUTROGENA® aerosol sunscreens were recalled by the company. Internal testing found that some samples contained benzene in low quantities. US Food and Drug Administration (FDA) said that consumers withdraw from using the affected products.
Online pharmacy Valisure had a few months back filed a petition with US FDA after it found that more than a dozen sun protection products had higher than recommended levels of benzene. Benzene has the potential to cause cancer depending on the extent of exposure and the level used.
In UK OPSS (Office for Product Safety and Standards), along with other market surveillance authorities like Local Authority Trading Standards, looks after regulating product safety. Recently, there have been many instances of product recall from various companies. Here are 4 FTSE listed companies that have recalled products recently:
Marks & Spencer (LON: MKS)
The British multinational retailer recalled its M&S Balanced For You Red Thai Chicken Curry after it was found that the product contained milk, but that was not disclosed on the label. A packaging error resulted in Red Thai Chicken Curry being wrongly packed with another product, Aromatic Lamb Curry, containing milk.
Red Thai Chicken Curry would be a health hazard for consumers who have milk intolerance or are allergic to milk or its constituents.
Marks & Spencer shares have a one-year return of 38.83 per cent and a market capitalisation of £2,691.95 million. They have a price-to-earnings ratio of 98.21 and a dividend yield of 2.84 per cent.
Sainsbury Plc (LON: SBRY)
The supermarket chain issued an urgent recall of a batch of veg lasagne after it was found that it contained pork, milk, and beef. The chain issued an allergen alert on Love Your Veg’s Butternut Squash & Lentil Lasagne that the ready-to-eat meal range contained milk. It would be a health risk for those with milk insensitivity, Food Standards Agency said.
The company said that the product was made with the wrong filling. The product was packaged with the supermarket’s Bolognese Melt, containing pork and beef, instead of tomato and lentil ragu which is vegan friendly.
Sainsbury Plc shares have a one-year return of 45.85 per cent. The shares have a market capitalisation of £6,337.67 million, price-to-earnings ratio of 24.33, and a dividend yield of 3.72 per cent.
Tesco Plc (LON: TSCO)
The British multinational general merchandise and groceries retailer had to recall tzatziki, its own brand, as it contained eggs which was not disclosed on the label. It would have been a health risk for those allergic to or having an intolerance of eggs. A packaging error led to some packs having chive dip and sour cream instead.
The recall was applicable to the 200 grams packs that had an expiry date of 12 April 2021. They were priced at £1.10 at Tesco.
Tesco shares have a one-year return of 8.65 per cent and a market capitalisation of £18,011.01 million. The stocks carry a dividend yield of 4.29 per cent and a price-to-earnings ratio of 19.51.
Morrison Supermarkets Plc (LON: MRW)
The supermarkets chain recalled in-house brand choco cereal following panic that the product contained plastic pieces. Plastic pieces made the product unsafe for consumption and also had the potential to choke children. The recall was applicable to Morrisons Choco Crackles 375grams package. The affected products had an expiry date till November 2021 and were sold at 79p a pack.
Morrison’s shares have a one-year return of 43.11 per cent with a market capitalisation of £6,346.89 million. They have a price-to-earnings ratio of 44.13 and a dividend yield of 2.72 per cent.
