Key Points
This is three months after the company recalled over 96,000 bottles of liothyronine sodium tablets from the US market..
In FY23, 30 companies undertook voluntary product recalls, while 16 were forced to recall their products, shows data sourced from Prime Database..
While the voluntary recalls have been cautionary in nature, the reasons for forced product recalls range from improper functioning, damage in transit, quality issue, to leakages, product contamination and product being out of specification..
Sun Pharma, the company with the highest number of voluntary recalls in FY23, has in its annual report stated "the reasons for recall were primarily found to be leakage and out of specification results for various tests"...
The total number of recall events in the US reached a five-year high in 2023 according to Sedgwick's 2024 state of the nation recall index report with around 3,300 recalls reported across the automotive, consumer products, food and drink, medical device and pharma industries...
