FDA warns Zicam Cold Remedy can damage sense of smell

Providing yet more evidence that the Food and Drug Administration needs to get better control of certain parts of the market, it took about ten years to issue a warning about Matrixx Initiatives, Inc.'s (MTXX) Zicam Cold Remedy. The cold nasal gel and swabs can permanently damage the sense of smell, the FDA now warns.

Losing the sense of smell is more dangerous than it may sound, as "People without the sense of smell may not be able to detect life dangerous situations, such as gas leaks or something burning in the house," Dr. Charles Lee told the AP.