Advanced Medical Optics Inc.’s shares fell about 14% Tuesday on the market’s first reaction to word late Friday that the company was recalling its Complete MoisturePlus contact lens solution.
The company said Tuesday the voluntary recall wasn’t related to a manufacturing issue and that it stands behind its product.
Advanced Medical has a market value of about $2 billion.
The Santa Ana-based company blamed improper handling of contact lenses for an eye infection that forced the product to be pulled from the shelves.
“What we’re trying to handle right now is what the CDC hit us with,” Chief Executive James Mazzo said on a conference call.
Late Friday, Centers for Disease Control officials warned customers to throw away Complete MoisturePlus after an investigation linked it to acanthamoeba keratitis, a rare eye infection that can lead to permanent vision loss or blindness.
“It’s not a manufacturing problem or a contamination issue,” Mazzo said on the call.
The infection affects people who improperly handle their lenses, such as disinfecting them with water or wearing them while swimming or showering.
The voluntary recall after Advanced Medical said last week it was interested in buying rival Bausch & Lomb Inc. of Rochester, N.Y.
