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More Bad News for Breast Implant Company

Sientra's stock has slid more than 80% from highs of over $25 per share it hit this July and August. Now, the company has announced that a fire has hit one of its manufacturing facilities, operated by the Brazilian firm Silimed.

Qmed Staff

Fire
An amateur picture from Whatsapp shows the Silimed fire.

It's shaping up to be a rough year for Sientra (Goleta, CA). Sales of the company's products have been halted in the United States, Brazil, the United Kingdom, Australia, and other countries following an audit by a German notified body to its Brazilian contract manufacturer Silimed.

On September 24, the company's stock plummeted more than 52% in light of the potential contamination problems and the decision by UK regulatory authorities to halt sales there. This in turn triggered a shareholder lawsuit organized by several law firms nationwide.

Now, the company announces that one of the facilities used to make its products in Brazilian has been hit with a fire. The company did not reveal details of the fire and whether it caused injuries. In a statement, the firm acknowledged that it is aware of the fire, which affected one of Silimed's two manufacturing buildings and is working with Silimed "to assess the situation." "Our thoughts are with the entire Silimed team," it added.

The company's stock fell another 20.56% to $4.47 per share on October 23.

The Brazilian television station Rede Globo reported that the fire started around 6 p.m. local time on October 22. Huge flames and smoke plumes could be seen erupting from the facility in an amateur video posted on the Globo website. As of 9 p.m. on October 22, firefighters were still fighting the blaze.

Founded in 1978, Silimed also makes a variety of other silicone-based implants including gastric bypass surgery balloons, pectoral, calf, and other implants.

Learn more about cutting-edge medical devices at Minnesota Medtech Week, November 4-5 in Minneapolis.

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