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Cochlear Product Recall Costs May Exceed A$35 Million, UBS Says

Oct. 4 (Bloomberg) -- Cochlear Ltd.’s cost of voluntarily recalling its Nucleus 5 range of hearing devices because of a manufacturing glitch may exceed A$35 million, UBS said.

It’s too early to predict the product’s return to market and six months remains the “minimum estimate,” UBS Sydney-based health-care analysts Andrew Goodsall and Dan Hurren said in a report today in which they reiterated a “sell” rating on the shares.

Link to Company News:{COH AU <Equity> CN <GO>}

To contact the editor responsible for this story: Jason Gale at j.gale@bloomberg.net

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