I had heard through a co-worker years ago that Zicam did this although I've never been interested in using it. A search, at that time, revealed lots of anecdotal evidence on the internet confirming exactly that.
It's nice the FDA only took 10 years to protect consumers...
"The FDA says about 130 consumers have reported a loss of smell after using Zicam products since 1999."
Thankfully only 130 people are impacted, but this is precisely why we do not want the government in charge of health care. This is drug that whose risks never outweighed the reward yet stayed on the market for 10 years while a government agency (FDA) failed to protect consumers.