I think this should be true to the extent that a reasonable level of research and testing would've found the product to have such side effects. There is a certain point at which holding companies responsible for black swan effects may be counter productive from an innovation or general developmental sense
Note: Based on the word "consumption" I am assuming it means either edible products (food or drink) or Medication.
As far as food that are commercially produced, they have strict guidelines they must follow. The consumer needs to educate themselves on side effect of various foods. For instance, if you eat a lot of fatty foods, don't put the blame on McDonald's when you have a stroke.
As far as medicines, they too have strict guidelines that they must follow. Over the counter medications must already post on their label or reading material supplied of any known side effects. If you don't read the material, that is not their fault. With prescribed medications, your doctor is suppose to either tell about or provide literature for hazards associated with the medication. If the product is prepackaged, it too would have this information either on the label or in the box. In the case of filled or refilled medications, your doctor and/or pharmacist can/does provide this information.
Could food and medicine have side effects that are unknown to the company that makes them? Sure, but as long as they are doing any required testing for their product, it's not their fault.