Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Allergan, Inc.    AGN   US0184901025

ALLERGAN, INC. (AGN)

44
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Allergan, Inc. : Allergan Gets Subpoena From Government Over Lap-Band System

05/07/2012 | 06:11pm US/Eastern
   By Anjali Athavaley 
   Of  
 

Allergan Inc. (AGN) received a subpoena this month from the Department of Health and Human Services requesting documents related to the company's Lap-Band System for obesity, according to a filing.

Lap-Band is approved to help obese patients lose weight. It is inserted surgically through a small incision and placed at the top of the stomach. The inflatable band can be tightened or loosened to reduce or enlarge stomach capacity.

An Allergan spokeswoman declined to comment further.

Earlier this month, Allergan said its first-quarter earnings rose 45% on double-digit sales growth in its specialty-pharmaceuticals business. But sales in Allergan's obesity intervention category slipped 15.5% as high unemployment, lofty co-payments and rigid requirements from insurers pressured sales.

Last December, the U.S. Food and Drug Administration warned nine groups, mostly surgical centers in California, that if they continue misleading advertising for Lap-Band, they could face monetary penalties and have inventory seized. The FDA made no allegations against Allergan at the time.

Allergan shares were up fractionally to $93.79 in after-hours trading Monday. The stock is up nearly 7% so far this year.

-By Anjali Athavaley, Dow Jones Newswires; 212-416-4912; anjali.athavaley@dowjones.com

React to this article
Latest news on ALLERGAN, INC.
2d ago ALLERGAN : Patent Issued for Hypotensive Lipid and Timolol Compositions and Meth..
2d ago ALLERGAN : Patent Issued for Instrument and Method for Diagnosing Dry Eye in a P..
2d ago ALLERGAN : COTCHETT, PITRE & McCARTHY, LLP : Files Class Action Lawsuit on Behal..
2d ago ALLERGAN : Deadline in Lawsuit for Certain Sellers of Allergan, Inc. (AGN) Share..
2d ago ALLERGAN : BOTTINI & BOTTINI, INC. Files Class Action Lawsuit On Behalf Of Perso..
2d ago ALLERGAN : Pharma Equities Technical Analysis -- GlaxoSmithKline, Bristol-Myers ..
3d agoDJU.S. HOT STOCKS : Hot Stocks to Watch
3d agoDJActavis CEO to Remain After Allergan Merger
3d ago ALLERGAN : Arbor Pharmaceuticals Updates on Wilshire Lastacaft Patent Challenge
4d agoDJBrent Saunders faces challenge of running combined Actavis-Allergan
Advertisement
Chart
Duration : Period :
Allergan, Inc. Technical Analysis Chart | AGN | US0184901025 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF