Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Allergan, Inc.    AGN

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 

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.
11/27 PFIZER : High business taxes are hurting America
11/26 PFIZER : global tax avoidance
11/26 Two-decade Pfizer mission pays off for Guggenheim's deal king
11/26 PFIZER : contract marks the termination of U.S. capability to discontinue corpor..
11/25 PFIZER : Morgan Lewis Serves as Lead U.S. Antitrust Counsel to Pfizer in Blockbu..
11/25 ALLERGAN : New York declares victory in antitrust lawsuit against drug maker ove..
11/25 ALLERGAN : NY declares victory in Alzheimer's drug antitrust lawsuit
11/25 Pfizer forges pounds sterling 100bn Goliath
11/25 Asian stocks rise on expectations for Europe stimulus
11/25 PFIZER : Allergan merger is good for the US – if you're in the 1%
Income Statement Evolution
More Financials