Allergan, Medicis Shares Drop on Botox Probe
Regulators said they're reviewing the safety of Allergan's
The Food and Drug Administration said the most serious cases included hospitalizations and deaths and occurred mostly in children treated for cerebral palsy-associated limb spasticity, a use not approved in the United States. (See the on-air report at left.)
The FDA said its review applied to Allergan's Botox and Botox Cosmetic, and privately held Solstice Neurosciences' Myobloc.
After the announcement, Allergan shares fell more than 5 percent on the New York Stock Exchange
Shares of Medicis Pharmaceutical, which has been trying to win FDA approval for a Botox competitor called Reloxin, dropped about 5 percent as well.
- Reuters contributed to this report.