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Allergan, Medicis Shares Drop on Botox Probe

CNBC.com with Wires
Friday, 8 Feb 2008 | 12:27 PM ET

Regulators said they're reviewing the safety of Allergan'sBotox and a competing product after reports of deaths and serious reactions in some patients, knocking down shares of the pharmaceutical company and a would-be competitor.

Botox Safety Review
The FDA reports some potential dangers from the popular "Botox" treatment, reports CNBC's Mike Huckman

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.

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