Allergan Tumbles After Misplacing Placebos In Birth Control Package
Allergan (AGN) toppled Tuesday after it voluntarily recalled a batch of birth control pills in which four placebo pills were incorrectly placed out of order.
On the stock market today, Allergan fell 1.9%, to close at 151.03, after earlier dipping as much as 2.8%. The stock was among the biggest losers among pharmaceutical companies, which collectively fell 0.9%.
The birth control pills package, called Taytulla, placed four placebo capsules as the first four days of therapy. In most packages, those first four pills would have been active contraceptives.
“The reversing of the order may not be apparent to either new users or previous users of the product, increasing the likelihood of taking the capsules out of order,” Allergan said in a news release. Capsules taken out of order can result in unintended pregnancy.
Allergan notified customers with a recall letter for that batch of birth control pills.