Allergan Inc. (AGN) Receives U.S. Subpoena Over Weight Loss Device
5/8/2012 7:57:49 AM
Allergan Inc. (AGN) (AGN), the maker of the wrinkle treatment Botox, received a U.S. government subpoena over its gastric banding device for obesity. Allergan received the subpoena from the Department of Health and Human Services’s Inspector General this month, the company reported today in a filing. Bonnie Jacobs, a spokeswoman for Irvine, California-based Allergan, acknowledged the subpoena but declined to comment further. Allergan generated $203.1 million of its $5.42 billion revenue (AGN) last year from devices for obesity. The company acquired the product, called Lap-Band, in 2006 with its purchase of Inamed Corp. The adjustable silicon band helps people lose weight by reducing the amount of food their stomachs can hold.
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