Is "C" better than Premarin?
American Home Recalling Some Premarin Lots
By Dane Hamilton
Staff Reporter
10/27/00 3:45 PM ET
Another day, another pitfall at American Home (AHP:NYSE - news).
The Madison, N.J., drugmaker was forced to recall some 50 lots of its top-selling drug Premarin in the last two weeks after the company found some of the pills didn't disolve properly.
Premarin, a widely used hormone replacement therapy for post-menopausal women, is by far American Home's top seller, generating $1.77 billion in 1999 sales. Some 10 million American women currently use Premarin, a cornerstone of American Home's drug division for years. American Home reported 1999 drug sales of $9.5 billion.
American Home said no recalled pills ended up in retail pharmacies or patients, but were recalled from wholesalers this month. The recall was voluntary in consultation with the Food and Drug Administration, it said.
American Home shares were recently trading down $1.56, or 2.4%, at $61.94. Despite the recent setbacks at the drug company, including three failed mergers and a notable product recall, American Home stock has rallied this year, outperforming the drug-stock index and posting a 60%-plus gain. |
