GNC Holdings Inc., the chain of health and wellness stores, plummeted as much as 21 percent after Oregon sued the Pittsburgh company, claiming it sells supplements with illegal ingredients.
Ellen Rosenblum, the state’s attorney general, said today the company’s nutritional and dietary supplements are laced with unapproved drugs. One is picamilon, a Russian prescription medicine for neurological conditions, and the other is BMPEA, which was first synthesized in the 1930s as a replacement for amphetamines and never studied in humans, according to the state’s complaint.
“It is scary to know that certain products sold by GNC contain an ingredient that is not even labeled — let alone approved in the U.S.,” Ms. Rosenblum said in a statement. “When Oregonians buy a dietary supplement, they deserve to know that the ingredients in the products are safe and comply with the law.”
Trading in GNC was briefly halted on news of the lawsuit, and the stock tumbled as low as $31.94 in New York. Shares fell 15 percent to $34.19 at 3:14 p.m. in New York trading.
The case is State of Oregon v. General Nutrition Corp., 15CV28591, Circuit Court of the State of Oregon, Multnomah County
http://www.post-gazette.com/business/healthcare-business/2015/10/22/GNC-shares-fall-after-Oregon-sues-over-supplement-ingredients/stories/201510220195
