BAD HOMBURG, Germany (AFP) - Fresenius Medical Care, the world's leading supplier of dialysis products and services, said that it had been subpoenaed by the US Justice Deparment in New York to provide a "broad range of documents" relating to its operations.
The news sent FMC's shares into a tailspin on the Frankfurt stock exchange. Shortly after trading opened on Wednesday, the shares tumbled to an intraday low of 57.44 euros, down 2.76 euros or 4.6 percent on the day.
The rest of the blue-chip DAX 30 index was in positive territory.
Prosecutors specifically wanted information about procedures for testing patients' parathyroid hormone (PTH) levels and about products associated with vitamin D therapies, FMC said in a statement.
FMC's North American units, Fresenius Medical Care Holdings und Spectra Renal Management, had received the subpoenas.
US rivals DaVita and Renal Care Group have also been ordered to produce documents related to the same issues.
Parathyroid hormones are produced by the parathyroid gland in response to low levels of calcium and -- along with vitamin D -- help maintain healthy bone structure. The hormone is routinely monitored in patients with chronic renal failure.
FMC said it would cooperate fully with the investigation and would "seek to meet with representatives of the government to discuss the issues addressed in the subpoena."
10/27/2004 - 08:15 GMT - AFP