Colgate-Palmolive slips after FDA posts warning letter sent to Tom’s

In a letter dated November 5 that the FDA posted to its site today, the Food and Drug Administration noted that it inspected Colgate-Palmolive’s (CL) drug manufacturing facility, Tom’s of Maine, in Sanford, Maine, from May 7 to 22 and summarized the “significant violations of Current Good Manufacturing Practice regulations for finished pharmaceuticals” that the agency found. In late morning trading following the posting of the warning letter, shares of Colgate-Palmolive are down $1.56, or nearly 2%, to $93.07.