We have found same pill in son's room.
Has anyone identified it.
Is it Lyrica (Pregabalin) made by Perrigo?
I looked up the pill in my Drug ID Bible, and based on your discription I'd say it's acetaminophen 650 mg. The book described it as a red oblong tablet manufactured by the Perrigo company. The I 217 and 1217 weren't listed. I could be wrong, but that's what I found. I hope this helps. 
It is not Lyrica. There are no generic Lyrica tablets made at this time. Also, Perrigo only makes generic over the counter products. It is very likely that the above post is correct.
I don't think there is anything to worry about.
Hopefully this is the same pill but I have the same thing it is completly red it is a capsule and it has L217 written on it this is a generic 500 mg form of tylenol ( acetaminophen )
hopefully this has helped. :)
I found one too. I called my local CVS and they did not know what is was. Mine was a solid Red Oval Tablet, marked L217. After reading the blogs above, I do believe it is possibly Tylenol 500mg. I think it was left over from my surgery, so I gave it to the dog.
Just Kidding!!!!!! I flushed it!!!!
What is kind of scary, the parents above finding them in their kids room. Where did those come from and I have not seen or heard of one that was in capsule form. Keep us posted.
Incognito - You may be on to something, as the pharmacist said he thought it was possibly "over the counter" something too. So, now I am confused.
Is that I 217 L217 or 1217?