Hi,
This is not necessarily true, and in fact it's more likely to be an illusion that anything else. Firstly there are quite a few wavelengths that qualify as red, 700nm being at the extreme end of the spectrum. Secondly, just as in a CRT television, which has only the three primary color guns, any given color can be simulated by a combination of the other primary colors or by a combination of the complimentary colors. This means that a plant can have various pigments that reflect green, blue, magenta and so forth such that we perceive the combinations of reflected wavelengths as red. In the same way, it is a fallacy to assume that green plants necessarily reflect only green just because they appear green to our eyes.
Additionally, it matters not what peaks are shown on the spectral characteristics of a bulb. These are often marketing cartoons which do not tell the story of the bulbs true output unless one interprets the cartoon properly. A single peak in any one wavelength is meaningless and it does not mean that the bulb outputs mostly in that wavelength. It only means that at a given wavelength the energy happens to be high, but in relation to the combined energy output it may be a very small fraction of the total spectral energy. Some bulb formulas do specifically suppress certain wavelengths however, this is not the general practice.
Cheers,