Cholesterol fallout slams Schering, Merck shares |
| Reuters - Apr 1, 2008 |
Shares of Schering-Plough Corp and Merck & Co tumbled on Monday to multi-year lows on fears new recommendations critical of the companies' cholesterol drugs would cripple their sales.
Schering-Plough shares were off almost 26 percent while Merck shares fell about 15 percent after a panel of doctors at a prominent medical meeting urged patients to try older cholesterol drugs before Vytorin and Zetia, which the U.S. companies sell in a joint venture.
"Everyone is going to be watching (prescription) trends," said David Heupel, portfolio manager with Thrivent Investment Management. "For the next month if not longer, it's all going to be about how quickly Vytorin and Zetia ... decline."
Read Full Article from Reuters
- Posted: 2008-04-01 08:40:09
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