Schering-Plough (NYSE: SGP) is recently at $15.80 in pre-open trading, below its close of $19.47.
A panel of cardiologists called on physicians to sharply curtail their use of cholesterol-lowering drugs Vytorin (combination of Merck's (NYSE: MRK) Zocor an SGP's Zetia) and Zetia after a clinical study showed the drugs didn't work better than less expensive statin drugs.
SGP April option implied volatility of 58 is above is 26-week average of 36 according to Track Data, suggesting larger price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
Closing Bell: When We All Love the PIIGS (NBG, SQNM, PG, ERTS, KO)
Serious Money: Cheapest Stocks List Shrinks from 26 to 21
Chasing Value: Hasbro Earnings Makes My Point
