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
Biotech ETFs: Best bets on health care reform
Cramer on BloggingStocks: The world's been waiting for the new GM 
Dell fights Taiwanese authorities over pricing mishaps
