Shares of Schering-Plough Corp. (NYSE: SGP) and Merck & Co. (NYSE: MRK) were obliterated today after a major study cast doubt on the effectiveness of their cholesterol-fighting drugs Vytorin and Zetia.

Schering-Plough fell $5, nearly 26%, to $14.47 in early afternoon trading while Merck plunged $6.67, or 15%, to $37.84. As the New York Times and other media outlets noted, the news from the American College of Cardiology couldn't have been much worse for investors.

A scientific panel said the drugs failed to slow the growth of plaques in arteries associated with heart attacks and strokes. It also urged physicians and patients to "rely more heavily on older cholesterol-lowering drugs called statins, which have proven benefits and can be cheaper," according to the Times.

For Schering-Plough, the results are potentially devastating because both drugs account for about 70% of the company's profit, according to analysts' cited by the paper. You have to wonder how much longer Schering-Plough can remain independent.

About the only winners from this mess are the media companies. Those annoying commercials for the drugs helped fatten their bottom lines during a period of uncertain consumer spending. If the companies have any hope of salvaging these products, they are going to need to open up their checkbooks and buy lots and lots of advertising.

Freelance journalist Jonathan Berr writes and edits the blog Ketchup and Eggs.

Last week, I linked to an article on the 12 most dangerous (and safest) states, based on various violent-crime statistics. Many New England territories were among those judged as "safest," and for the sixth time in seven years, Vermont has now topped the charts as America's healthiest state (I guess the locally made Ben & Jerry's ice cream is enjoyed sparingly!). The rulings, published by Morgan Quitno Press for the past 15 years, are based on 21 factors, including teenage birth rate, health coverage, and rate of certain diseases.

Next on the list is Minnesota, hitting number one in terms of the percentage of residents who exercise regularly and those carrying health insurance. The New England region rounds out the top five, with Massachusetts, Maine, and New Hampshire taking the three-through-five spots.

The remainder of the top 12: