Schering-Plough Stock Plunges 12% -- Vytorin Study Results Disappoint Wall Street

Posted on: Tuesday, 22 July 2008, 21:00 CDT By Daniel Connolly Sales rose a slight 2 percent in the second quarter at the Memphis-based consumer products divisions of drug company Schering- Plough Corp. as sales of over-the-counter Claritin dropped due to a competing drug, issues with shipping timing and a less severe allergy season. And Schering-Plough stock sank Monday on disappointing results from a study of cholesterol drug Vytorin. Shares ended the day at $18.95, down 12 percent, or $2.49, from Friday's close. Schering-Plough makes Vytorin in a joint venture with Merck & Co., whose shares dropped 6 percent, or $2.35, to $35.33. Shelby County is home to Schering-Plough's consumer products division, which makes items including Coppertone sun products, Dr. Scholl's foot care products and over-the-counter drugs including... [read full story]