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S&P may downgrade Schering-Plough; Merck ratings unaffected

SAN FRANCISCO (MarketWatch) — Standard & Poor’s said Monday it may downgrade ratings for Schering-Plough Corp. while leaving the ratings of Merck & Co. unchanged after the companies released unflattering data on their joint-venture cholesterol drug Vytorin. S&P has an A- corporate credit rating on Schering-Plough. “Standard & Poor’s expects sales to be under considerable pressure given the trial results and panel recommendations, which may lead doctors to question the benefit of the drugs,” said Arthur Wong, an S&P credit analyst, in a statement. S&P is leaving Merck’s AA- rating alone because Merck has a diverse product portfolio that has seen the recent addition of newer products, the rating agency said.
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This entry was posted on Monday, March 31st, 2008 at 1:54 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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