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So the day before yesterday I told you about Schering-Plough's expected "dead cat bounce." Yesterday the dead cat bounced, and today Schering-Plough fell off the cliff, again, but recouperated some of those losses when Jim Cramer said that SGP and MRK were oversold.
Why did SGP and MRK drop? Apparently the FDA is going to look at the ENHANCE trial and "review whether to take regulatory action" against SGP and MRK.
What a show.
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Peter Rost, M.D. writes for BrandweekNRX since August 1, 2007. Dr. Rost is a former VP of Pfizer engaged as a pharma expert witness and pharmaceutical marketing consultant by several law firms. He also writes the daily Pharma Law Blog and is the author of Killer Drug and The Whistleblower. Contact Dr. Rost by clicking here.
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