Schering Plough "underperform"

03/22/06 - Bear Stearns

NEW YORK, March 22 (newratings.com) - Analyst John Boris of Bear Stearns reiterates his "underperform" rating on Schering Plough Corporation (SGP).

In a research note published yesterday, the analyst mentions that the company witnessed a decline in Nasonex's sales growth in February due to the launch of generic Flonase. Deceleration in Nasonex's sales growth adds to the pressure on Schering Plough’s earnings, the analyst says. The 2007 sales estimate for Nasonex accounts for about 20-25% of the EPS estimate for the company, Bear Stearns points out.