Bear Stearns rates Schering Plough at underperform

Schering Plough Corp. was reiterated at underperform with a $14 fair value price by Bear Stearns analyst John Boris on news that the generic Flonase discount erodes to 42% from 28%. There is also risk to the analyst's 2007 Nasonex estimate of $580 million. Shares of the Kenilworth, N.J., pharmaceutical company were down 3 cents, or 0.16%, at $19.30 on volume of 5,486,600 shares versus the three-month running average of 7,202,080 shares. (NYSE: SGP)

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