Many analysts think Vytorin and Zetia sales will be affected through at least early 2009. But Timothy Anderson, who follows the company for Sanford Bernstein, said the market reaction is "overly pessimistic."
Some assumptions call for a decline in Vytorin/Zetia sales of 50 percent or more, Anderson said in a note to investors. More likely is a 25 percent drop by the end of 2009, with a greater falloff in the United States, he said.
"Does all of this mean that Vytorin/Zetia will become a near-dead franchise on life-support, like the market is suggesting?" he wrote. "Not likely. It will decline in value, however."
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