If the ring is roundish but not perfectly spherical I would consider ringworm
as a possibility. Just a thought. It can be treated with Lotrimin cream (OTC
strength). I think that Kathleen Huggins article on persistant nipple soreness
included one case of ringworm on the breast. Sometimes ringworm can present
with a raised bumpy border. It might not be as scaly on the breast as it is
on other places.
Cindy N.