Don't know abt dropping all the STATS, but you can definitely update the stats for all the tables with UPDATE STATS. (It drops and re-creates the STATS)

Here is the script to update STATS for all Tables in the DB

DECLARE @tablename varchar(30)

DECLARE @tablename_header varchar(75)

DECLARE tnames_cursor CURSOR FOR SELECT name FROM sysobjects

WHERE type = 'U'

OPEN tnames_cursor

FETCH NEXT FROM tnames_cursor INTO @tablename

WHILE (@@fetch_status <> -1)

BEGIN

IF (@@fetch_status <> -2)

BEGIN

SELECT @tablename_header = "Updating " +

RTRIM(UPPER(@tablename))

PRINT @tablename_header

EXEC ("UPDATE STATISTICS " + @tablename )

EXEC ("sp_recompile " + @tablename )

END

FETCH NEXT FROM tnames_cursor INTO @tablename

END

PRINT " "

PRINT " "

SELECT @tablename_header = "************* NO MORE TABLES" +

" *************"

PRINT @tablename_header

PRINT " "

PRINT "Statistics have been updated for all tables."

DEALLOCATE tnames_cursor

GO