Merrill retains Elan at sell

Elan Corp. plc was maintained by Merrill Lynch analyst Erica Whittaker at a sell rating. The company reported 2005 fiscal year revenues of $490 million, above the analyst's estimate of $474 million. Increased revenues were attributed to improved Maxipime sales. Tysabri is expected to re-enter the market the first half of this year. Merrill forecasts peak sales of about $500 million. Shares of the Dublin, Ireland, biopharmaceutical company were up $1.26, or 8.60%, at $15.91 on volume of 21,750,900 shares versus the three-month running average of 9,445,580 shares. (NYSE: ELN)

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