Genentech keeps buy rating from Merrill

Merrill Lynch analyst Eric Ende maintained Genentech Inc. at a buy. The Rituxan phase 2 trial in Multiple Sclerosis showed a reduction in lesions measured at weeks 12, 16, 20 and 24 versus a placebo. What will be important in assessing the drug's clinical benefit in MS is the 48-week relapse data, according to the analyst. Full data are expected to be presented at an upcoming medical meeting. Merrill estimates every $100 million in Rituxan MS sales would add up to $0.02 to Genentech's earnings per share. Shares of the South San Francisco, Calif.-based biotherapeutic company were up 2 cents, or 0.02%, at $80.02, on volume of 1,627,300 shares versus the three-month running average of 3,067,500 shares. (NYSE: DNA)

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