Genentech held at buy by Merrill

Merrill Lynch analyst Eric Ende kept Genentech Inc. at buy and updated his oncology product models for Avastin, Herceptin, Tarceva and Lucentis. Ende is projecting Avastin sales of more than $5 billion by 2010. The new models better reflect patient populations, penetration and discontinuation rates for use for each drug, according to Ende. Shares of the South San Francisco, Calif.-based biotherapeutic company were up $`.39, or 1.69%, at $83.58. (NYSE: DNA)

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