Genentech keeps buy from Merrill

Genentech Inc. was maintained at its buy rating by Merrill Lynch analyst Eric Ende after the company obtained an option to acquire a Lonza manufacturing facility in Singapore. This would likely result in a meaningful tax reduction by 2011. The lower tax rate could increase 2011 earnings per share by about $0.60, according to Ende. Shares of the South San Francisco, Calif.-based biotherapeutic company were down $2.23, or 2.67%, at $81.35. (NYSE: DNA)

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