Genentech at neutral by Merrill

Genentech Inc. was rated at neutral by Merrill Lynch analyst Eric Ende on news that the New England Journal of Medicine reported that Avastin was associated with at least two cases of a rare, but reversible, brain condition called RPLS. With more cases likely to be identified, the drug's label will be changed to reflect the condition. Merrill does not expect Avastin usage to suffer, as its benefit for metastatic cancer outweighs the risk of RPLS. Shares of the South San Francisco biotechnology company were up 10 cents, or 0.12%, at $85.05 on volume of 3,888,000 shares versus the three-month running average of 3,346,070 shares. (NYSE: DNA)

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