Merrill starts Lundbeck at neutral

Merrill Lynch analyst Erica Whittaker initiating coverage of Lundbeck at a neutral rating, expecting shares to be volatile in the near term, with the start of the U.S. patent litigation trial for Lexapro, Lundbeck's antidepressant, which represents almost 30% of revenue. Lundbeck's long-term growth depends on the insomnia drug gaboxadol, to be launched by Merck in 2008. Shares of the Vancouver, B.C., pharmaceutical company were up DKr 1.75, or 1.25%, at DKr 141.75 on volume of 827,504 shares versus the three-month running average of 876,504 shares. (Copenhagen: LUN)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.