New River reiterated at buy by Merrill

Merrill Lynch analyst David Munno reiterated New River Pharmaceuticals Inc. at buy on expected approval of the company's lead drug, NRP104. The analyst believes it will receive a schedule 3 or 4 based on the scientific data. The value to the stock is more in the conversion of Adderall XR to NRP104. New River's second lead drug, NRP290 (a less abusable form of Vicodin for acute pain) may enter phase 3 trials later this year. Shares of the Radford, Va.-based pharmaceutical company were down 32 cents, or 1.30%, at $24.35 on volume of 288,065 shares versus the three-month running average of 303,005 shares. (Nasdaq: NRPH)

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