Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Q > Headlines for QLT Inc. > News item |
QLT kept at neutral by Merrill
QLT Inc. was kept at its neutral rating by Merrill Lynch analyst Hari Sambasivam. The analyst is looking for more clarity on management's strategy to address the projected decline in Visudyne revenues, evidence of shareholder value creation from the share buyback and potential transactions, and details of any acquisitions/in-licensings. Also, despite a stay of injunction granted by the Court of Appeal, QLT's marketing partner Sanofi-Synthelabo decided to suspend sales of Eligard in the United States pending expiry of the TAP patent on May 1, 2006. Merrill estimates the impact of six weeks of lost sales to its 2006 estimate will be a $0.03 per share reduction. Shares of the Vancouver, B.C., biopharmaceutical company were down 21 cents, or 2.90%, at $7.20 on volume of 2,084,211 shares versus the three-month running average of 1,675,820 shares. (Nasdaq: QLTI)
© 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.