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Merrill retains buy for UCB
UCB's buy rating has been retained by Merrill Lynch with a price objective of €48 after the company announced positive clinical trial data showing that its drug Keppra is effective in treating the major form of generalized seizures. Analyst Erica Whittaker said generalized seizures represent about one-third of the epilepsy market but are poorly treated by available drugs. Merrill's conservative estimate puts Keppra market share at 4% by 2010. Shares of the Brussels, Belgium-based pharmaceutical company were down €0.67, or 1.63%, at €40.32 on volume of 177,068 shares versus the three-month running average of 336,270 shares.
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