UCB reiterated by Merrill at buy

UCB NPV was reiterated by Merrill Lynch analyst Erica Whittaker at a buy rating and a €48 price target after the company gave Merrill an update on Crohn's treatment Cimzia, which Merrill said it believes has a winning combination of pricing advantage and dosing convenience versus Remicade and Humira. The company said its Xyzal study did not meet its clinical endpoint of prevention of asthma in at-risk children, but that was expected. The commercialization of the antihistamine in the United States will be outlined by mid-2006, the company said. Shares of the Brussels, Belgium, pharmaceutical company were down €1.12 at €41.53 on volume of 563,633 shares.

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