UCB reiterated at buy by Merrill

Merrill Lynch analyst Erica Whittaker reiterated UCB at its buy rating and a €48 price target. UCB signed a licensing agreement with Sepracor for UCB's Xyzal antihistamine, paving the way for UCB to commercialize the product in the United States. The U.S. prescription antihistamine market is expected to decline due to a shift from prescription drugs to generics and OTC. As a result, Merrill expects Xyzal to be marketed in the niche indication of chronic allergy sufferers, which would generate much lower sales than Zyrtec. Shares of the Berlin, Germany, biopharmaceutical company were up €0.40, or 1.01%, at €40 on volume of 320,783 shares versus the three-month running average of 264,445 shares. (Brussels: UCB)

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