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Merrill keeps UCB at buy
UCB was retained at buy by Merrill Lynch analyst Erica Whittaker. Cimzia is UCB's key growth driver and the analyst forecasts 2010 Cimzia sales of $670 million in Crohn's and $270 million in rheumatoid arthritis. The clinical data from Abbott's Humira study are similar to those seen for Remicade and Cimzia (PRECiSE 2 study), in which about 40% of Crohn's patients achieved disease remission after 6 months. Merrill expects the market entry of Cimzia and Humira to expand the global Crohn's biologics market to $2 billion in 2010, with all three drugs capturing a third of the Crohn's biologics market. Shares of the Brussels, Belgium, biopharmaceutical company were down €0.47 or 0.27%, at €40.99 on volume of 564,985 shares versus the three-month running average of 371,329 shares. (Brussels: UCB)
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