Merrill rates UCB at buy

UCB was rated at buy by Merrill Lynch analyst Erica Whittaker after the company reported better-than-expected phase 2 clinical results for Cimzia in the treatment of psoriasis. The analyst's 2012 global Cimzia sales forecast of $1.3 billion, near the top end of expectations, is due in part to enthusiasm for Cimzia in Crohn's disease (representing about 65% of the forecast). Shares of the Brussels, Belgium-based biopharmaceutical company were down €0.33, or 0.72%, at €45.40 on volume of 938,277 shares versus the three-month running average of 363,880 shares. (Brussels: UCB)

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