Merrill rates UCB at buy

UCB was given a buy rating by Merrill Lynch analyst Erica Whittaker following release of the company's first-half 2006 results. Revenues of €1.32 billion beat Merrill's estimate of €1.24 billion and consensus of €1.25 billion. The company also announced that a new Keppra XR (extended release) formulation has entered phase 3. Shares of the Brussels, Belgium-based biopharmaceutical company were down €1.25, or 2.12%, at €57.75 on volume of 2,000 shares. (Brussels: UCB)

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