Biogen IDEC kept at neutral by Merrill

Biogen IDEC Inc. maintained its neutral rating by Merrill Lynch analyst Eric Ende on the Food and Drug Administration recommendation that Tysabri for multiple sclerosis return to the U.S. market with a broad label. Tysabri has a PDUFA date of March 29. The FDA panel did not believe that the drug should be restricted to second line patients or those with significant disability. Merrill projects Tysabri 2006 sales of $103 million, 2007 sales of $403 million and peak sales of more than $750 million. Shares of the Cambridge, Mass., pharmaceutical company were up $2.03, or 4.46%, at $47.54 on volume of 14,454,078 shares versus the three-month running average of 3,312,280 shares. (Nasdaq: BIIB)

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