Merrill keeps BioMarin at buy

Merrill Lynch analyst Tom McGahren kept BioMarin Pharmaceutical Inc. at buy after the company's Phenoptin, in phase 3 development for the treatment of phenylketonuria, and partnered excluding the U.S. and Japan with Serono, was highlighted today by Serono as one of its most promising pipeline candidates at the Merrill Lynch Global Pharmaceutical, Biotech & Medtech conference in London. Serono plans a regulatory filing in Europe for Phenoptin in mid-2007, while the analyst expects a U.S. filing in March 2007 and U.S. launch in early 2008. Shares of the Novato, Calif.-based biopharmaceutical company were up 42 cents, or 2.73%, at $15.83. (Nasdaq: BMRN)

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