Merrill keeps BioMarin at buy

BioMarin Pharmaceutical Inc. was maintained by Merrill Lynch analyst Tom McGahren at a buy after the company said it has dosed the first patient in its phase 2 trial of 6R-BH4 in the treatment of poorly controlled hypertension. Data from the study is expected in early 2007. A total of 84 patients will be enrolled in the study to receive oral BH4 (5 mg/kg) or a placebo twice daily for eight weeks. Partner Serono will share equally in the development costs after phase 2 trials and would market the commercialized product outside the United States and Japan. Shares of the Novato, Calif.-based biopharmaceutical company were down 20 cents, or 1.36%, at $14.50 on volume of 535,923 shares versus the three-month running average of 967,495 shares. (Nasdaq: BMRN)

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