Merrill Lynch reiterates Cubist at buy

Cubist Pharmaceuticals Inc. was reiterated by Merrill Lynch analyst David Munno at a buy rating based on management's report that phase III bacteremia and endocarditis are robust. Final data will be presented at the ICAAC meeting, and a manuscript was submitted to a prestigious medical journal. Also, Chiron, which owned the EU rights to Cubicin, agreed to be acquired by Novartis, which is likely a better partner based on its strong sales force already infiltrated in hospitals there. Shares of the Lexington, Mass.-based drug development company were down $0.14, or 0.66%, at $21.14 on volume of 408,417 shares versus the three-month running average of 641,494 shares.

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