Flamel downgraded by Merrill Lynch to sell

Flamel Technologies SA was downgraded by Merrill Lynch analyst Hari Sambasivam to sell from neutral following news that TAP Pharmaceutical Products will terminate the license for its Prevacid proton pump inhibitor formulation in December. Flamel shares Tuesday were down $0.24, or 1.48%, at $16.03 on volume of 803,538 shares versus the three-month running average of 237,150 shares.

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