Merrill rates Genentech at buy

Merrill Lynch analyst Eric Ende gave Genentech, Inc. a buy rating after The New England Journal of Medicine and the National Eye Institute recommended a large clinical study comparing Avastin to Lucentis for the treatment of macular degeneration. The study's primary driver would be cost, because, according to Ende, as Avastin costs 1% to 2.5% that of Lucentis. Safety issues with Avastin coupled with cost could prevent such a trial from happening, plus results would not come until 2009. Shares of the South San Francisco, Calif.-based biotherapeutic company were up $1.30, or 1.58%, at $83.70. (NYSE: DNA)

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