Thomas Weisel maintains King at peer perform

King Pharmaceuticals was maintained at peer perform by Thomas Weisel Partners analyst Donald B. Ellis after the company announced an alliance with Pain Therapeutics to develop and commercialize Remoxy and three other abuse-resistant opioid drugs. Although Ellis disagreed with King's forecast that Remoxy sales could exceed Altace and Sonata annual sales combined, he did describe Remoxy as having "the potential to achieve significant sales." Shares of the Bristol, Tenn.-based pharmaceutical company were down $0.83, or 4.88%, at $16.17 on volume of 4,037,500 shares versus the three-month running average of 2,275,730 shares.

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