Angiotech cut to neutral by Merrill

Merrill Lynch analyst Hari Sambasivam downgraded Angiotech Pharmaceuticals Inc. to neutral reflecting the Merrill Lynch Stent Safety Survey conclusions. The survey of 50 interventional cardiologists revealed declining drug eluting stent (DES) penetration rates and stent thrombosis viewed as a class effect. Sambasivam believes the stock price will continue to languish, trading in conjunction with Boston Scientific until Angiotech's revenues and earnings show strong evidence of being independent from Taxus. Shares of the Vancouver, B.C.-based medical technology company were down 18 cents, or 2.06%, at $8.56. (Nasdaq: ANPI)

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