Merrill rates Angiotech at buy

Angiotech Pharmaceuticals Inc. was given a buy rating by Merrill Lynch analyst Hari Sambasivam. Data from Abbott's ZoMaxx IV U.S. study were disclosed. The results had been long awaited to gauge the impact of this new entrant on market shares for competing drug eluting stents. Four-month data showed no evidence of major adverse coronary events. Taxus has maintained market share and pricing in Europe and international markets, especially with the launch of the Taxus Liberté (5% premium to Taxus Express). Share for Endeavor in Europe appears to be coming from Cypher. Shares of the Vancouver, B.C., pharmaceutical company were up 10 cents, or 0.58%, at $17.29 on volume of 318,393 shares versus the three-month running average of 227,494 shares. (Toronto: APN)

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