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OSI maintained by Merrill Lynch at buy
OSI Pharmaceuticals, Inc. was maintained by Merrill Lynch analyst Eric Ende at a buy rating after the company outlined its strategy for integration of the newly acquired Eyet. Merrill Lynch said if Macugen sales decline faster than expected, if a label expansion for diabetic macular edema is delayed or if sales fall below $200 million, the company may be challenged in making the Eyet acquisition financially accretive. But, the completion of the acquisition could remove a near-term overhang and help the stock. Shares of the Melville, N.Y., biotechnology company were up 79 cents, or 3.33%, at $24.51 on volume of 1,090,731 shares versus the three-month running average of 2,976,730 shares.
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