Merrill maintains QLT at neutral

QLT Inc was maintained at a neutral rating by Merrill Lynch analyst Hari Sambasivam on news that the U.S. District Court for the Northern District of Illinois Eastern Division denied QLT's claim that Takeda Abbott's (TAP; Manufacturer of Lupron, leuprolide acetate) patent 4,728,721 was unenforceable in regards to Eligard (leuprolide acetate). QLT has indicated it will appeal the verdict. Shares of the Vancouver, B.C., biopharmaceutical company were down 40 cents, or 5.94%, at $6.33 on volume of 2,665,142 shares versus the three-month running average of 1,201,540 shares. (Nasdaq: QLTI)

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