Merrill keeps Axcan Pharma neutral

Axcan Pharma Inc. was maintained at neutral by Merrill Lynch analyst Hari Sambasivam in anticipation of fourth-quarter results to be announced on Nov. 10. Merrill's estimates include revenues of $60 million, down from $61 million in the fourth quarter of 2004, and no change in earnings per share over last quarter's $0.09. Merrill said it also anticipates updates regarding the delay in filing a new drug application for ITAX. Shares of the Mont-Saint-Hilaire, Quebec-based pharmaceutical company were up $0.15, or 1.17%, at $12.95 on volume of 629,215 shares versus the three-month running average of 308,539 shares.

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