Merrill maintains Theravance at buy

Theravance Inc. was maintained at buy by Merrill Lynch analyst Eric Ende on news that the company fully enrolled its phase 3 Telavancin trial for complicated skin infections, triggering a $25 million milestone payment from Astellas. Data from the trial could come in the third-quarter 2006. Positive data from the trial and subsequent approval could result in peak sales up to $800 million if the drug demonstrates superiority to Vancomycin. Shares of the South San Francisco, Calif., pharmaceutical company were up 16 cents, or 0.62%, at $25.91 on volume of 190,637 shares versus the three-month running average of 182,966 shares. (Nasdaq: THRX)

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