Actelion retained at neutral by Merrill

Actelion was retained at a neutral rating by Merrill Lynch analyst Erica Whittaker. Following Tracleer's strong showing in the fourth quarter of 2005, Merrill increased its Tracleer sales forecasts by 5-plus percent in 2006 and beyond. The analyst downgraded its earnings-per-share forecasts by 3% to 7% due to increased costs, particularly marketing and advertising, as Actelion increases its efforts to defend its Tracleer franchise before the launch of competing products. Shares of the Allschwil, Switzerland, biopharmaceutical company were up CHF 0.80, or 0.68%, at CHF 118.00 on volume of 184,945 shares versus the three-month running average of 185,647 shares. (Swiss: ATLN)

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