Adams Respiratory rated at perform by RBC

RBC Capital Markets analyst Ken Trbovich rated Adams Respiratory Therapeutics at perform with above average risk after the company announced its intention to acquire Delsym cough syrup for $122 million. Delsym is the second-best selling cough syrup, behind Robitussin, with 2005 sales of $38.2 million, or 14% of the $300 million market. RBC believes the acquisition of Delsym could add $90 million to $110 million in sales, while increasing earnings by $0.40 to $0.65 per share over the next five years. Shares of the Chester, N.J., specialty pharmaceutical company were down 36 cents, or 0.78%, at $45.52 on volume of 227,662 shares versus the three-month running average of 270,935 shares. (Nasdaq: ARXT)

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