Elan kept at sell by Merrill

Merrill Lynch analyst Erica Whittaker retained Elan Corp.'s sell rating as the company's quarterly loss was lower than expected due to the sale of European rights for Prialt to Eisai. Elan retains its outlook of $150 million to $170 million Tysabri expenses for the full year, compared to Merrill's estimate of $160 million. Shares of the Dublin, Ireland, biopharmaceutical company were up 27 cents, or 1.86% at $14.75 on volume of 3,932,300 shares versus the three-month running average of 6,730,810 shares. (NYSE: ELN)

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