Merrill reiterates Alexion at buy

Alexion Pharmaceuticals Inc. was reiterated at a buy by Merrill Lynch analyst David Munno. While the company's second-quarter earnings per share announcement was a non-event, Alexion also revealed that the European Medicines Agency would review its Soliris application under the Accelerated Assessment procedure. According to the analyst, this suggests the drug could launch as much as one quarter ahead of Merrill's prior estimate. Shares of the Cheshire, Conn.-based biotechnology company were down $1.19, or 3042%, at $62.75, on volume of 451,401 shares versus the three-month running average of 363,975 shares. (Nasdaq: ALXN)

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