Merrill maintains Alizyme at buy

Alizyme was maintained at buy with a 170p price target by Merrill Lynch analyst Peter Welford after the company reported positive data from a phase 1 U.S. study of obesity drug ATL-962 in 80 patients. The study showed the safety of ATL-962 and suggested it may have fewer side effects than Roche's Xenical. Merrill predicted the drug will launch in late 2009 and have sales of more than $1.5 billion by 2012. Shares of the Cambridge, England-based pharmaceutical company were up 10.25p, or 10.15%, at 111.25p on volume of 4,038,979 shares.

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