Merrill keeps Alizyme at buy

Alizyme was retained by Merrill Lynch analyst Peter Welford at buy with a 170p price objective based on a sum-of-the-parts valuation. The obesity drug cetilistat represents a major component of the valuation. Merrill believes the company could partner cetilistat by mid year, prior to phase 3 trials, with a late 2009 launch expected and sales of $1.5 billion by 2012. Shares of the Cambridge, U.K., pharmaceutical company were up 19p, or 11.41%, at 185.50p on volume of 5,025,491 shares. (London: AZM)

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