Jefferies initiates Allergy Therapeutics at buy

Allergy Therapeutics coverage was initiated by Jefferies International Ltd. analyst Robin Campbell at a buy rating. The company's phase 2 trial ends in the first quarter of 2006 with an FDA meeting expected that could lead to the start of a pivotal U.S phase 3 program for Pollinex Quattro to treat pollen and mite allergies. Shares were down £4.50 at £82.50.

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