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Flamel kept at neutral by Merrill
Merrill Lynch analyst Michael Pollard maintained Flamel Technologies SA at neutral ahead of the Food and Drug Administration's action date of Oct. 20 for GlaxoSmithKline's Coreg CR. According to Pollard, the most likely outcome will be an approvable letter with label negotiations. The analyst's estimates for Coreg CR sales in 2007 to 2009 are $450 million, $932 million and $1.15 billion, respectively. Shares of the Venissieux, France-based biopharmaceutical company were up 8 cents, or 0.35%, at $22.62. (Nasdaq: FLML)
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