Flamel gets a neutral rating from Merrill

Flamel Technologies was rated at neutral by Merrill Lynch analyst Hari Sambasivam after the company reported uneventful financial results. Flamel also announced a research and development agreement with an undisclosed partner for three undisclosed products and a marketing agreement for Asacard. The company said a key objective in 2006 would be to lower expenses and cash use to meet revenues from increased R&D deals, upfront payments and milestones. Shares of the Venissieux, France, biopharmaceutical company were up 92 cents, or 4.56% at $21.08 on volume of 197,240 shares versus the three-month running average of 151,410 shares. (NYSE: ELN)

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