Merrill maintains Genentech at buy

Genentech Inc. was maintained by Merrill Lynch analyst Eric Ende at a buy rating after the company submitted a BLA for Lucentis to treat wet age-related macular degeneration. Merrill said it expects approval possible in late June if priority review is granted. Peak sales are estimated at $761 million in 2010. On Dec. 30, shares of the South San Francisco, Calif., biotechnology company were up 44 cents, or 0.48%, at $92.50 on volume of 2,357,900 shares versus the three-month running average of 3,504,990 shares.

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