ImClone maintained at sell by Merrill

Merrill Lynch analyst Eric Ende kept ImClone Systems Inc. at a sell on news that the company, along with Aventis battled uphill to overcome skepticism during the closing arguments of the trial to sort out the Yeda/ImClone/Aventis inventorship dispute. A decision is expected in September or October, although appeals by losing parties could drag out the litigation a year or more. Damages against ImClone and Aventis could potentially be $15 million, according to the analyst. Shares of the New York City-based biopharmaceutical company were down $2.04, or 5.39%, at $35.82 on volume of 5,066,337 shares versus the three-month running average of 2,033,480 shares. (Nasdaq: IMCL)

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