Merrill maintains Angiotech at neutral

Angiotech Pharmaceuticals Inc. was maintained by Merrill Lynch analyst Hari Sambasivam at a neutral rating as 2005 fourth-quarter sales of the Taxus paclitaxel-eluting stent were $606 million, modestly below estimates of $623 million. Lower-than-expected sales of Taxus affect the company's earnings per share in the first quarter of 2006 by $0.01. The rating may be reviewed by Merrill pending the launch of Taxus Liberte in the United States and other factors. Shares of the Vancouver, B.C., pharmaceutical company were up 33 cents, or 2.45%, at $13.81 on volume of 417,954 shares versus the three-month running average of 442,356 shares.

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