Angiotech maintains Merrill's neutral rating

Merrill Lynch analyst Hari Sambasivam kept Angiotech Pharmaceuticals Inc. at its neutral rating. The company's third-quarter 2006 revenues of $86 million, including $42 million of Taxus royalties, were lower than the analyst's expectations of $101 million. Total expenses of $70 million were also below Merrill's estimate of $78 million. Angiotech updated its outlook for 2006 in part to reflect lower stent sales by partner Boston Scientific on stent thrombosis concerns. Revenue expectations were reduced to the range of $302 million to $306 million, from a range of $325 million to $335 million. Share of the Vancouver, B.C.-based medical technology company were down 56 cents, or 5.79%, at $8.95. (Nasdaq: ANPI)

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