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Merrill says MedImmune still neutral
MedImmune Inc. was maintained by Merrill Lynch analyst Eric Ende at a neutral rating despite positive results reported by the company on the ability of CAIV-T, a nasal flu vaccine, to reduce flu incidence versus the injectable flu vaccine. Data was solid, but challenges include the ability to get approval for kids under age 2 due to 60% increase in wheezing, which represents 10% to 15% of the market and the price of the vaccine is likely to be double the injectable flu vaccine, a major marketing issue of FluMist previously. Merrill raised 2007 estimates of CAIV-T sales to $163 million from $157 million. Earnings per share for 2007 were increased to $0.97 from $0.93 per share. Shares of the Gaithersburg, Md., biotechnology company were up $1.55, or 4.54%, at $35.71 on volume of 5,029,304 shares versus the three-month running average of 2,726,690 shares.
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