New River still a buy, Merrill says

New River Pharmaceuticals Inc. was reiterated by Merrill Lynch analyst David Munno at a buy rating after Shire announced a delay in the pending Adderall XR litigation between it and Barr Labs, which should delay the leading edge of Adderall XR generics. A trial is not likely before the second quarter of 2006 and a ruling seems unlikely for the end of 2006. But additional hurdles to an early generic include Shire's citizen's petition to the FDA, additional litigation over the later issued 768 patent and a likely appeal by Shire to any adverse ruling. Shares of the Radford, Va., specialty pharmaceutical company were down $1.09, or 2.24%, at $47.61 on volume of 52,256 shares versus the three-month running average of 89,573.8 shares.

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