New River reiterated at buy by Merrill

Merrill Lynch analyst David Munno reiterated New River Pharmaceuticals Inc. at buy on news the company submitted a response to the Food and Drug Administration on the approvable letter for NRP104. This action is expected to trigger a new PDUFA date in late December, according to Munno. The analyst believers the label for NRP104 will be differentiated from Adderall XR and that NRP104 will be the next leading ADHD drug with greater than $1 billion in sales. Shares of the Radford, Va.-based pharmaceutical company were down $2.52, or 4.85%, at $49.39. (Nasdaq: NRPH)

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