Merrill keeps OSI at buy

OSI Pharmaceuticals, Inc. was maintained by Merrill Lynch analyst Eric Ende at a buy rating. The company reported second-quarter earnings per share with little surprise, given the pre-announcement of Tarceva sales ($103 million, worldwide), according to the analyst. Macugen sales were weak and the company will cut related spending to keep the drug profitable. The analyst believes the company will ultimately divest itself of Macugen. Shares of the Melville, N.Y.-based pharmaceutical company were up 23 cents, or 0.68%, at $34.04, on volume of 3,572,593 shares versus the three-month running average of 1,128,860 shares. (Nasdaq: OSIP)

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