Merrill reiterates OSI at buy

OSI Pharmaceuticals, Inc. was reiterated by Merrill Lynch analyst Eric Ende at a buy on news that the company is exiting the eye business. The company intends to continue supporting the Macugen brand while it seeks out-licensing, partnering or out-right sale of the franchise. Ende believes the move may be the first step toward a sale of the entire company, worth an estimated $47 per share. Shares of the Melville, N.Y.-based pharmaceutical company were up 31 cents, or 0.80%, at $39.10. (Nasdaq: OSIP)

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