Merrill keeps OSIP at buy

OSI Pharmaceuticals Inc. was maintained by Merrill Lynch analyst Eric Ende at a buy rating on news that the FDA granted priority review to Lucentis in wet age-related macular degeneration, with a late-June PDUFA date. Two-year data from the Marina study suggested sustained efficacy, but the number of cerebral vascular events and myocardial infarctions in Lucentis patients rose in year two. Safety could be a question for some patients. Shares of the Melville, N.Y., biotechnology company were down 65 cents, or 2.00%, at $31.83 on volume of 1,851,219 shares versus the three-month running average of 1,619,230 shares. (NYSE: OSIP)

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