Wyeth at buy by Merrill

Merrill Lynch analyst David Risinger rated Wyeth at a buy on high risk, early stage Alzheimer's projects. Wyeth and Elan are developing AAB-001, a monoclonal antibody intended to clear and prevent development of beta amyloid plaques in Alzheimer's disease. Merrill questions whether or not reduction in plaque volumes results in cognitive improvement. Wyeth has two other Alzheimer's programs: Lecozopan, an oral agent, and AAC-001 immunoconjugate, a vaccine. The analyst forecasts $200 million in risk-adjusted Alzheimer's program sales in 2012. Shares of the Madison, N.J., pharmaceutical company were up 45 cents, or 0.92%, at $49.54 on volume of 4,994,700 shares versus the three-month running average of 4,378,360 shares. (NYSE: WYE)

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