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Serono retains Merrill's neutral rating
Serono SA was kept at neutral by Merrill Lynch analyst Erica Whittaker after Merck KGaA's agreed acquisition of Serono was at a price equivalent to Merrill's fair value of CHF 1100 per share. In addition, Serono's third-quarter financial results were better than the analyst and consensus had forecasted due mostly to the multiple sclerosis drug Rebif, with U.S. sales of $133 million. Shares of the Geneva-based biopharmaceutical company were up 23 cents, or 1.08%, at $21.48. (NYSE: SRA)
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