Merrill maintains Genmab at buy

Genmab AS was maintained by Merrill Lynch analyst Peter Welford at a buy rating after positive phase 1/ 2 data was presented at a medical conference showing HuMax-CD20 is efficacious in difficult-to-treat relapsed or refractory CLL patients. Merrill said it believes HuMax-CD20 could conservatively achieve $700 million in sales by 2012, only a fraction of Rituxin's worldwide sales in 2004. Clinical trials with other compounds, including HuMax-CD4, also are progressing positively. Shares of the Copenhagen, Denmark, biopharmaceutical company were unchanged at Dkr 135.5 on volume of 307,538 shares.

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