Merrill reiterates MGI Pharma at buy

MGI Pharma Inc. was reiterated at buy by Merrill Lynch analyst Eric Ende. Merrill raised its 2006 Dacogen sales estimate to $33.4 million, from $26.5 million, based on stronger than expected launch of the drug in myelodysplastic syndrome. Third-quarter Aloxi sales should reach at least $70 million The company expects Aloxi sales of at least $200 million in the first nine months of 2006. Merrill raised its 2006 loss per share estimate to $0.11, from $0.16. Shares of the Bloomington, Minn.-based biopharmaceutical company were up 96 cents, or 6.02%, at $16.91. (Nasdaq: MOGN)

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