MGI maintained at buy by Merrill

Merrill Lynch analyst Eric Ende kept MGI Pharma Inc. at a buy after the company reported its earnings and in anticipation of GlaxoSmithKline's early launch of generic Zofran. Aloxi is expected to re-capture its lost share in the second half of 2007 and achieve $300 million of peak sales. Merrill's earnings per share estimate declined to a loss of $0.18 from $0.12, with a reduction in its 2007 estimates of $0.27, from $0.58. Shares of the Bloomington, Minn.-based biopharmaceutical company were down $6.89, or 32.15%, at $14.54 on volume of 14,353,855 shares versus the three-month running average of 1,153,690 shares. (Nasdaq: MOGN)

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