MGI Pharma rated at buy by Merrill

Merrill Lynch analyst Eric Ende gave MGI Pharma Inc. a buy rating following analyst day, where the company highlighted its pipeline and clarified Aloxi guidance from its second-quarter earnings call. The analyst believes investors may be overestimating the adverse impact generic Zofran will have on Aloxi sales. Aloxi is expected to become more profitable in the private pay sector and could recapture share by the end of 2007. Shares of the Bloomington, Minn.-based biopharmaceutical company were down 26 cents, or 1.71%, at $14.98 on volume of 1,709,037 shares versus the three-month running average of 1,408,830 shares. (Nasdaq: MOGN)

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