Actelion kept at neutral by Merrill

Actelion Ltd. was retained by Merrill Lynch analyst Erica Whittaker at a neutral rating as Tracleer sales push financial results above consensus. The company's first-quarter 2006 net revenues of CHF 211 million beat Merrill's estimate of CHF 193 million and consensus of CHF 194 million. Adjusted earnings per share were CHF 2.38, compared with the analyst's estimate of CHF 1.77. Shares of the Allschwil, Switzerland, biopharmaceutical company were down CHF 1.30, or 0.93%, at CHF 138.20 on volume of 395,974 shares versus the three-month running average of 150,501 shares. (Swiss: ATLN)

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