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Biotech / Medical : Cambridge Antibody Technology Group

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From: IRWIN JAMES FRANKEL12/21/2004 7:28:49 AM
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Thanks guys - This today from ML:

CATG Cambridge Antibody upgraded to Buy at Merrill Lynch (14.37 )

Merrill Lynch upgrades CATG to Buy from Neutral as they do not believe that the mkt is fully factoring in the valuation impact of Court win for CAT. Judge Laddie's comments were overwhelmingly in favour of CAT, so firm believes that there is only a small chance of Abbott winning an appeal or even being allowed to appeal. Abbott has requested an appeal action, but the Judge will not decide whether he will allow an appeal until the end of January.
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