UBS Maintains a 'Buy' on Merck (MRK); Nasonex Ruling Not A Concern At This Time

UBS maintains a 'Buy' on Merck (NYSE: MRK) price target of $42.00.

Analyst, Marc Goodman, said that the recent Nasonex ruling is not a concern at this time.

Note - on Friday, June, 15, 2012, announced that the U.S. District Court of New Jersey had ruled against the company in a patent infringement suit against Apotex.

The patent at issue in this case is U.S. Patent No. 6,127,353 that covers mometasone furoate monohydrate, the active ingredient in NASONEX and which provides exclusivity for this form of mometasone until April 3, 2018.

Apotex is seeking U.S. Food and Drug Administration (FDA) approval to sell a generic version of NASONEX.

For an analyst ratings summary and ratings history on Merck click here. For more ratings news on Merck click here.

Shares of Merck closed at $38.94 yesterday.

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