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Oncothyreon is a potential target of Merck KGaA, says Cowen

Cowen believes it makes sense for Merck KGaA to acquire Oncothyreon, given the high probability that tecemotide succeeds in the START2 Phase III trial. The analyst said Oncothyreon would receive royalties and owns 100% rights to the follow-up vaccine. Shares are Outperform rated.