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Dutton Associates Announces Investment Opinion: MINRAD International Rated Strong Speculative Buy in Update Report by Dutton Associates.

EL DORADO HILLS, Calif. -- Dutton Associates updates its coverage of MINRAD International (AMEX:BUF), reiterating its Strong Speculative Buy rating and 12-month price target of $5.25. The 21-page report by Dutton Associates senior analyst Sally H. Wallick, CFA, is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, and Knobias and other leading financial portals. MINRAD International, Inc. is an interventional pain management company with three focus areas; anesthesia and analgesia, real-time image guidance, and conscious sedation. In the anesthesia and analgesia segment, the Company manufactures generic inhalation anesthetics, including Isoflurane, Enflurane and Sevoflurane. In 2006, approximately 99% of revenue was generated by sales of anesthesia and analgesia products. In addition, the Company has launched a second generation of patented real-time image guidance technology products and is developing a drug/drug delivery system for conscious sedation. Dutton Associates projects a more than tripling of revenue in 2008 to approximately $55 million, mainly as a result of sharply higher sales of Sevoflurane, and a net profit of $3.8 million or $0.08 per share. In 2009, we project revenue of $90 million and earnings of $0.35 per share.

About Dutton Associates

Dutton Associates is one of the largest independent investment research firms in the U.S. Its 27 senior analysts are primarily CFAs and have expertise in many industries. Dutton Associates provides continuing analyst coverage of 110 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.

The current cost of enrollment in our one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $35,000 from the Company for 4 Research Reports with coverage commencing on 2/2/06. The Firm does not accept any equity compensation. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.
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Publication:Business Wire
Date:Jan 2, 2008
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