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Novartis Buys More Alnylam Shares

Pharmaceutical giant Novartis has exercised its right to buy 55,223 more shares of Cambridge, MA-based Alnylam Pharmaceuticals (NASDAQ: ALNY), Alnylam said today in a statement. The purchases, for almost $1 million, allow Novartis to maintain a 13.4 percent ownership stake in the company, Alnylam said. The two companies began collaborating on RNA interference technology in 2005, and the collaboration has been extended to last through October 2010.