ING reiterates neutral weighting on the European pharmaceutical sector, with GlaxoSmithKline (GSK) and Roche (RHHBY) as top picks given their strong earnings momentum and lower risk profiles. Says there is attractive value in Sanofi-Aventis (SNY), which is rated buy, although with heightened risk/reward benefits ahead of the FDA decision on Acomplia. Reiterates hold stance on Novartis (NVS) and AstraZeneca (AZN).