Mederex initiated by Global Crown at overweight

Mederex Inc. coverage was initiated by Global Crown Capital analyst Kate Winkler at an overweight rating, noting Medarex's impressive pipeline and the caliber of its collaborations - Bristol-Myers Squibb Co., Novartis AG, Eli Lilly & Co. and Pfizer Inc. Princeton, N.J.-based Medarex was recommended as a core biotech holding. Medarex shares Monday edged up 6 cents, or 0.61%, to $9.86 on volume of 853,793 shares versus the three-month running average of 892,538.

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