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Stocking Up
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Business New Haven
10/20/1997
By: Russell Stone
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NEW HAVEN - Alexion Pharmaceuticals (NASDAQ: ALXN) has attracted the attention of several brokerage houses. Salomon Brothers initiated coverage on Alexion October 2, rating the stock a strong buy. That announcement followed a September declaration by Robertson Stephens that it was initiating coverage, also as a strong buy. The company also announced that United States Surgical (NYSE: USS) had increased its stake in Alexion, paying $6.5 million for stock, licensing and manufacturing assets. U.S. Surgical bought $3 million of shares at $17.97 while paying an additional $3.5 million for Alexion's xenograft manufacturing assets. Xenografts are animal organs genetically engineered to serve as transplants for human patients caught on long waiting lists for available transplants.
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