Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
DRAKEMAN DONALD L
   2. Issuer Name and Ticker or Trading Symbol
MEDAREX INC [MEDX] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President & Chief Executive
(Last)
(First)
(Middle)
MEDAREX, INC., 707 STATE ROAD		 3. Date of Earliest Transaction (Month/Day/Year)
03/01/2006
(Street)

PRINCETON, NJ 08540		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, $.01 par value per share               255,612 D  
Common Stock, $.01 par value per share               30,000 I by Spouse
Common Stock, $.01 par value per share               43,072 I by Children
Common Stock, $.01 par value per share               13,513 I by Trusts (1)
Common Stock, $.01 par value per share               57,657 I by GRAT (2)
Common Stock, $.01 par value per share               41,546 I By GRAT (10)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options (Right to Buy) $ 3.22 04/24/1996   A   40,000   08/24/1996 04/23/2006 Common Stock 40,000 $ 0 40,000 D  
Stock Options (Right to Buy) $ 3.43 11/01/1999   A   224,000   05/01/1999 10/31/2009 Common Stock 224,000 $ 0 224,000 D  
Stock Options (Right to Buy) $ 45.2 10/13/2000   A   43,788   04/13/2001 10/12/2010 Common Stock 43,788 $ 0 43,788 D  
Stock Options (Right to Buy) $ 45.2 10/13/2000   A   2,212   10/13/2001 10/12/2010 Common Stock 2,212 $ 0 2,212 D  
Stock Options (Right to Buy) $ 27.81 01/09/2001   A   116,405   07/09/2001 01/08/2011 Common Stock 116,405 $ 0 116,405 D  
Stock Options (Right to Buy) $ 27.81 01/09/2001   A   3,595   01/09/2002 01/08/2011 Common Stock 3,595 $ 0 3,595 D  
Stock Options (Right to Buy) $ 12.9 09/19/2001   A   400,000   09/19/2002(3) 09/18/2011 Common Stock 400,000 $ 0 400,000 D  
Stock Options (Right to Buy) $ 6.37 07/11/2002   A   300,000   07/11/2003(4) 07/10/2012 Common Stock 300,000 $ 0 300,000 D  
Stock Options (Right to Buy) $ 2.8 03/06/2003   A   107,000   03/06/2004(5) 03/05/2013 Common Stock 107,000 $ 0 107,000 D  
Stock Options (Right to Buy) $ 5.59 07/24/2003   A   14,000   01/24/2004 07/23/2013 Common Stock 14,000 $ 0 14,000 D  
Stock Options (Right to Buy) $ 7.155 10/14/2003   A   500,000   10/14/2004(7) 10/13/2013 Common Stock 500,000 $ 0 500,000 D  
Stock Options (Right to Buy) $ 0             08/08/1988(8) 08/08/1988(8) Common Stock 0   278,000 I by Spouse (6)
Stock Options (Right to Buy) $ 5.61 07/26/2004   A   350,000   07/26/2005(9) 07/25/2014 Common Stock 350,000 $ 0 350,000 D  
Phantom Stock Units (13) $ 0 (13) 02/08/2005   A   88,608 (13)   02/08/2005(13) 02/08/2008(13) Common Stock 88,608 (13) $ 0 88,608 (13) D  
Stock Options (Right to Buy) $ 9.9 09/06/2005   A   500,000   09/06/2006(11) 09/05/2015 Common Stock 500,000 $ 0 500,000 D  
Phantom Stock Units (14) $ 0 (14) 02/24/2006   A   46,133 (14)   02/24/2006(14) 02/24/2009(14) Common Stock 46,133 (14) $ 0 46,133 (14) D  
Phantom Stock Units (12) $ 0 (12) 03/02/2004   A   64,190 (12)   03/02/2004(12) 03/02/2012(12) Common Stock 64,190 $ 0 64,190 (12) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
DRAKEMAN DONALD L
MEDAREX, INC.
707 STATE ROAD
PRINCETON, NJ 08540		   X     President & Chief Executive  

Signatures

 Donald L. Drakeman   03/03/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Represents shares previously contributed by Dr. Drakeman to a grantor retained annuity trust, which expired by its terms on December 30, 2005. Effective December 31, 2005, these shares were placed in two separate trusts for the benefit of Dr. Drakeman's children. Dr. Lisa N. Drakeman, Dr. Drakeman's spouse, is the trustee for said trusts and exercises voting and investment control over the shares held in such trusts. Dr. Drakeman disclaims beneficial ownership of all such shares.
(2) These shares were previously reported as directly beneficially owned, but were contributed to a grantor retained annuity trust on August 28, 2003.
(3) Options representing 100,000 shares vested on September 19,2002. The remaining options vested in 36 equal monthly installments beginning on October 19,2002.
(4) Options representing 75,000 shares vested on July 11, 2003. The remaining options vested in 36 equal monthly installments beginning on August 11, 2003.
(5) Options representing 26,750 shares vested on March 6, 2004. The remaining options vest in 36 equal monthly installments beginning on April 6, 2004.
(6) In addition to the options set forth above, Dr. Drakeman may be deemed to be the indirect beneficial owner of options covering an aggregate of 278,000 shares of Company common stock, which are owned by his wife. Dr. Drakeman disclaims beneficial ownership of all such securities.
(7) Options representing 125,000 shares vested on October 14, 2004. The remaining options vest in 36 equal monthly installments beginning November 14, 2004.
(8) In the Section 16 Electronic Reporting Frequently Asked Questions released by the SEC on May 1, 2003, the SEC has designated "08/08/1988" as a "dummy date" until the electronic system is modified. 08/08/1988 is not a transaction date related to these securities.
(9) Options representing 87,500 shares vested on July 26, 2005. The remaining options vest in 36 equal monthly installments beginning August 26, 2005.
(10) These shares were previously reported as directly beneficially owned, but were contributed to a grantor retained annuity trust on September 9, 2004.
(11) Options representing 125,000 shares vest on September 6, 2006. The remaining options vest in 36 equal monthly installments beginning October 6, 2006.
(12) Represents phantom stock units convertible into shares of the Company's common stock on a 1-for-1 basis. The phantom stock units are settled 100% in shares of the Company's common stock. These units were previously reported as being subject to settlement and distribution on March 2, 2007. On March 1, 2006, Dr. Drakeman elected to defer distribution of such phantom stock units from March 2, 2007 to March 2, 2012. Phantom stock units representing 40,744 shares vest immediately. The remaining phantom stock units vest in three equal annual installments beginning on March 2, 2005.
(13) Represents phantom stock units convertible into shares of the Company's common stock on a 1-for-1 basis. The phantom stock units are to be settled 100% in shares of the Company's common stock on February 8, 2008. Phantom stock units representing 55,380 shares vest immediately. The remaining phantom stock units vest in three equal annual installments beginning on February 8, 2006.
(14) Represents phantom stock units convertible into shares of the Company's common stock on a 1-for-1 basis. The phantom stock units are to be settled 100% in shares of the Company's common stock on February 24, 2009. Phantom stock units representing 28,833 shares vest immediately. The remaining phantom stock units vest in three equal annual installments beginning on February 24, 2007.

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