Biogen Buyback
OLI recorded this information on 5/8/2015
Company:
Biogen
Buyback:
BIIB buyback
$Amount Authorized:
$5,000,000,000
Buyback Details:
Biogen (NASDAQ:BIIB) today announced that its Board of Directors has authorized a program to repurchase up to $5 billion of the Company's common stock. The share repurchase program does not have an expiration date. Biogen currently expects that purchases will be executed within a period of up to five years. The repurchased shares will be retired.
Biogen is a biopharmaceutical company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases as well as related therapeutic adjacencies. Co. has a portfolio of medicines to treat multiple sclerosis (MS), spinal muscular atrophy (SMA) and Alzheimer's disease. Co. also commercialize biosimilars of biologics and focuses on improving its pipeline in neuroscience and immunology. Co.'s marketed products include TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for the treatment of MS; SPINRAZA for the treatment of SMA; ADUHELM for the treatment of Alzheimer's disease; and FUMADERM for the treatment of severe plaque psoriasis.
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Buy (3.30 out of 4) 45th percentile
(ranked lower than approx. 55% of all stocks covered)
Analysts' Target Price: BIIB Stock Forecast Based on Zacks ABR data; powered by Xignite |