Pfizer Inc. (PFE) Approves $10 Billion Share Share-Buyback Plan
6/28/2013 7:18:51 AM
Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!
Pfizer Inc. (PFE), the world’s biggest drugmaker, said it will buy back $10 billion in stock after earlier this week announcing it will retire about $11.4 billion in shares through the spinoff of its animal-health unit. The buyback is the fourth major share repurchase program for New York-based Pfizer in the past 2 1/2 years. During that time, the company has announced $39 billion in share buybacks, including today’s. Pfizer has $3.9 billion left on its current repurchase program, the company said today in a statement. Ian Read, Pfizer’s chief executive officer, has said that share repurchases are the best uses of Pfizer’s cash, compared with acquisitions or increasing the dividend.
Help employers find you! Check out all the jobs and post your resume.
comments powered by