Celgene Announces Additional $5B Share Repurchase Authorization
SUMMIT, N.J.--(BUSINESS WIRE)-- Celgene Corporation (NASDAQ: CELG) today announced the Company's Board of Directors authorized the repurchase of an additional $5 billion of the Company's common stock. This open-ended program is effective immediately. Purchases may be made in the open market or in privately negotiated transactions from time to time, as determined by Celgene's management and in accordance with the requirements of the Securities and Exchange Commission.
“Our capital allocation priorities and financial policy remain unchanged,” said Peter Kellogg, Executive Vice President and Chief Financial Officer. “Consistent with our past practices, we continue to focus on building and diversifying our portfolio of products that address significant, unmet patient needs while opportunistically returning excess capital to shareholders.”
Celgene Corporation, headquartered in Summit, New Jersey, is an integrated global biopharmaceutical company engaged primarily in the discovery, development and commercialization of innovative therapies for the treatment of cancer and inflammatory diseases through next-generation solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation. For more information, please visit www.celgene.com. Follow Celgene on Social Media: @Celgene, Pinterest, LinkedIn, Facebook and YouTube.
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Source: Celgene Corporation