FOSTER CITY, Calif.--(BUSINESS WIRE)--Gilead Sciences, Inc. (Nasdaq:GILD) today announced that it has completed the $1.0 billion stock repurchase program that was authorized by its Board of Directors in March 2006. Under the buyback program, Gilead acquired approximately 8.4 million shares of its common stock at an average price of $65.13 per share, representing a total of $544.9 million, in connection with a $1.3 billion convertible notes offering completed in April 2006 and subsequently used the remaining $455.1 million to acquire approximately 5.6 million shares of common stock at an average price of $81.02 per share. Upon completion of the stock repurchase program on June 18, 2007, the company had approximately 468,090,700 shares outstanding, excluding stock options and unvested restricted shares.
