Amgen announces $5B stock buy-back
Amgen, the world's largest biotechnology company, says that its board of directors has authorized additional buy-back of up to $5.0 billion in its common stock. The company currently has $2.0 billion remaining under its previous stock repurchase program. This new authorization reflects Amgen's confidence in its long-term prospect, the company notes.
The company's shares, which have traded in the $56.19-$86.92 range over the past year, moved $0.27 higher to $80.05 on the Nasdaq after the announcement on December 7.
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