07.05.2015 23:15:00
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Biogen Announces $5 Billion Share Repurchase Program
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.
This share repurchase program is in addition to the approximately 1.3 million shares remaining under Biogen's February 2011 share repurchase program, which has been used principally to offset common stock issuances under the Company's share-based compensation plans.
About Biogen
Through cutting-edge science and medicine,
Biogen discovers, develops and delivers to patients worldwide innovative
therapies for the treatment of neurodegenerative diseases, hematologic
conditions and autoimmune disorders. Founded in 1978, Biogen is one of
the world’s oldest independent biotechnology companies and patients
worldwide benefit from its leading multiple sclerosis and innovative
hemophilia therapies. For product labeling, press releases and
additional information about the company, please visit www.biogen.com.
Safe Harbor
This press release contains forward-looking
statements, including statements regarding the expected time period to
execute repurchases of our common stock and the retirement of the
repurchased shares. These statements involve risks and uncertainties
that could cause actual expectations and results to differ materially
from those reflected in such statements, including our ability to effect
repurchases under the share repurchase program due to changes in our
stock price, corporate or other economic or market conditions, the
nature of other investment opportunities we may have from time to time
and other risks and uncertainties that are described in the Risk Factors
section of our most recent annual or quarterly report and in other
reports we have filed with the SEC. These statements are based on our
current beliefs and expectations as of the date of this press release.
We do not undertake any obligation to publicly update any
forward-looking statements.
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Biogen Inc | 133,00 | 0,53% |
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