Celgene in additional $5 Billion share repurchase

Celgene Corporation has authorized the repurchase of an additional $5 billion of its common stock.

As the company noted, the 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.”