Celgene Announces $5 Billion Share Repurchase Authorization

On February 14, Celgene Corporation (CELG) announced that the company’s Board of Directors authorized an additional $5 billion for share repurchases. The authorization is effective immediately for management to use at its discretion. Celgene is an integrated global biopharmaceutical company.

 

Sonal detected the event and sent an alert to subscribers at 7:30 am. The next trade was for $93 at 7:37 am. After an initial pre-market trading spike, the stock opened for regular market trading at $92.08. Celgene’s stock price trended higher throughout the day before closing at $94.39.

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