Celgene Corp. authorized an additional $3 billion stock buyback program on Wednesday, in an open-ended program effective immediately. This brings the value of the company’s total outstanding shares available for repurchase to $5.3 billion. Since 2009, Celgene has repurchased roughly $15.2 billion worth of shares in similar programs. Shares of Celgene rose 1.2% to $102.21 in premarket trade. They are up more than 3% over the last three months, slightly outperforming the S&P 500.
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