Biogen Inc said on Monday it would buy back shares worth $5 billion, days after ...
FILE PHOTO: A sign marks a Biogen facility in Cambridge, Massachusetts, U.S. January 26, 2017. REUTERS/Brian Snyder/File Photo
- Biogen Inc said on Monday it would buy back shares worth $5 billion, days after its stock slumped on the drugmaker’s announcement to end two Alzheimer’s disease trials. Biogen had lost more than $18 billion of its value last week after the company and partner Eisai Co Ltd ended two late-stage trials of their experimental Alzheimer’s disease treatment, aducanumab.
Biogen shares, which lost 32.4 percent of their value since the company’s announcement on Thursday to scrap the trials, were up 1.5 percent before the opening bell on Monday. The share buyback is in addition to the approximately $1.7 billion remaining under the stock repurchase program authorized by its board in August 2018, the company said in a regulatory filing
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biogen announces $5 billion buyback days after shelving Alzheimer's trialsBiogen said on Monday it would buy back shares worth $5 billion, days after its stock slumped on the drugmaker's announcement to end two Alzheimer's disease trials.
Read more »
Biogen scraps two Alzheimer drug trials, wipes $18 billion from market valueBiogen Inc and partner Eisai Co Ltd are ending two late-stage trials of their ex...
Read more »
Biogen scraps Alzheimer drug trials, shares slump by a quarterBiogen and partner Eisai Co Ltd are ending two late-stage trials testing the exp...
Read more »
Biogen scraps Alzheimer drug trials, wiping $17 billion off its market valueReuters - Biogen and partner Eisai Co Ltd are ending two late-stage trials for t...
Read more »
Comcast just announced a $5-a-month streaming service called 'Flex'Xfinity Flex will give customers the ability to integrate other streaming services they pay for on one device.
Read more »
Restaurant Brands CEO: Burger King's $5 coffee subscription will help it win the breakfast warsFor Burger King, its new $5 monthly coffee subscription is a way to get customers into their stores in the morning to check out their other breakfast offerings, Restaurant Brands CEO Jose Cil said.
Read more »
WPP would win most from $5 bln data-business saleBuyout groups Advent and Blackstone are circling the ad group’s market-research unit Kantar, Reuters reported. Private-equity buyers could hike margins and combine it with a rival. WPP’s wad of cash and retained access to its consumers’ data sounds more enticing, though.
Read more »
Indonesian airline cancels $5 billion order for 49 Boeing 737 Max jetsGaruda Indonesia airline said the decision to cancel the multibillion-dollar order was due to fears “its business would be damaged due to customer alarm over the crashes.”
Read more »
Autonomy founder Lynch set for $5 billion Hewlett-Packard court showdownMike Lynch, once hailed as Britain's answer to Bill Gates, faces Hewlett-Pa...
Read more »
Autonomy founder Lynch set for $5 billion Hewlett-Packard court showdownThe U.S. firm bought Autonomy for $11 billion in 2011.
Read more »