Summit-based life sciences company Celgene Corp. announced today it is repurchasing $600 million in shares of its common stock through an accelerated repurchase agreement with an investment bank.
The agreement is part of an ongoing program to repurchase shares of its stock. Year to date, Celgene has repurchased approximately $385 million of its common stock, and has approximately $1.45 billion remaining in the existing program, according to a news release.
The name of the investment bank was not disclosed.
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