Allergan: $2 Billion Share Buybacks Confirm Growth Is Dead


Monday morning Allergan announced it had authorized a $2 billion share repurchase program and reaffirmed its Q3 2017 revenue projections: Allergan plc today announced that the Company's Board of Directors has authorized a new $2 billion share repurchase program, and has affirmed its commitment to increasing its regular quarterly cash dividend annually for shareholders as part of the Company's capital allocation strategy ... As part of its commitment to maintaining investment grade credit ratings, the Company also reaffirms its commitment to pay down $3.75 billion of debt in 2018. Per Reuters the company's CFO, Tessa Hilado, is also retiring.



from Biotech News