Amgen to Buy Back Stock.Amgen Inc. said its board gave permission to buy back as much as $2 billion in stock over the next two years. The world's largest biotech bi·o·tech n. Informal Biotechnology. biotech Noun short for biotechnology Noun 1. company also said that Kevin Sharer, its chief executive and president, will take on the additional title of chairman as of Jan. 1, succeeding Gordon Binder Gordon Binder is currently managing director of Coastview Capital, LLC, and previously was chairman of Amgen[1]. He joined Amgen in 1982, and previously had executive roles at the United Geophysical Corporation and the System Development Corporation. . The buyback Buyback The buying back of outstanding shares (repurchase) by a company in order to reduce the number of shares on the market. Companies will buyback shares either to increase the value of shares still available (reducing supply), or to eliminate any threats by shareholders who may comes amid a 52 percent rise in Amgen's stock price over the past 12 months. Sharer is preparing the Thousand Oaks-based company to introduce four new drugs over the next two years, including a new version of its Epogen anemia anemia (ənē`mēə), condition in which the concentration of hemoglobin in the circulating blood is below normal. Such a condition is caused by a deficient number of erythrocytes (red blood cells), an abnormally low level of hemoglobin drug that investors say could drive future revenue and profit. |
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