Biogen (BIIB) Approves $5B Common Stock Buyback Plan

Biogen (NASDAQ: BIIB) announced that its Board of Directors has authorized a program to repurchase up to $5 billion of the Company’s common stock. The share repurchase program does not have an expiration date. Biogen currently expects that purchases will be executed within a period of up to five years. The repurchased shares will be retired.

This share repurchase program is in addition to the approximately 1.3 million shares remaining under Biogen's February 2011 share repurchase program, which has been used principally to offset common stock issuances under the Company's share-based compensation plans.

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