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Biotech / Medical : Biotech Valuation

CRSP 55.28

+5.3%

Nov 17 3:59 PM EST

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To: Biomaven who wrote (6539)	6/12/2002 6:36:28 PM
From: Biomaven	Read Replies (1) of 52153

As I said here just yesterday: Some repurchases by the first-tier biotechs would probably be a good thing here. AMGN has done this for years to good effect. Guess they must be reading this thread as well: <g> Wednesday June 12, 5:10 pm Eastern Time Press Release SOURCE: Amgen Amgen Announces $2 Billion Stock Repurchase Plan THOUSAND OAKS, Calif., June 12 /PRNewswire-FirstCall/ -- Amgen (Nasdaq: AMGN - News), the world's largest biotechnology company, today announced that its Board of Directors has authorized an additional repurchase of up to $2 billion in Amgen common stock through June 30, 2004. The company has approximately $260 million remaining under a previous stock repurchase program. In 2002, Amgen has repurchased 18.4 million shares or approximately $1 billion of its common stock. "The current valuation of Amgen stock makes repurchases of Amgen stock a solid investment and represents an attractive opportunity to enhance long-term shareholder value," said Kevin Sharer, Amgen's Chairman and Chief Executive Officer. Stock is up in after-hours. Peter

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