PFE (Pfizer) How high will it go? Message Board

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Biotech / Medical : PFE (Pfizer) How high will it go?

PFE 25.71

+1.9%

Nov 25 3:59 PM EST

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To: Anthony Wong who wrote (5624)	9/24/1998 2:53:00 PM
From: Sonki	Read Replies (2) of 9523

if the stock splits, will the buy back triple? assuming 3/1 spllit. Pfizer to buy back up to $5 bln in stock NEW YORK, Sept. 24 (Reuters) - Pharmaceuticals giant Pfizer Inc. said Thursday its board has authorized the repurchase of up to $5 billion of its common stock in the next two years. This is the fifth share buyback plan lunched by the company since 1991, Pfizer said in a news release. Under its most recent plan, it bought back about 26 million shares for $2 billion. Pfizer, maker of the drug Viagra for the treatment of male impotence, will buy shares from time to time in the open market or privately negotiated deals, it said. Repurchased shares will be used for general corporate purposes. ''These programs demonstrate our confidence in our commercially available products and research candidates,'' Pfizer chairman and chief executive officer William Steere said. Pfizer, with 1997 sales of about $12.5 billion, has 1.31 billion shares outstanding as of July 31. Company shares surged 1-13/16 to 108-3/8. They have traded in the range of 120-5/8 and 59-7/16 during the last 52 weeks. Market Capitalization $149.1B Shares Outstanding 1.40B Float 1.04B

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