Celgene Announces Additional $2 Billion Share Repurchase Authorization

Celgene Corporation CELG announced the Company's Board of Directors has authorized the repurchase of up to an additional $2 billion of the Company's common stock. This open-ended program is effective immediately. Purchases may be made in the open market or in privately negotiated transactions from time to time, as determined by Celgene's management and in accordance with the requirements of the Securities and Exchange Commission. Celgene now has a total of approximately $2.25 billion remaining from previous authorizations plus the new authorization. Since 2009, Celgene has returned approximately $1.75 billion to shareholders through the repurchase of approximately 32 million of its shares. As of June 30, 2011, Celgene had 460,009,986 shares of common stock outstanding and $2.79 billion in cash and marketable securities.