Celgene: What Happened to the Buybacks?

There wasn’t much to complain about in Celgene (CELG) earnings report yesterday, which caused the biotech company’s shares to pop 6%. Bernstein’s Geoffrey Porges and Wen Shi point to Celgene’s declining buybacks: During the quarter the company purchased a relatively modest 2.8mm shares for $252mm, compared to $2.2bn in share buybacks in the first half [...]