Bristol Myers Squibb (NYSE: BMY) has upsized its stock buyback program by 45%. The company announced on Monday that its board of directors has authorized an additional $2 billion in such repurchases. This brings the total amount authorized under the initiative to roughly $6.4 billion.
As is typical with such announcements, Bristol Myers added a caveat: “The timing and amount of any share repurchases under the authorization will be determined by management at its discretion and based on market conditions and other considerations.” It also cautioned that the program could be canceled or suspended at any time.
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