Genentech extends buyback program |
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Fri, 20 Apr 2007 21:58
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SOUTH SAN FRANCISCO, Calif. (AP) - Biotechnology company Genentech Inc. said Friday its board of directors extended the company's buyback program to $8 billion.The extension, through June 30, 2008, marks a $2 billion increase from the previous amount of $6 billion. The company bought back about 67 million shares, or $4.8 billion worth, as of March 31.Shares of Genentech rose 5 cents to close at $83.32 on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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