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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| AbbVie Inc | NYSE:ABBV | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 2.98 | 1.85% | 163.79 | 164.25 | 160.74 | 161.85 | 5,850,104 | 01:00:00 |
From May 2019 to May 2024
AbbVie Inc. on Wednesday said it would repurchase $5 billion in shares from Morgan Stanley, following the completion of its Pharmacyclics Inc. acquisition.
In March, the Chicago pharmaceutical company unveiled plans to buy blood cancer-focused Pharmacyclics for about $21 billion--a deal it completed Tuesday. AbbVie had said it would execute an accelerated share-repurchase program to buy back at least half of the equity issued in the transaction promptly after the closing. The company in March lifted its share-repurchase authorization to $10 billion from $5 billion.
Morgan Stanley is expected to make an initial delivery of 68 million shares Wednesday.
Earlier this month, AbbVie sold $16.7 billion in new bonds to help finance the Pharmacyclics deal, marking one of the largest corporate bond deals of the year.
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com
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