Shares of Allergan plc Ordinary Shares (NYSE:AGN) ended Wednesday session in red amid volatile trading. The shares closed down -11.64 points or -5.56% at $197.89 with 13.50 million shares getting traded. Post opening the session at $204.00, the shares hit an intraday low of $196.11 and an intraday high of $208.00 and the price vacillated in this range throughout the day. The company has a market cap of $82.62 billion and the numbers of outstanding shares have been calculated to be 395.95 million shares.
Allergan plc Ordinary Shares (AGN) recently declared that it has accomplished its initial $5 billion in share repurchases under its formerly declared share repurchase program, and its Board of Directors has approved the expansion of the share repurchase program and the initiation of a regular quarterly cash dividend for shareholders as part of the Company’s capital allocation strategy. This reflects the Company’s conviction in its business strategy and strong future cash flow position, allowing for periodic return of cash to shareholders through dividends and a noteworthyshare buyback program while maintaining investment grade ratings and continuing investment in stepping stone and accretive acquisitions.
Shares of Celgene Corporation (NASDAQ:CELG) ended Wednesday session in red amid volatile trading. The shares closed down -1.24 points or -1.19% at $102.85 with 3.43 million shares getting traded. Post opening the session at $103.90, the shares hit an intraday low of $102.80 and an intraday high of $104.89 and the price vacillated in this range throughout the day. The company has a market cap of $81.22 billion and the numbers of outstanding shares have been calculated to be 775.20 million shares.
Celgene Corporation (CELG) and IBM Watson Health (NYSE: IBM) recently declared a partnershipto co-develop IBM Watson for Patient Safety, a new offering that aims to enhance pharmacovigilance methods used to collect, assess, monitor, and report adverse drug reactions. The new offering will run on the Watson Health Cloud.
The partnershipwill combine Watson’s cognitive computing ability with Celgene’s deep history and experience in drug safety and risk administration in order to create an outcome- and evidence-based drug safety decision support system for life science companies. Watson’s cognitive computing engine continuously learns, so it is expected that Watson for Patient Safety will increasingly be able to assist identify potential drug safety signals.