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Purchased Under
−Removed: Our Programs ($ in millions)
+Added: ($ in millions)
October 2022 — $ — — $ 2,050.0
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Our 2020 Share Repurchase Program does not have an expiration date.
−Removed: All share repurchases under our 2020 Share Repurchase Program will be retired.
−Removed: Under our 2020 Share Repurchase Program, we repurchased and retired approximately 6.0 million and 1.6 million shares of our common stock at a cost of approximately $1.8 billion and $400.0 million during the years ended December 31, 2021 and 2020, respectively.
+Added: All share repurchases under our 2020 Share Repurc hase Program will be retired.
+Added: Under our 2020 Share Repurchase Program, we repurchased and retired approximately 3.6 million, 6.0 million and 1.6 million shares of our common stock at a cost of approximately $750.0 million, $1.8 billion and $400.0 million during the years ended December 31, 2022, 2021 and 2020 , respectively.
Approximately $2.1 billion remained available under our 2020 Share Repurchase Program as of December 31, 2022.
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All shares repurchased under our March 2019 Share Repurchase Program were retired.
−Removed: Under our March 2019 Share Repurchase Program, we repurchased and retired approximately 4.1 million and 14.7 million shares of our common stock at a cost of approximately $1.3 billion and $3.7 billion during the years ended December 31, 2020 and 2019, respectively.
−Removed: In August 2018 our Board of Directors authorized a program to repurchase up to $3.5 billion of our common stock (2018 Share Repurchase Program), which was completed as of June 30, 2019.
−Removed: All share repurchases under our 2018 Share Repurchase Program were retired.
−Removed: Under our 2018 Share Repurchase Program, we repurchased and retired approximately 8.9 million shares of our common stock at a cost of approximately $2.1 billion during the year ended December 31, 2019.
−Removed: T a ble of Content s
+Added: Under our March 2019 Share Repurchase Program, we repurchased and retired approximately 4.1 million shares of our common stock at a cost of approximately $1.3 billion during the year ended December 31, 2020.
+Added: In August 2022 the IRA was signed into law.
+Added: Among other things, the IRA levies a 1.0% excise tax on net stock repurchases after December 31, 2022.
+Added: Historically, we have made discretionary share repurchases.
+Added: Table of Conten ts
Performance Graph
The performance graph below compares the five-year cumulative total stockholder return on our common stock, the Nasdaq Pharmaceutical Index, the S&P 500 Index and the Nasdaq Biotechnology Index.
−Removed: On February 1, 2017, we completed the spin-off of our hemophilia business, Bioverativ Inc.
−Removed: (Bioverativ), as an independent, publicly traded company.
−Removed: In connection with the spin-off, each Biogen shareholder received one share of Bioverativ common stock for every two shares of Biogen common stock they owned.
−Removed: For additional information on the spin-off of our hemophilia business, please read Note 3, Hemophilia Spin-Off , to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2018.
The performance graph below assumes the investment of $100.00 on December 31, 2017, in our common stock and each of the three indexes, with dividends being reinvested.
−Removed: Our stock prices have been adjusted for the effect of the spin-off of our hemophilia business.
−Removed: The five-year cumulative total stockholder return for Biogen does not reflect the reinvestment by Biogen shareholders of the distribution they received in connection with the spin-off of our hemophilia business or any subsequent increase or decrease in value of Bioverativ stock subsequent to the spin-off.
The stock price performance in the graph below is not necessarily indicative of future price performance.
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The information included under the heading Performance Graph is “furnished” and not “filed” for purposes of Section 18 of the Securities Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed to be “soliciting material” subject to Regulation 14A or incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.
−Removed: T a ble of Content s
+Added: Table of Conten ts
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.