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Buyback Band-Aid

Why some buysiders believe Celgene’s cash is better spent on BD than buybacks

A $3 billion expansion of its share buyback program won’t help Celgene Corp. (NASDAQ:CELG) address the long-term pipeline problems that concern a trio of buysiders, who would rather see the big biotech put the spending toward padding its pipeline.

On Thursday, Celgene said its board authorized a share repurchase program for

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