Pfizer To Buyback $5 Billion Of Its Common Stock

Pfizer Inc. has agreed to buyback $5 billion of its common stock as part of an accelerated repurchase program, the company said early Friday. The about 126 million shares will be received on Feb. 6. The buyback agreement was made with Citibank and is part of Pfizer's existing share repurchase authorization, the company said. Pfizer shares were up 0.7% in pre-market trade Friday. Shares have risen 6.2% over the last three months, compared with a 9.2% rise in the S&P 500 .