Gilead already has a buyback program in place and $12 billion in cash on hand. They don't even really need to float a bond to do this.
RBC commented that the company could start a $10 billion accelerated buy back soon. 95% of the companies 1.5 billion shares are held by institutions. They will not sell into a buyback program like this.
That means the shares bought would come from retail, or the remaining 5%. That's stock worth about $7.5 billion at $100 per share. At $133, the $10 billion would be fully applied to the entire retail float.
Chess, That is an excellent idea. Most of us that attended last time realize that we will be talking to the worker bees in Congress. Some of them have no financial background. We are there to educate.
Saw that on twitter
Wondering if this is coming soon
Restoring the nation’s rule of law could start with Iowa $FNMA $FMCC
Restoring the nation’s rule of law could start with Iowa case
Timothy J. Pagliara10:32 p.m. CST December 21, 2014
As amazing as it sounds, a lawsuit is making its way through the U.S. Southern District of Iowa that has the potential to affect the housing market, which is nearly 20 percent of our country’s total economy. To say this case could have a long-lasting and significant impact on our nation is an understatement.
In the immediate aftermath of the 2008 financial crisis, the government provided Fannie Mae and Freddie Mac a loan to help stabilize the housing industry. These loans allowed the government sponsored enterprises (GSEs) to continue functioning. Fannie and Freddie have now paid back the original loan of $181 billion and have sent an excess payment of roughly $200 billion to the government.
This excess is due to the net worth sweep placed on the GSEs by an agreement struck by one government agency with a second — the Federal Housing Finance Agency (FHFA) and the U.S. Treasury Department. The agreement froze any payment of dividends to existing shareholders and swept them into the Treasury’s pockets indefinitely. This agreement was made in August of 2012 as the GSEs were beginning to become profitable and projected to make billions in the coming months. Now, these funds due to shareholders are instead being used to pay down the deficit.
The illegal confiscation of shareholder dividends and the violation of our rights is why I founded Investors Unite, a coalition that advocates for shareholder rights. Our more than 1,400 members include parents who have invested for their children’s education, factory workers who are saving for retir...
investorsunite dot org/discussion/topic/restoring-the-nations-rule-of-law-could-start-with-iowa-case/
"Express Scripts said its independent Pharmacy & Therapeutics Committee determined AbbVie's Viekira Pak to be "at least clinically equivalent" to Harvoni and Sovaldi, and that it would make the therapy the exclusive option for genotype 1 patients with hepatitis C on its National Preferred Formulary, which covers about 25 million Americans."
25 million is about 8% of the US population.
GILEAD has already locked in the VA with pricing and that is a much bigger market.
What percentage of sales did GILD just lose?
This doesn't affect their agreement with VA or France, which they have locked down tight.
BTW, if I was told to take ABBV's product and I didn't have GT1B, I might sue.