Last 2 quarters, GILEAD spent about $7B in buyback about 50 million shares at average of about $109. If GILD hadn't bought back the shares it may trade now at 70 or less and Gilead could have retired almost 100 million shares with the same amount spent. Anyway GILD lost about 1.5B in buyback. The saddest thing is that the total number of shares outstanding remains almost the same in spite of such a large buyback. As you guessed that many new shares were issued as option to the management and convertibles.
Will MERK give Hep C drugs for free? Some scientist found a cure AIDS? Did GILD lost a patent to Harvoni? Did someone stole $20B cash from Gild account? What happened? I found only good news Gild can cure all gen types of Hep C. Found a better AIDS drug with less side effects. Zydelic is more effective than expected. GILD earn $12.29 in 2015 more than 30% above initially predicted in January ,2015. Are these so bad that the stock drop 20%