Bristol Myers Squibb, after massive Celgene takeover, plots $15B buyback plan

Heading into 2022, large drugmakers are said to have more than $1.7 trillion in their M&A war chests. But after a huge buyout of its own, Bristol Myers Squibb is unveiling another use for its cash—and it's one that pharma often faces criticism for.

Bristol Myers' board has blessed a staggering $15 billion bump to the company's stock buyback program, bringing the drugmaker's multi-year repurchase total up to some $15.2 billion, BMS said in a release.