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Pfizer in $5 billion accelerated buyback deal with Goldman, Sachs & Co

    PFIZER
    22,6000+2,73%
    (Reuters) - Drugmaker Pfizer Inc said it entered into an agreement with Goldman, Sachs & Co to buy back $5 billion of its stock.

    PFIZER (PFE.NY)said the accelerated share repurchase was assumed in the forecast for the full year it provided last month.

    Under the agreement, which forms a part of Pfizer's existing buyback authorization, about 150 million shares will be bought.

    The settlement is expected during or prior to the third quarter.

    Shares of the New York-based company closed at $33.06 on the New York Stock Exchange on Monday.

    (Reporting by Anjali Rao Koppala in Bengaluru; Editing by Joyjeet Das)

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