Merck signs $5 billion share buyback agreement with Goldman Sachs

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A view of the Merck & Co. campus in Linden, New Jersey(Reuters) – Merck & Co Inc said it has entered into a $5 billion share repurchase agreement with Goldman Sachs Group Inc, as the drug giant looks to prop up shareholder value in face of stiff competition from makers of less-costly generics. Under the accelerated share repurchase agreement (ASR), Merck has agreed to repurchase about 99.5 million shares from Goldman Sachs based on current market prices. …

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