Cash, Cash Equivalents, and Marketable Securities
Operating cash flow was $947 million for the first six months of 2012, an increase of 29 percent compared to 2011. Under our authorized stock repurchase program, we purchased approximately 8.1 million shares during the second quarter of 2012 at a total cost of approximately $558 million. As of June 30, 2012, we had $3,161 million remaining under the existing stock repurchase program that includes the additional $2,500 million authorization that the Board of Directors approved in mid-June. During the second quarter of 2012, we made upfront payments to Epizyme and Inhibrx totaling $75 million related to the formation of strategic collaborations with both companies. We ended the second quarter with $2,562 million in cash and marketable securities.
Key Accomplishments During the First Half of 2012
- Submitted the REVLIMID marketing application for myelodysplastic syndromes (MDS) deletion 5q to the European Medicines Agency (EMA).
- Submitted the pomalidomide marketing applications for relapsed refractory multiple myeloma (RRMM) to the Food and Drug Administration (FDA) and EMA.
- Completed enrollment in the phase III pomalidomide trial (MF-002) for myelofibrosis.
- Publication in the New England Journal of Medicine of three phase III REVLIMID trials in newly diagnosed multiple myeloma (MM-015, IFM 2005-02, and CALGB 100104) .
- Completed enrollment in the ABRAXANE phase III trial in metastatic pancreatic cancer.
- Publication of the phase III ABRAXANE non-small cell lung cancer trial in the Journal of Clinical Oncology.
- Reported the phase III apremilast trial in psoriatic arthritis (PALACE-1) achieved its primary endpoint and key secondary endpoints.
- Initiated phase III apremilast trial for ankylosing spondylitis (POSTURE).
- Publications of the phase II apremilast psoriatic arthritis trial (PSA-001) in the journal Arthritis & Rheumatism and the phase II psoriasis trial (PSOR-005) in the Lancet.
- Phase III data with pomalidomide in relapsed refractory multiple myeloma (MM-003).
- Phase III data with pomalidomide in myelofibrosis (MF-002).
- Pivotal phase II data with REVLIMID in relapsed refractory mantle cell lymphoma (EMERGE).
- Data from the phase II portion of the phase II/III REVLIMID trial in diffuse large B cell non-Hodgkin’s lymphoma (DLC-001).
- Initiate phase III trial with CC-486 (oral azacitidine) in MDS.
- Committee for Medicinal Products for Human Use (CHMP) decision on REVLIMID for MDS deletion 5q.
- REVLIMID approval for relapsed refractory multiple myeloma in Brazil and China.
- Complete enrollment in phase III REVLIMID trial in chronic lymphocytic leukemia (ORIGIN / CLL-008).
- Phase III ABRAXANE data in melanoma.
- Phase III ABRAXANE data in metastatic pancreatic cancer.
- Receive FDA decision on ABRAXANE for non-small cell lung cancer.
- Phase III apremilast data in psoriatic arthritis (PALACE-2 and PALACE-3).
- Phase III apremilast data in psoriasis (ESTEEM-1).
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV