After apparently abandoning its acquisition of London-based drugmaker AstraZeneca, biopharma conglomerate Pfizer announced a stock repurchase plan of $11 billion last week, in conjunction with a recent $1.3 billion share repurchase program. 

New York-based Pfizer has a market valuation of approximately $180 billion. The board of director’s indicated the fourth quarter dividend would be 26 cents on the company’s common stock, payable Dec. 2, 2014. 

Rumors have swirled about other potential acquisition targets by Pfizer ever since the AstraZeneca deal looked to be in jeopardy. Berenberg Bank speculated that the company might try to acquire UK-based GlaxoSmithKline. Other analysts speculated Pfizer might bid on Actavis

The AstraZeneca deal was a tax inversion deal, in which Pfizer would have acquired the company, then moved Pfizer headquarters to the U.K. in order to benefit from the country’s lower corporate tax rates. But the deal fell apart on news of the U.S. Treasury Department’s announced crackdown on these types of acquisitions.