We've got a pair of related tweets on this week's episode of Biotech Banter. The first is from Jason Napodano, an analyst at Zacks, who asks, "Does anyone actually finish a share buyback in biotech, or do they just announced another one after they get half way through the previous one?"

And then a second one from EP Vantage's Jacob Plieth, who comments, "Here we go-another slap in the face of the small biotech M&A thesis."

Both are referring to Gilead Sciences' (NASDAQ:GILD) recent announcement that its board had approved a $5 billion stock buyback. That's on top of the $2.9 billion remaining from the last $5 billion buyback.

In the video below, senior biotech specialist Brian Orelli and health-care analyst David Williamson debate whether it's better for large biotechs such as Gilead, Celgene (NASDAQ:CELG), and Biogen Idec (NASDAQ:BIIB), to buy back shares, use the cash to purchase companies to bolster their pipelines, or to follow Amgen's (NASDAQ:AMGN) lead and return cash to investors in the form of a dividend.

Brian Orelli and David Williamson have no position in any stocks mentioned. The Motley Fool recommends Celgene and Gilead. The Motley Fool owns shares of Gilead. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.