Merck (MRK) Announces $10B Buyback

Merck (NYSE: MRK), known as MSD outside the United States and Canada, today announced that its board of directors has authorized additional purchases of up to $10 billion of Merck’s common stock for its treasury. The treasury stock purchase has no time limit and will be made over time in open-market transactions, block transactions on or off an exchange, or in privately negotiated transactions.

“The combination of this share repurchase program and our strong dividend reflects our ongoing commitment to returning cash and delivering value to shareholders,” said Kenneth C. Frazier, chairman and chief executive officer, Merck. “Today’s action reiterates our confidence in the company’s long-term business strategy and future prospects.”

With today’s announcement, the company’s total outstanding share repurchase authorization is now approximately $11.7 billion, which includes approximately $1.7 billion in authorized repurchases remaining under the program previously announced on May 1, 2013.

Merck continues to expect average diluted shares outstanding will be approximately 2.86 billion in 2015.

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