Merck (MRK) Adds $15B to Buyback Program

Merck (NYSE: MRK) has authorized additional purchases of up to $15 billion of Merck’s common stock for its treasury. The company expects to repurchase approximately $7.5 billion of common stock over the next 12 months, financed through a combination of debt issuance and operating cash flows, with the remainder to be repurchased over time with no time limit. Purchases may be made in open-market transactions, block transactions on or off an exchange, or in privately negotiated transactions.

“This share repurchase program, combined with our strong dividend, reinforces our continued commitment to delivering increased value to shareholders,” said Kenneth C. Frazier, chairman and chief executive officer, Merck. “At the same time, we remain committed to maintaining a strong balance sheet and financial position that enables the company to invest in research and development and other growth-oriented opportunities. This action also reflects the board’s confidence in our long-term growth strategy and the company’s future performance.”

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