Valeant (VRX) Announces $300 Million Increase to Securities Repurchase Program
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Valeant Pharmaceuticals International (NYSE: VRX) announced that its board of directors has authorized the repurchase of an additional $300 million of its outstanding convertible debt or common stock under the securities repurchase program approved in October 2008. This repurchase authorization raises the aggregate repurchase authorization to $500 million from $200 million over a period ending May 2011. To date, the Company has repurchased $139 million in total of its convertible debt and its common stock out of the $500 million authorized under the securities repurchase program.
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