IQVIA Holdings Inc. (NYSE: IQV) announced its board of directors authorized the repurchase of an additional $2 billion of the company's common stock under its existing equity repurchase program, according to a company statement.

The authorization brings IQVIA's total remaining repurchase authorization to $3.2 billion. The Research Triangle Park, North Carolina-based company provides clinical research services, commercial insights and healthcare intelligence to life sciences and healthcare industries.

The repurchase program does not obligate IQVIA to buy back any specific amount of common stock and may be modified, extended, suspended or discontinued at any time. Management will determine the timing and amount of repurchases based on factors including the market price of IQVIA's common stock, corporate requirements and overall market conditions.

Stock purchases may be made through open market transactions at prevailing market prices, in block trades, or in privately negotiated transactions. The program does not have an expiration date.

IQVIA operates with approximately 93,000 employees in over 100 countries, focusing on accelerating the development and commercialization of medical treatments.