Valeant OKs $1.8B Securities Buyback Plan

Multinational specialty pharmaceutical company Valeant PharmaceuticalsInternational has approved an increase of $300 million in its program to repurchase shares, senior notes and other securities. The addition increases its buyback program to about $1.8 billion.

The securities repurchase program will terminate on November 7. Until now, the company has purchased 14.969 million of its common shares for aggregate consideration of $590.6 million and a total of $302.5 million principal amount of its 5.375% convertible notes for aggregate consideration of $806.3 million.

Click here for the release from PR Newswire.