Valeant authorizes $100 million stock repurchase

The board of directors at Southern California's Valeant Pharmaceuticals International approved a $100 million repurchase of its outstanding common stock as part of its 2007 stock repurchase program. 

In a company press release, Valeant's chairperson and CEO J. Michael Pearson said, "The board's authorization of the additional $100 million to the share repurchase program underscores its continued confidence in our strategy and our commitment to enhancing shareholder value." The repurchase will bring the total authorized amount to $300 million. The board approved the first $200 million last June. 

- See Valeant's release
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