CHADDS FORD, Pa., Aug. 7, 2012 /PRNewswire/ -- Endo Health Solutions (Nasdaq: ENDP), announced today that its Board of Directors has authorized the company to repurchase up to $450 million of its common stock through March 2015.
The specific timing and number of shares repurchased will be determined by Endo management, at its discretion, and will vary based on market conditions, securities law limitations and other factors. The repurchases will be made using cash resources, and the program may be suspended or discontinued at any time with prior notice. The stock purchases may be made, from time to time, through a variety of methods including open market purchases, pre-set purchase programs, privately negotiated transactions and accelerated stock buyback agreements.
The company has terminated the existing $750 million stock repurchase program authorized in 2008. The remaining capacity, which as of June 30, 2012 was approximately $175 million, under the 2008 stock repurchase program has been released. As of Aug. 2, 2012, Endo had 116,892,155 shares of common stock outstanding.
Endo Health Solutions (Endo) is a US-based diversified healthcare company that is redefining healthcare value by finding solutions for the unmet needs of patients along care pathways for pain management, pelvic health, urology, endocrinology and oncology. Through our operating companies: AMS, Endo Pharmaceuticals, HealthTronics and Qualitest, Endo is dedicated to improving care through a combination of branded products, generics, devices, technology and services that creates maximum value for patients, providers and payers alike. Learn more at www.endo.com.
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SOURCE Endo Health Solutions Inc.