LARGO, Fla., Aug. 20 /PRNewswire-FirstCall/ -- GeoPharma, Inc. (the “Company”) announced today that its Board of Directors has authorized a share repurchase program, under which the Company may purchase up to 1,000,000 shares of the Company’s Common Shares from the open market.
“Our decision to repurchase shares is testament to our confidence in GeoPharma’s strong financial position and the significant visibility of our future operating results,” said GeoPharma’s Chief Executive Officer Mihir K. Taneja. “Combined with the continued successful execution of strategic initiatives designed to capitalize on both internal and external growth opportunities, we believe our capital allocation strategy reflects a balanced approach that will enhance shareholder value and further position the Company for long-term success.”
The timing and amount of any shares repurchased under the program will depend on a variety of factors, including: price, corporate and regulatory requirements, capital availability and other market conditions. The repurchase program may be suspended or discontinued at any time without prior notice.
About GeoPharma, Inc.
GeoPharma, Inc. is a rapidly growing pharmaceutical company specializing in the manufacturing and distribution of over-the-counter, nutritional, generic drug and functional food products. The company’s growth strategy is to capitalize on its manufacturing expertise to develop high margin generic or novel drugs for niche markets with high barriers to entry. GeoPharma’s competitive advantage lies in its ability to circumvent or overcome the challenges in these markets. For more about GeoPharma, Inc., go to our websites at www.geopharmainc.com, www.hoodiadexL10.com and www.onlineihp.com .
This press release may contain statements, which constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including those regarding the company and its subsidiaries’ expectations, intentions, strategies and beliefs pertaining to future performance. All statements contained herein are based upon information available to the company’s management as of the date hereof, and actual results may vary based upon future events, both within and without management’s control. Important factors that could cause such differences are described in the company’s periodic filings with the Securities and Exchange Commission.
GeoPharma, Inc.
CONTACT: Carol Dore-Falcone, VP-CFO of GeoPharma, Inc., +1-727-544-8866x244, cdf@onlineihp.com, or Investor relations, Zangani Investor Community,+1-908-788-9660 x625, office@zangani.com, for GeoPharma, Inc.