NEW YORK (GenomeWeb News) – Thermo Fisher Scientific today said that its board of directors has approved the repurchase of $750 million of the firm's common stock on the open market or through negotiated transactions.
The firm said that the purchase authorization will remain in effect through Nov. 9, 2012. As of today, it has $25 million remaining under an existing share repurchase program.
Thermo Fisher officials said a few weeks ago on the firm's third-quarter conference call that the company had deployed $225 million to buy back 4 million shares of its stock during the quarter. In the first nine months of 2011, the company repurchased a total of 17.4 million shares for about $1 billion.