NEW YORK (GenomeWeb News) – Waters today said that its board of directors has authorized the firm to repurchase up to $500 million of its outstanding common stock over the next 24 months.

The firm's previous $500 million share repurchase program, which began in February 2007, had recently expired. Waters said that that repurchase program was "substantially completed."

It said that it would make purchases of its shares through open-market transactions.

Waters' shares were trading down 1 percent at $34.70 in early Monday trade on the New York Stock Exchange.