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Myriad Board OKs $200M Share Repurchase Program

NEW YORK (GenomeWeb) – Myriad Genetics announced after the close of the market Tuesday that its board of directors has approved an additional $200 million authorization for the firm's share repurchase program.

The company's previous share repurchase program began in 2010, and since then Myriad has repurchased nearly $1 billion of its stock. The repurchases are made via the open market or through privately negotiated purchases.

"Since the inception of the program we have repurchased over 38 million shares of our stock and we will continue to opportunistically repurchase shares at valuation thresholds that we believe do not reflect the long-term value of the Company and its product pipeline," Myriad Genetics CFO Bryan Riggsbee said in a statement.