A Medical Device Daily
IMS Health (Fairfield, Connecticut) said its board of directors has authorized the company to buy up to 10 million IMS shares under a new stock repurchase program. The company has about 6 million shares remaining for repurchase under a previous board authorization.
“Our business and cash flow continue to be strong,” said Leslye Katz, acting CFO. “This authorization gives us the flexibility to continue our share repurchase activity.”
IMS anticipates that the shares will be acquired in privately negotiated transactions or in open-market purchases in compliance with Securities and Exchange Commission Rule 10b-18.
IMS provides market intelligence to the pharmaceutical and health care industries.