A Medical Device Daily

Chemed (Cincinnati) reported that its board of directors has formally authorized the establishment of a $50 million ongoing share repurchase program.

In addition, the company said it intends to fully utilize the remaining $8 million from its February 2000 share repurchase program.

These share repurchases, it noted, will be funded through a combination of cash generated from operations as well as utilization of its revolving credit facility. The timing and the amount of any repurchase of shares will be determined by company management based on its evaluation of market conditions and other factors.

One of Chemed's wholly owned subsidiaries is Vita Healthcare (Miami), a provider of end-of-life hospice care.

Simulations Plus (Lancaster, Pennsylvania), a provider of simulation and modeling software for pharmaceutical discovery and development, released a statement reminding shareholders that the 2-for-1 stock split declared by the board of directors has now taken effect and as of Monday, the company's common stock is trading at the post-split price.

Simulations Plus is a developer of drug discovery and development simulation software, which is licensed to and used in the conduct of drug research by pharmaceutical and biotechnology companies worldwide.