Sanofi To Repurchase EUR 2 Bln Worth Of Shares

(RTTNews) - Sanofi (SNY), a French pharmaceutical and healthcare company, Friday announced that it is executing the second tranche of its share buyback program, to repurchase up to 2 billion euros worth shares. Sanofi has signed a mandate with an investment service provider for the second tranche. Under the deal, the company will repurchase shares between February 7, and December 31.

Sanofi on January 30 had announced that it plans to buy back 5 billion euros worth of shares in 2025.

The first tranche of the program was announced on February 3, and completed on February 5, with a 3 billion euros off-market block trade with long-time shareholder L'Oréal S.A.

Wednesday, the stock had closed at $52.87, 63 cents lesser on the Nasdaq. In the after-market hours, the stock traded 13 cents higher before ending the trade at $53.