Vertex Pharma Board Authorizes $500 Mln Share Repurchase Program - Quick Facts

(RTTNews) - Vertex Pharmaceuticals Incorporated (VRTX) announced that its Board has authorized a share repurchase program of up to $500 million of common stock through December 31, 2019. The repurchase program is expected to be executed over two years with the primary objective of reducing the impact of dilution from employee equity programs.

The company said the purchases may be made through the open market or privately negotiated transactions and may be made pursuant to Rule 10b5-1 plans or other means as determined by Vertex's management and in accordance with the requirements of the SEC.