Forest expands share repurchase program

New York, USA-based Forest Laboratories says that its board of directors has authorized an increase to the company's share repurchase program to 35 million shares of its common stock. The program, announced on May 18, 2006, initially authorized 25 million shares.

To date, Forest has repurchased around 16.3 million shares under the program, which has no set expiration date. The company expects to make additional repurchases, from time to time in the open market, depending upon market conditions.