VRX buys back $500 million

Yahoo finance)
ALISO VIEJO, Calif., March 30 -- Valeant Pharmaceuticals International (NYSE:VRX - News) announced today that its board of directors has authorized the repurchase of up to an additional $500 million of its securities, including its outstanding senior notes, convertible debt or common stock under the securities repurchase program approved in October 2008 and increased in May 2009. This repurchase authorization raises the aggregate repurchase authorization to $1.0 billion from $500 million over a period ending in March 2013. To date, the Company has repurchased approximately $415 million in total of its convertible debt and its common stock out of the $1.0 billionnow authorized under the securities repurchase program.