By Colin Kellaher

Regeneron Pharmaceuticals Inc. (REGN) on Tuesday said its board authorized the repurchase of up to $1 billion of common stock.

The Tarrytown, N.Y., biotechnology company, which has about 108 million shares outstanding, sports a market capitalization of roughly $34 billion based on Monday's closing price of $311.04.

Regeneron said the buyback program has no time limit.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

November 05, 2019 08:10 ET (13:10 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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