May 28, 2009 (FinancialWire) — Valeant Pharmaceuticals International’s (NYSE: VRX) board has authorized the repurchase of an additional $300 million of its outstanding convertible debt or common stock under a securities repurchase program approved in October 2008.

This repurchase authorization raises the aggregate repurchase authorization to $500 million from $200 million over a period ending May 2011. To date, the company has repurchased $139 million in total of its convertible debt and its common stock out of the $500 million authorized under the securities repurchase program.

Aliso Viejo, California-based Valeant Pharmaceuticals International is a specialty pharmaceutical company that develops, manufactures and markets a range of products primarily in the areas of neurology and dermatology.

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