March 31, 2010 (FinancialWire) — Valeant Pharmaceuticals International’s (NYSE: VRX) 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 a securities repurchase program approved in October 2008 and increased in May 2009.

The repurchase authorization raises the aggregate repurchase authorization to $1 billion from $500 million over a period ending in March 2013.

To date, the company has repurchased around $415 million in total of its convertible debt and its common stock out of the $1.0 billion now authorized under the securities repurchase program.

California-based Valeant Pharmaceuticals 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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