Johnson & Johnson (JNJ) said Monday its Board of Directors has approved a share repurchase program, authorizing the company to purchase up to $10 billion of the company's shares of common stock.
Any shares acquired will be available for general corporate purposes.
The company said it plans to finance the share repurchase program through a combination of available cash and debt.
Johnson & Johnson had about 2.9 billion shares of common stock outstanding as of April 29.
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