Alere Inc. Announces $50M Stock Repurchase

Alere Inc. ALR announced today that its Board of Directors has authorized the initial repurchase of up to $50 million worth of its common or preferred stock from time to time. Alere's senior secured credit agreement, as amended, permits aggregate stock repurchases of up to $200 million, and financial covenants under the indentures governing Alere's outstanding senior and senior subordinated notes would currently allow aggregate stock repurchases of up to approximately $140 million.