Myriad Announces New $200 Million Share Repurchase Program

Myriad Genetics, Inc. MYGN announced today that its Board of Directors has authorized a new $200 million stock repurchase program. "This announcement is the result of our commitment to a balanced capital deployment approach," said James Evans, Chief Financial Officer of Myriad Genetics, Inc. "Our strong financial flexibility allows us to invest for future growth, across multiple programs, including research and development on our current products and pipeline, the in-licensing of technologies and acquisitions, all while returning excess cash to shareholders though our share repurchase program." Repurchases under the $200 million authorization will be made through open market or privately negotiated purchases as determined by the Company's management. The amount and timing of the stock repurchases will depend on business and market conditions, stock price, trading restrictions, acquisition activity and other factors. As of June 30, 2011 the Company had more than $417 million of cash, cash equivalents, and marketable securities.