Valeant Pharma says may buy back securities worth up to $1.5 billion

Wed Jan 22, 2014 9:13am EST

(Reuters) - Valeant Pharmaceuticals International Inc (VRX.TO) (VRX.N), Canada's biggest publicly traded drugmaker, said it may buy back securities worth up to $1.5 billion.

The company said the buyback program, which commenced on November 22, would include repurchase of convertible notes, senior notes and common shares.

The program replaces the company's previous buyback program which expired on November 14, the company said in a statement.

(This story was corrected in headline and paragraph 1 to say the company may, not would, buy back up to $1.5 billion in securities)

(Reporting By Anannya Pramanick in Bangalore; Editing by Don Sebastian)