Johnson & Johnson Plans $10 Billion Share Repurchase Program

Johnson & Johnson, the world’s biggest maker of health-care products, said its board approved a plan to buy back as much as $10 billion in shares, double the amount it budgeted last year.

The company will finance the repurchases with debt, New Brunswick, New Jersey-based J&J said in a statement on Tuesday. The repurchase program has no time limit, and J&J had $34 billion in cash, equivalents and short-term investments at the end of June, leaving plenty of room for acquisitions.