Quidel OKs $25M in Share Buybacks

Luke Timmerman12/8/09

San Diego-based Quidel (NASDAQ: QDEL), the maker of diagnostic tests for flu and other infectious diseases, said today its board has authorized the company to buy back an extra $25 million worth of its shares. The company was previously authorized to repurchase about $26 million worth of shares, and the board allowed extra buybacks to counter the dilutive effect of granting equity compensation to employees.

Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.