(Bloomberg) — Eli Lilly & Co. approved a program to buy back as much as $15 billion of its own stock amid rapid growth fueled in part by the successful weight-loss drug Zepbound.
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The company also increased its quarterly dividend by 15%, according to a statement Monday. Shares rose as much as 1.3% in late trading after U.S. markets closed.
Share repurchases may occur from time to time at the discretion of management, Lilly said.
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