Quest Diagnostics board increases share repurchase authorization by $250M

Quest Diagnostics Incorporated (NYSE: DGX), the world's leading provider of diagnostic testing, information and services, announced that its Board of Directors increased the company's share repurchase authorization by $250 million.

During the first three quarters of 2010, the company repurchased approximately 15 million shares of common stock for $750 million, fully utilizing its previous authorization, which was granted in January, 2010. The company had approximately 170 million shares outstanding as of September 30, 2010.

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