(Bloomberg) — Eli Lilly & Co. (LLY) approved a program to buy back as much as $15 billion of its own shares amid rapid growth fueled in part by the blockbuster weight-loss drug Zepbound.
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The company also raised its quarterly dividend 15%, according to a statement Monday. The shares rose as much as 1.3% in late trading after the US markets closed.
The share repurchases may be made from time to time at management’s discretion, Lilly said.
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