(RTTNews) - Zealand Pharma A/S (ZEAL.CO, ZLDPF) announced on Thursday the launch of a share buyback program of up to $200 million, or DKK 1.3 billion.
The company said the program reflects its intention to return capital to shareholders while continuing to invest in its metabolic health pipeline and research capabilities.
The program will run from May 7 through October 31, unless terminated or completed earlier, and allows the repurchase of up to 7,152,557 shares on Nasdaq Copenhagen.
The company said the buyback program will support obligations related to share-based incentive programs and may also be used to reduce share capital through potential cancellation of repurchased shares.
The company reported a cash position of $2.3 billion, or DKK 14.5 billion, as of March 31.
The company expects to receive milestone payments totaling $700 million from Roche in 2026.
The payments include $575 million tied to the expected initiation of Phase 3 trials for petrelintide monotherapy in the second half of 2026, along with a $125 million anniversary payment in the second quarter.
On Wednesday, Zealand Pharma closed trading 3.18% higher at DKK 315.20 on the Copenhagen Stock Exchange.
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