“The new share buyback authorization is consistent with our disciplined approach and demonstrates our continued commitment to using this tool as part of our capital allocation strategy," said Norman Schwartz, Bio-Rad’s Chief Executive Officer.

The Company previously announced on June 5, 2023, that it had completed the repurchase of all of its common stock authorized under the prior share repurchase program approved by the Company’s board of directors.

Repurchases under the new share repurchase program may be made at management's discretion from time to time on the open market or through privately negotiated transactions. The new share repurchase program has no time limit and may be suspended or discontinued at any time. Any shares acquired will be available for general corporate purposes, including supporting employee stock plans, funding acquisitions, and minimizing dilution from stock issuances.