Johnson & Johnson to Buy Back Shares Up to $10 Bln

Drugmaker Johnson & Johnson said it would buy back up to $10 billion of common stock over time.

The company said on Tuesday it had about 2.77 billion shares of common stock outstanding as of Sept. 27.

J&J is expected to report its third-quarter results on Tuesday before the markets open.

(Reporting by Vidya L Nathan in Bengaluru; Editing by Kirti Pandey)