What changed
The Board authorized a program to repurchase up to $1.0 billion of common stock, with approximately $500 million expected by the end of 2026 and the balance during 2027. The program has no expiration date and may be modified, suspended or discontinued at any time. Separately, Executive Vice President and Chief Commercialization Officer Tolga Tanguler will depart in December 2026, with a written separation agreement intended to be entered into by his separation date.