The Board of Directors of American Oriental Bioengineering Inc. (NYSE:AOB) authorized a share repurchase program on March 15, 2011. Under the program, the company will repurchase up to $20 million worth of its shares. The purchases under the program may be made, from time to time, in the open market, privately negotiated transactions, block trades, and accelerated stock repurchase transactions or otherwise, as determined by the company and will be funded from available working capital. The number of shares to be purchased and the timing of purchases will be based on several factors, including the price of the company's stock, general business and market conditions and other investment opportunities. The company believes the program should enhance shareholder value over time. The program will be valid for a period of two years. As of March 21, 2011, the company had 78,598,604 shares of common stock outstanding.

On February 24, 2012, the company affected a reverse stock split of one for two.

American Oriental Bioengineering Inc.'s share repurchase program expired on March 15, 2013. Under the plan, the company has repurchased 1,227,918 shares for $2.07 million.