The Board of Directors of Neopharm Co Ltd (KOSE:A092730) authorized a share repurchase program on July 9, 2013. Under the program, the company will repurchase up to 199,203 shares for KRW 1 billion which is based on the closing price of KRW 5,020 per share on July 8, 2013. The company will make a direct acquisition on Korea Securities Dealers Automated Quotation market of the exchange.

The purpose of the repurchase program is to improve stock value through stability of stock price. The company will repurchase maximum of 19,920 shares per day. The repurchases will commence on July 10, 2013and will end on October 9, 2013.

As of July 8, 2013, the company had 52,178 shares under direct ownership of treasury stock and had no shares in treasury under trust agreements. Samsung Securities Co. Ltd acted as the Investment broker for Neopharm Co.