Tianyin begins $3M repurchase program

Tianyin Pharmaceutical, a manufacturer and supplier of modernized traditional Chinese medicines based in Chengdu, China, has begun the  initial purchase of shares under its previously-announced stock  repurchase program.

In October 2008, the firm's board authorized the repurchase of up to  $3.0 million of its common stock from time to time in the open-market or  through privately-negotiated transactions. The buyback has now been  extended through June 30.

As of December 31, 2008, the company had approximately 15.7 million  shares of common stock outstanding and approximately 1,031,322 million  shares were in the public float as of the day of the announcement,  January 30.