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(Corrects headline and paragraph 1 to say the company may, not would, buy back up to $1.5 bln in securities)
Jan 22 (Reuters) - Valeant Pharmaceuticals International Inc , Canada's biggest publicly traded drugmaker, said it may buy back securities worth up to $1.5 billion.
The company said the buyback program, which commenced on Nov. 22, would include repurchase of convertible notes, senior notes and common shares.
The program replaces the company's previous buyback program which expired on Nov. 14, the company said in a statement. (Reporting By Anannya Pramanick in Bangalore; Editing by Don Sebastian)