United Therapeutics Corporation (NASDAQ: UTHR) today announced that its Board of Directors authorized the repurchase of up to $250 million of the company's common stock. This program will became effective immediately, and will remain open through December 31, 2017. Purchases may be made in the open market, accelerated share repurchases or in privately negotiated transactions from time to time as determined by United Therapeutics' management and in accordance with the requirements of the U.S. Securities and Exchange Commission and the Board's authorization, which includes a maximum purchase price per share acquired under the program.
"We are pleased to continue our track record of returning value to our shareholders via stock repurchases," remarked Martine Rothblatt, Ph.D., United Therapeutics' Chairman and Chief Executive Officer. "When this new $250.0 million repurchase program is completed, we will have returned over $2.0 billion to our shareholders over a six-year period, repurchasing more than 35% of our outstanding shares during that time."
About United Therapeutics
United Therapeutics Corporation is a biotechnology company focused on the development and commercialization of innovative products to address the unmet medical needs of patients with chronic and life-threatening conditions. [uthr-g]