SILVER SPRING, Md. and
RESEARCH TRIANGLE PARK, N.C.,
April 27, 2017 /PRNewswire/ -- 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]
Forward-looking Statements
Statements included in this press release that are not
historical in nature are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include, among others, statements
regarding future repurchases of shares of our common stock. These
forward-looking statements are subject to certain risks and
uncertainties, such as those described in our periodic and other
reports filed with the Securities and Exchange Commission that
could cause actual results to differ materially from anticipated
results. These risks and uncertainties include, among others, our
ability to successfully execute repurchases on favorable terms, and
such forward-looking statements are qualified by the cautionary
statements, cautionary language and risk factors set forth in our
periodic reports and documents filed with the Securities and
Exchange Commission, including our most recent Annual Report on
Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K. We claim the protection of the safe harbor contained in
the Private Securities Litigation Reform Act of 1995 for
forward-looking statements. We are providing this information as of
April 27, 2017, and assume no
obligation to update or revise the information contained in this
press release whether as a result of new information, future events
or any other reason.
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SOURCE United Therapeutics Corporation