United Therapeutics Authorizes Additional $420M Share Buyback
United Therapeutics Corporation (NASDAQ: UTHR) today announced that its Board of Directors authorized the repurchase of up to an additional $420 million of the company's common stock. This program will become effective on March 4, 2013, and will remain open for up to one year. Purchases may be made in the open market 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.
The company also announced that it had recently completed its previously-announced $100 million repurchase program by purchasing approximately 1,186,000 shares of common stock for a total of $57.1 million during the fourth quarter of 2012.
"I am pleased that our board has authorized an additional $420 million in share repurchases," remarked Martine Rothblatt, Ph.D., United Therapeutics' Chairman and Chief Executive Officer. "We believe these are an appropriate opportunity to return value to our shareholders."
About United Therapeutics
United Therapeutics is a biotechnology company focused on the development and commercialization of unique products to address the unmet medical needs of patients with chronic and life-threatening conditions. [uthr-g]
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