United Therapeutics announces $1 billion share repurchase program

United Therapeutics Corporation (NASDAQ: UTHR) announced it will enter into two accelerated share repurchase agreements with Citibank, N.A. to repurchase $1 billion of common stock. The biotechnology company will make an upfront payment of $1 billion on August 4, 2025, under a repurchase program authorized by its board of directors on July 30, 2025.

The agreements comprise a $500 million collared and a $500 million uncollared arrangement. United Therapeutics will receive an initial delivery of shares representing approximately 75% of total shares anticipated under the uncollared agreement and 50% under the collared agreement, based on the closing stock price on August 1, 2025.

"These expeditious agreements reflect our confidence in the intrinsic value of our stock, our upcoming catalysts, and our ability to generate sustained revenue and cash flow growth," said Martine Rothblatt, chairperson and chief executive officer.

Final settlement of the uncollared agreement is expected in the fourth quarter of 2025, while the collared agreement is expected to settle in the first quarter of 2026. The final number of shares repurchased will be based on the average daily volume-weighted average price during each agreement's term, less a discount and subject to adjustments.

At final settlement, United Therapeutics may receive additional shares or be required to make cash payments to Citi. The company had approximately 45.2 million shares outstanding as of July 30, 2025.

The information is based on a company press release statement.

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