United Therapeutics authorizes $2 billion share buyback

United Therapeutics Corporation (UTHR) said Thursday in a regulatory filing that its board of directors approved a share repurchase program of up to $2 billion of the company's common stock.

The board approved the program on Oct. 21. The authorization will remain in effect for one year, ending Oct. 21, 2027.

In a press release issued Oct. 22, the company announced the program as an additional $2 billion authorization.

"We have the balance sheet and free cash flow to fund our long-term ambitions and the confidence to act decisively when our own shares represent a compelling investment," said Chief Financial Officer and Treasurer James Edgemond.

The company may buy back shares through accelerated share repurchase programs, open market transactions, privately negotiated transactions or other means.

The program does not require the purchase of any minimum number of shares. Purchases are subject to the company's discretion and depend on alternative uses of capital and market conditions.

The company may start or suspend purchases at any time without prior notice, and it is not obligated to use the full authorization.

The company also has an ongoing accelerated share repurchase transaction entered into in September 2026 under its prior share repurchase authorization. That transaction has a scheduled termination date in the fourth quarter of 2026, subject to earlier termination or extension.

The filing said the ongoing transaction will not reduce the amount available under the new $2 billion authorization.

United Therapeutics is a public benefit corporation headquartered in Silver Spring, Maryland, according to the press release.