United Therapeutics board approves $2 billion share buyback

United Therapeutics Corporation announced on October 22, 2026 that its Board of Directors had cleared a new buyback authorization covering as much as $2 billion of company common stock. The board approved the program on October 21, 2026, and it will stay in effect for one year, ending October 21, 2027.¹

The company said it has flexibility in how it carries out the purchases. United Therapeutics may implement share repurchases under the authorization through accelerated share repurchase programs, open market transactions, privately negotiated transactions or other means.¹ There is no fixed purchase target built into the plan. The program does not require buying any minimum number of shares, and actual repurchases are left to the company's discretion, weighed against other potential uses of capital and prevailing market conditions.¹ United Therapeutics may start or pause the buying at any time without advance notice and is not obligated to use the full authorization.¹

The new plan comes on top of work already in progress. United Therapeutics currently has an ongoing accelerated share repurchase transaction that it entered into in September 2026 under its prior authorization, which is scheduled to end in the fourth quarter of 2026, subject to earlier termination or extension, and will not count against the amount available under the new authorization.¹

CFO and Treasurer James Edgemond commented on the move, saying "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."¹ He added that the authorization reflects "deep conviction in the future of our company, our disciplined approach to capital allocation, and our commitment to delivering durable long-term value for shareholders."¹