United Therapeutics Corporation (NASDAQ: UTHR) has announced an accelerated share repurchase (ASR) program, reflecting the company's confidence in its near-term prospects. The ASR program, totaling $1 billion, is a strategic move that demonstrates the strength of United Therapeutics' balance sheet and its commitment to returning capital to shareholders while maintaining flexibility for future growth investments.
Under the ASR agreements with Citibank, N.A. (Citi), United Therapeutics will make an upfront payment of $1 billion on August 4, 2025. The company will receive an initial delivery of shares representing approximately 75% of the total shares anticipated to be repurchased under the uncollared ASR, plus approximately 50% of the total shares anticipated to be repurchased under the collared ASR, based on the closing stock price of UTHR common stock on August 1, 2025.
The final number of shares to be repurchased under both ASR agreements will be determined based on the average of the daily volume-weighted average price per share of UTHR common stock during the respective terms, less a discount and subject to adjustments. The final settlements for the uncollared ASR and collared ASR are expected in the fourth quarter of 2025 and the first quarter of 2026, respectively.
As of July 30, 2025, United Therapeutics had approximately 45.2 million shares outstanding.
This ASR program is a significant move by United Therapeutics, reflecting its commitment to creating value for its shareholders and capitalizing on its strong financial position. The market has reacted to these announcements by moving the company's shares 7.13% to a price of $294.28. For more information, read the company's full 8-K submission here.
