United Therapeutics
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 Laboratory and co-headquarters complex in Silver Spring, Maryland (top), co-headquarters in Research Triangle Park, North Carolina (bottom) | |
| Company type | Public |
|---|---|
| |
| Industry | Biotechnology |
| Founded | 1996 |
| Headquarters | , United States |
| Revenue |  $2.33 Billion (2023) |
Number of employees | 1,168 |
| Website | unither |
United Therapeutics Corporation is a U.S.-based biotechnology firm focused on pharmaceuticals and technologies related to organ transplantation, including advancements in xenotransplantation. Its product range mainly addresses lung-related illnesses and organ fabrication. The company maintains dual headquarters in Silver Spring, Maryland and Research Triangle Park, North Carolina, along with multiple other locations throughout the United States and Canada.
History
United Therapeutics was established in 1996 by entrepreneur and business visionary Martine Rothblatt, also known for founding Sirius XM. The inception of the company followed the diagnosis of Rothblatt’s daughter with pulmonary arterial hypertension (PAH). Utilizing her expertise, Rothblatt initiated the enterprise and supported PAH research via the PPH Cure Foundation.
In 2002, the FDA granted approval for United Therapeutics’ leading medication Remodulin, a prostacyclin vasodilator designed to treat PAH, providing an alternative to GlaxoSmithKline’s Flolan. Remodulin’s revenue expanded from $50 million in 2003 to $300 million by 2010, playing a key role in boosting the company’s financial results and stock performance since its public offering in 1999.
The company’s growth strategy incorporates targeted acquisitions to broaden its biotechnology capabilities. In 2011, United Therapeutics purchased Revivicor to enhance its xenotransplantation initiatives aimed at organ replacement therapies. Other acquisitions include SteadyMed in 2018, which strengthened its injectable pulmonary hypertension treatments, as well as SynQuest (1999) and Cooke Pharma (2000). Collaborations have also been formed with notable entities such as Eli Lilly, DEKA Research & Development, MannKind Corporation, and the National Cancer Institute.
In 2021, United Therapeutics adopted a public benefit corporation status to better align its corporate framework with its social impact objectives.
A significant milestone occurred in January 2022 when a heart from Revivicor was transplanted into a human for the first time at the University of Maryland Medical Center. Although the patient passed away two months later, this event underscored United Therapeutics’ leadership and influence within the xenotransplantation market.
Recent expansions include acquiring bioengineering firm IVIVA Medical, Inc. in October 2023 for $50 million plus royalties, incorporating sixteen new employees into its team. In December 2023, United Therapeutics finalized the purchase of Miromatrix Medical Inc., a company specializing in bioengineered human-cell-based organs, further diversifying its regenerative medicine offerings.
Medicines
United Therapeutics primarily distributes its products within the United States and Canada, while collaborating with distribution partners to extend its presence across Central and South America, Europe, the Middle East, and Asia. The company has obtained multiple FDA approvals for Orenitram, Remodulin, Tyvaso, and Tyvaso DPI, all indicated for treating pulmonary arterial hypertension (PAH). Additionally, Tyvaso and Tyvaso DPI are authorized for managing pulmonary hypertension linked to interstitial lung disease (PH-ILD).
Through a licensing arrangement with Eli Lilly and Company, United Therapeutics markets Adcirca (tadalafil) as a treatment option for PAH.
In February 2020, the FDA authorized the Unity Subcutaneous Delivery System (Remunity pump) for use with Remodulin Injection. This system allows administration via prefilled drug cassettes supplied by specialty pharmacies and delivers Remodulin subcutaneously to PAH patients aged over 22.
In March 2015, the FDA granted approval for United Therapeutics' Biologics License Application concerning Unituxin, a monoclonal antibody indicated as a second-line treatment for high-risk pediatric neuroblastoma.
Most recently, in May 2022, the FDA approved the New Drug Application for Tyvaso DPI—a dry powder inhaler formulation of treprostinil—approved for both PAH and PH-ILD indications.
Research
United Therapeutics is advancing an extensive research and development pipeline that includes novel indications, new formulations, and innovative delivery methods for its current product portfolio. The pipeline features five registration-phase clinical trials addressing rare pulmonary diseases alongside seven preclinical candidates mainly focused on organ manufacturing technologies.
The company completed the INCREASE trial in February 2020, evaluating Tyvaso in pulmonary hypertension associated with interstitial lung disease (PH-ILD). The study achieved its primary goal of enhancing six-minute walk distance (6MWD). Following submission of these results to the FDA, an efficacy supplement to Tyvaso’s New Drug Application was approved on March 31, 2021.
Active clinical investigations include the Phase 3 ADVANCE OUTCOMES trial assessing ralinepag in pulmonary arterial hypertension, a registration study of the Centralized Lung Evaluation System, as well as TETON 1 and TETON 2 trials targeting idiopathic pulmonary fibrosis (IPF).
United Therapeutics is at the forefront of developing bioengineered organs as pharmaceutical products designed to replace failing organs. This initiative leverages cutting-edge techniques such as xenotransplantation, allogenic recellularization, and autologous bioprinting. These regenerative medicine strategies form a core component of the company’s approach to addressing critical organ shortages.
In 2021, collaborative research teams from New York University and the University of Alabama at Birmingham successfully transplanted genetically modified xenokidneys into brain-dead human recipients, demonstrating sustained kidney function. These breakthroughs underscore United Therapeutics’ significant role in organ bioengineering innovation.
That same year, Unither Bioelectronics—a subsidiary of United Therapeutics—completed the first-ever drone delivery of human lungs between hospitals in Toronto. The lungs were successfully transplanted into patient Alain Hodak, showcasing advancements in transplant logistics technology.
In 2022, United Therapeutics reached a landmark achievement with the UHeart xenoheart—the initial pig heart transplanted into a living human recipient—featuring ten genetic modifications designed to improve compatibility. CEO Martine Rothblatt also revealed an extraordinarily detailed 3D printed lung scaffold containing 44 trillion voxels that map out 4,000 kilometers of pulmonary capillaries and 200 million alveoli, exemplifying visionary leadership in organ printing technology.
Operations
United Therapeutics manages a combined 415,000-square-foot laboratory and office facility located in Silver Spring, Maryland, which functions as both a co-headquarters and a commercial manufacturing site for active pharmaceutical ingredients and finished goods. Its Research Triangle Park, North Carolina location spans 380,000 square feet and also serves as a co-headquarters, accommodating teams dedicated to clinical research, development, commercialization, logistics, manufacturing, and packaging. Nearby, the company owns a 132-acre tract featuring roughly 330,000 square feet devoted to lung regeneration research, development, and production, with capacity for future growth.
The corporation’s international footprint includes various subsidiaries such as Lung Biotechnology PBC, Lung Bioengineering Inc., Miromatrix Medical, United Therapeutics Europe Ltd., Unither Biotech Inc. (Canada), Unither Pharma LLC, Unither Telmed Ltd., Unither Bioélectronique (Quebec), IVIVA Medical, and Revivicor Inc. As of December 2023, United Therapeutics employed 1,168 individuals worldwide. By June 1, 2024, the company’s market capitalization reached $12.3 billion.
Lung Biotechnology PBC
Lung Biotechnology PBC operates as a subsidiary of United Therapeutics and holds the distinction of being the first public benefit corporation affiliated with a publicly traded biopharmaceutical firm. Its primary focus lies in perfusion technology designed to enhance preservation of transplantable lungs. This advancement addresses the critical scarcity of donor lungs for patients suffering from end-stage lung conditions such as pulmonary arterial hypertension (PAH).
Corporate social responsibility
In 2020, United Therapeutics implemented a minimum living wage policy guaranteeing approximately $75,000 annually per employee, inclusive of incentives. Full-time employees also engage in long-term incentive programs that grant shareholder status. The company consistently ranks among the Top 10 Corporate Citizens within the U.S. pharmaceutical manufacturing sector alongside industry leaders like Amgen and Johnson & Johnson. It has received ongoing recognition on Fortune’s Best Workplaces in Health Care & Biopharma for three consecutive years, The Washington Post’s Top Workplaces for six straight years, Fortune’s Best Small & Medium Workplaces for three years running, and Fortune’s Best Workplaces for Millennials. Additional accolades include the Women in Technology Corporate Board Award and recognition as one of the Triangle Business Journal’s Best Places to Work.
United Therapeutics prioritizes environmentally responsible operations through one Platinum- and two Gold-certified LEED buildings along with four net-zero energy facilities across three states. Its "Unisphere" office in Silver Spring was notable at completion as the largest urban energy-positive office building, incorporating solar power systems and cutting-edge design to produce excess energy.
Surpassing both industry standards and the Russell 3000 index benchmarks, the company has embraced progressive corporate governance measures such as majority voting protocols, proxy access rights, Board declassification initiatives, and restrictions on directors serving on multiple outside boards. The Board maintains ongoing dialogue with shareholders regarding governance and operational strategies. Detailed Corporate Social Responsibility reports were released annually from 2020 through 2022.
In 2021, shareholders approved United Therapeutics’ transition to a public benefit corporation (PBC), aligning its mission to balance shareholder returns with broader societal contributions. The company’s public benefit commitment centers on advancing innovative pharmaceutical treatments and technologies aimed at increasing the availability of transplantable organs—enhancing its competitive position through leadership in both innovation and corporate responsibility.
Leadership
Martine Aliana Rothblatt, who established and currently chairs United Therapeutics, earned her J.D. and M.B.A. from the University of California, Los Angeles in 1981, along with a Ph.D. in medical ethics from Queen Mary University of London completed in 2001. Her career encompasses expertise in communications satellite law and the life sciences sector, including contributions to the Human Genome Project. Rothblatt is also the founder of GeoStar and SiriusXM Satellite Radio. The company's executive team includes Michael Benkowitz as president and COO, James Edgemond fulfilling the roles of CFO and treasurer, and Paul Mahon acting as general counsel.