Company Overview of United Therapeutics Corporation
United Therapeutics Corporation, a biotechnology company, develops and commercializes products to address the unmet medical needs of patients with chronic and life-threatening conditions worldwide. Its lead product comprises Remodulin, an injection used for the treatment of pulmonary arterial hypertension (PAH). The company also provides Tyvaso, an inhaled prostacyclin therapy; and Adcirca, a once-daily oral therapy for the treatment of PAH. In addition, it develops Orenitram, a prostacyclin analog for treatment of PAH; Ch14.18 MAb, an antibody for the treatment of neuroblastoma; Beraprost 314d, which is under Phase III clinical trials for the treatment of PAH; and PLacental eXpanded cells t...
1040 Spring Street
Silver Spring, MD 20910
Founded in 1996
Key Executives for United Therapeutics Corporation
Founder, Chairman and Co-Chief Executive Officer
Total Annual Compensation: $1.0M
Co-Chief Executive Officer, President and Director
Total Annual Compensation: $840.4K
Executive Vice President of Strategic Planning, General Counsel and Corporate Secretary
Total Annual Compensation: $731.0K
Compensation as of Fiscal Year 2014.
United Therapeutics Corporation Key Developments
United Therapeutics Corporation Entered into a Credit Agreement
Feb 1 16
On January 29, 2016, United Therapeutics Corporation entered into a Credit Agreement (the “Credit Agreement”) with certain of its subsidiaries party thereto, as guarantors (the “Guarantors”), the lenders referred to therein, and Wells Fargo Bank, National Association (“Wells Fargo”), as administrative agent and as a swingline lender. The Credit Agreement provides for an unsecured revolving credit facility of up to $1.0 billion. The facility matures five years after the closing date of the Credit Agreement, subject to an ability of the lenders thereunder, or certain of the lenders thereunder, to elect to extend the maturity date of their commitments by one year following a request for such extension by the Company in accordance with the terms of the Credit Agreement. As of January 29, 2016, Lung Biotechnology PBC is the only subsidiary of the Company required to be a Guarantor and guarantee the Company’s obligations under the Credit Agreement. From time to time, one or more additional subsidiaries of the Company may be required to guarantee the Company’s obligations under the Credit Agreement. At the Company’s option, the loan will bear interest at either the LIBOR rate or a fluctuating base rate, in each case, plus an applicable margin that is determined on a quarterly basis based on the Company’s consolidated ratio of total indebtedness to EBITDA (as calculated in accordance with the Credit Agreement). The proceeds of borrowings under the Credit Agreement are available to refinance certain existing indebtedness of the Company and its subsidiaries and/or for working capital and other general corporate purposes. Upon closing of the Credit Agreement on January 29, 2016, no amounts were drawn.
United Therapeutics Corporation and Teva Pharmaceuticals USA, Inc. Enter into Settlement Agreement to Settle Ongoing Litigation Concerning Certain Patents Relating to Remodulin (treprostinil) Injection (Remodulin) and Teva's Abbreviated New Drug Application
Jan 19 16
On January 15, 2016, United Therapeutics Corporation and Teva Pharmaceuticals USA Inc. entered into a settlement agreement to settle their ongoing litigation concerning certain patents relating to Remodulin (treprostinil) Injection (Remodulin) and Teva's Abbreviated New Drug Application (ANDA) seeking approval by the U.S. Food and Drug Administration (FDA) to market a generic version of Remodulin. The settlement agreement relates to a lawsuit filed by the Company against Teva alleging infringement of U.S. Patent Nos. 6,765,117, 7,999,007, 8,497,393, 8,653,137 and 8,658,694. This action is described in further detail in Part II, Item 1 of the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2015, filed with the U.S. Securities and Exchange Commission (SEC) on October 27, 2015. Under the settlement agreement, the company grants Teva a non-exclusive license beginning on December 23, 2018 to manufacture and commercialize in the United States the generic version of Remodulin described in Teva's ANDA filing, although Teva may be permitted to enter the market earlier under certain circumstances. The Settlement Agreement does not grant Teva a license to manufacture a generic version of any other Company product, such as Tyvaso (treprostinil) Inhalation Solution or Orenitram (treprostinil) Extended-Release Tablets, nor does it grant any rights with respect to any technology associated with the Remodulin Implantable System being developed by the Company and Medtronic Inc., or the pre-filled semi-disposable pump system being developed by the Company and DEKA Research & Development Corp. The Settlement Agreement does not grant Teva any rights other than those required to launch Teva's generic version of Remodulin. In accordance with the terms of the settlement agreement, the parties will submit the Settlement Agreement to the U.S. Federal Trade Commission and the U.S. Department of Justice for review. They will also take certain procedural steps to terminate the outstanding lawsuit.
United Therapeutics Corporation Presents at JPMorgan 34th Annual Healthcare Conference, Jan-11-2016 04:00 PM
Jan 6 16
United Therapeutics Corporation Presents at JPMorgan 34th Annual Healthcare Conference, Jan-11-2016 04:00 PM. Venue: Westin St. Francis Hotel, 335 Powell Street, San Francisco, California, United States. Speakers: Roger A. Jeffs, Co-Chief Executive Officer, President and Director.
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