United Therapeutics

What United Therapeutics does

United Therapeutics Corporation is a publicly traded biotechnology company founded in 1996 and headquartered across co-locations in Silver Spring, Maryland and Research Triangle Park, North Carolina, that develops and commercializes therapeutics for rare diseases — primarily pulmonary arterial hypertension (PAH), pulmonary hypertension associated with interstitial lung disease (PH-ILD), idiopathic pulmonary fibrosis (IPF), and pediatric high-risk neuroblastoma — and is building an organ manufacturing platform intended to address transplant organ shortages. The commercial portfolio is built on proprietary treprostinil formulations delivered through four distinct routes: Remodulin (subcutaneous/IV infusion), Tyvaso and Tyvaso DPI (nebulized and dry powder inhalation), and Orenitram (oral extended-release tablets), supplemented by the in-licensed PDE-5 inhibitor Adcirca and the monoclonal antibody Unituxin (dinutuximab) for neuroblastoma. Manufacturing is vertically integrated following the 1999 SynQuest acquisition, and the company holds the FDA RMAT designation for the investigational bioengineered liver assist device miroliverELAP.

The organ manufacturing platform is the company's long-term growth pillar and spans ex vivo lung perfusion (LBE 360° Transplant Support Service, with 500 transplants performed), gene-edited xenotransplantation through the 2011-acquired Revivicor program (first porcine xenothymokidney transplant April 2024), bioengineered organs through Miromatrix Medical (acquired December 2023 for ~$91 million) and IVIVA Medical, and a 3D-printed organ scaffold program with 3D Systems. Pipeline depth extends beyond treprostinil via the once-daily oral prostacyclin receptor agonist ralinepag (Phase 3 ADVANCE OUTCOMES met primary endpoint, NDA planned H2 2026) and Tyvaso for IPF (Phase 3 TETON-1 met primary endpoint with 130.1 mL FVC improvement at 52 weeks, supplemental NDA planned summer 2026). The company also invests in adjacent platforms including microgravity drug formulation with Varda Space Industries and hydrogen-electric VTOL aircraft through Unither Bioelectronics for organ delivery logistics.

United Therapeutics operates a specialty pharmacy distribution model coordinated through the United Therapeutics Cares patient support program, with healthcare-provider-administered infusion for Remodulin and Unituxin and specialty pharmacy dispensing for Tyvaso DPI and Orenitram. The company is incorporated in Delaware as a Public Benefit Corporation since 2021 (the first publicly traded biotech so structured), generated approximately $3.18 billion in revenue in FY2025, and trades on NASDAQ under the ticker UTHR with a market capitalization reported between $22.95 billion and $25.51 billion in 2026. Customers are individual rare disease patients and transplant programs distributed across the U.S., Canada, the UK, and select European and Asia-Pacific markets; commercial reach is exercised through medical affairs teams, scientific conferences, and patient-organization partnerships rather than concentrated enterprise sales.

Name

United Therapeutics

Legal name

United Therapeutics Corporation

Website

https://unither.com

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

United Therapeutics is a publicly traded biotech that develops and commercializes treprostinil-based therapies for pulmonary arterial hypertension, PH-ILD, and neuroblastoma, and is building an organ manufacturing platform spanning ex vivo lung perfusion, xenotransplantation, and bioengineered organs.

Ownership category

akta.pro rank

Product category

Rare Disease Biopharmaceuticals

NAICS

Pharmaceutical Preparation Manufacturing (325412), Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Rare Cardiovascular & Vascular Disorder Therapies (HLAIAIAH)

akta.pro secondary industries

Pulmonology & Allergy Specialty Pharmaceuticals (HLAIACAF), Transplantation & Advanced Therapies Pharmaceuticals (incl. Cell & Gene Therapies) (HLAIAAAO)

Keywords

• Pulmonary hypertension therapeutics
• Rare disease biotechnology
• Organ manufacturing
• Xenotransplantation technology
• Inhalation drug delivery

Headquarters

HQ city

Silver Spring

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Supply Chain, Marketing or Sales, Operations

Revenue model

1. Pharmaceutical Product Sales: Sale of FDA-approved prescription medications including Remodulin, Tyvaso/Tyvaso DPI, Orenitram, Adcirca, and Unituxin for rare diseases including pulmonary arterial hypertension, pulmonary hypertension associated with interstitial lung disease, and pediatric high-risk neuroblastoma
2. Organ Manufacturing: Long-term growth driver through xenotransplantation and bioengineered organ programs expected to generate tens of billions in opportunity with potential commercialization by 2029-2030

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

United Therapeutics develops, manufactures, and commercializes FDA-approved therapeutics for rare diseases, primarily pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD), using multiple proprietary delivery platforms for treprostinil. The company is also building a vertically integrated organ manufacturing platform spanning ex vivo lung perfusion services, gene-edited pig xenotransplantation, and bioengineered organs to address the critical shortage of transplantable organs.

Product overview

United Therapeutics operates a diversified biopharmaceutical and organ manufacturing enterprise organized around two core pillars: (1) a portfolio of FDA-approved commercial drugs for rare diseases — Remodulin (IV/SC treprostinil injection), Tyvaso and Tyvaso DPI (inhaled treprostinil for PAH and PH-ILD), Orenitram (oral treprostinil), Adcirca (tadalafil/PDE-5i), and Unituxin (dinutuximab for high-risk neuroblastoma) — and (2) an expanding organ manufacturing platform encompassing ex vivo lung perfusion services (LBE 360°), xenotransplantation of gene-edited pig organs (xenokidney, UHeart), a bioengineered liver assist device (miroliverELAP, with FDA RMAT designation), and an organ bioprinting program via Lung Biotechnology PBC. The company also operates Unither Bioelectronics, developing hydrogen-electric VTOL aircraft for organ delivery logistics. The pipeline includes ralinepag (oral prostacyclin receptor agonist, Phase 3 completed with NDA planned H2 2026) and Tyvaso for IPF (TETON program, supplemental NDA planned 2026). United Therapeutics converted to a public benefit corporation in 2021 and maintains co-headquarters in Silver Spring, MD and Research Triangle Park, NC.

Differentiator

Problem solved

Functional benefit

Brands

• Lung Bioengineering: Ex vivo lung perfusion (EVLP) service for lung transplant support
• Lung Biotechnology PBC
• Jenesis Awards Program
• PAH Initiative
• United Therapeutics Cares

Products and services

• Remodulin (treprostinil) Injection A prescription prostacyclin analogue delivered via continuous subcutaneous or intravenous infusion through a pump system for the treatment of adults with pulmonary arterial hypertension (PAH), reducing symptoms associated with exercise and serving as a transition therapy from epoprostenol.
• Tyvaso (treprostinil) Inhalation Solution An inhaled treprostinil therapy delivered via nebulizer (TD-100 or TD-300) for the treatment of PAH and PH-ILD, improving exercise capacity by delivering the drug directly to the lungs.
• Tyvaso DPI (treprostinil) Inhalation Powder A dry powder inhaler formulation of treprostinil approved for PAH and PH-ILD that delivers medication directly to the lungs using a portable single-dose inhaler, providing a more convenient alternative to nebulized delivery.
• Orenitram (treprostinil) Extended-Release Tablets An oral prostacyclin analogue tablet taken 2-3 times daily for the treatment of PAH, mimicking the effects of prostacyclin to open blood vessels and reduce pulmonary arterial pressure, slowing disease progression.
• Adcirca (tadalafil) A once-daily oral phosphodiesterase 5 inhibitor (PDE-5i) licensed from Eli Lilly for the U.S. market, used to treat PAH and improve exercise capacity by widening blood vessels in the lungs.
• Unituxin (dinutuximab) Injection A monoclonal antibody injection approved for the treatment of high-risk neuroblastoma in pediatric patients, administered as part of a combined therapy regimen with GM-CSF, IL-2, and 13-cis-retinoic acid.
• LBE 360° Transplant Support Service A centralized ex vivo lung perfusion (EVLP) service in the United States dedicated to making more donor organs available for transplant, providing procurement, logistics, 24/7 expertise, and data sharing to maximize organ utilization for lung transplant programs.

Quantifiable outcome

• TETON-1 trial: 130.1 mL improvement in absolute FVC vs placebo at 52 weeks (P<0.001)
• +4 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Varda Space IndustriescoreStrategic or Co-development Partner · 13 May 2026Collaboration to develop improved drug formulations for rare pulmonary diseases using microgravity-based pharmaceutical processing aboard Varda's orbital manufacturing platform in low Earth orbit. United Therapeutics is paying Varda to identify new crystal forms (polymorphs) of existing drugs using microgravity's ability to produce more uniform crystal structures. First formulations expected to fly on upcoming W-series missions with potential to open billions in markets.
• Rochester, Minnesota health tech ecosystemminorOthers · 1 January 2026United Therapeutics building $110 million facility in Rochester, Minnesota to produce gene-edited pig organs for transplantation as part of regional health tech ecosystem development.
• Robinson Helicopter CompanyminorStrategic or Co-development Partner · 1 January 2026Partnership through Unither Bioelectronique subsidiary to develop hydrogen-electric VTOL aircraft based on modified Robinson R44 and R66 platforms for organ delivery from lab to bedside.
• Miromatrix Medical Inc.coreStrategic or Co-development Partner · 1 October 2023Acquired for $91 million in October 2023 to expand organ manufacturing technologies including xenotransplantation and regenerative medicine using decellularized porcine scaffolds and human donor cells. Key to United Therapeutics' long-term organ manufacturing strategy.
• IVIVA Medical Inc.coreStrategic or Co-development Partner · 1 January 2023Acquired to develop 3D-printed organ scaffolds for manufactured organs being developed for transplant.
• MannKind CorporationcoreStrategic or Co-development Partner · 1 January 2018Collaboration for development and commercialization of Tyvaso DPI (treprostinil inhalation powder) using MannKind's dry powder inhaler technology. MannKind manufactures and supplies Tyvaso DPI to United Therapeutics.
• 3D SystemsminorStrategic or Co-development Partner · 1 January 2017Organ bioprinting program collaboration through Lung Biotechnology PBC subsidiary for 3D printing of organ scaffolds.
• Mayo Clinic JacksonvillecoreStrategic or Co-development Partner · 1 January 2015Collaboration to construct Discovery and Innovation Center housing site net-zero laboratory facility for ex-vivo lung perfusion and Mayo's Innovation Exchange life sciences incubator in Jacksonville, Florida.
• DEKA Research & Development Corp.coreTechnology or Integration · 1 January 2014Development of next-generation subcutaneous pump for Remodulin resulting in the Remunity Pump for Remodulin.
• RevivicorcoreStrategic or Co-development Partner · 1 January 2011Acquired xenotransplantation program including gene-edited pig technology. Revivicor provided the ten-gene-edited porcine organs for historic xenokidney and xenothymokidney transplants.
• National Cancer InstitutecoreStrategic or Co-development Partner · 1 January 2010Collaboration to develop monoclonal antibody for treatment of high-risk neuroblastoma, which became Unituxin (dinutuximab).

Scale indicators16 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• eGenesis: A direct xenotransplantation peer developing gene-edited pig organs for human transplantation, competing with United Therapeutics' Revivicor-derived xenokidney and xenothymokidney programs.
• Liquidia Corporation: Develops Yutrepia, an inhaled dry-powder treprostinil for PAH and PH-ILD that directly competes with United Therapeutics' Tyvaso DPI, including ongoing patent litigation between the two companies.
• BioMarin Pharmaceutical: A rare-disease-focused biopharma comparable in therapeutic-area focus, commercial model, and revenue scale, with marketed therapies in niche indications that mirror United Therapeutics' PAH and rare-disease strategy.
• Insmed: A growing rare-disease biopharma with a specialty commercial model and inhaled/specialty therapeutics, providing a comparable rare-pulmonary commercial model benchmark to United Therapeutics' Tyvaso franchise.
• Vertex Pharmaceuticals: Operates a profitable, highly specialized rare-disease commercial franchise (cystic fibrosis and emerging specialty indications) with comparable revenue scale and a similar strategy of expanding label breadth within a focused therapeutic area.
• Bayer: Markets Adempas (riociguat), the only FDA-approved oral sGC stimulator for PAH and chronic thromboembolic pulmonary hypertension, making Bayer a direct therapeutic-area competitor to United Therapeutics' PAH franchise.

Emerging players

• Alnylam Pharmaceuticals: Pioneers RNAi-based rare-disease therapeutics, including Onpattro for hATTR amyloidosis; a comparable specialty biologics company advancing novel modalities in small rare-disease patient populations.
• Sarepta Therapeutics: Focused on genetic and rare neuromuscular diseases, with a portfolio of FDA-approved specialty biologics and advanced-therapy products that parallels United Therapeutics' specialty biologics franchise (Unituxin) and organ-manufacturing advanced-therapy ambitions.

Others

• MannKind Corporation: Strategic partner that supplies the dry-powder inhaler technology underlying Tyvaso DPI; comparable as a platform enabler for inhaled biologics and an adjacent specialty-pharma/medical-device peer.

Broad incumbents

• Johnson & Johnson (Janssen): Through Janssen, markets Opsumit (macitentan) and Uptravi (selexipag), two leading oral PAH therapies that compete head-to-head with Orenitram, Adcirca, and Tyvaso, and represents a broader portfolio incumbent in pulmonary hypertension.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/125351020852805
• LinkedInlinkedin.com/company/united-therapeutics

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A7 records

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about United Therapeutics