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United Therapeutics was founded in 1996 by Martine Rothblatt, an American lawyer, author, and entrepreneur, who created Sirius XM. In 1994, Rothblatt's young daughter was diagnosed with a fatal orphan disease, pulmonary arterial hypertension (PAH). Rothblatt sold her telecom stock and started the PPH Cure Foundation to fund PAH research.
In 2002, the U.S. Food and Drug Administration (FDA) approved United Therapeutics' drug Remodulin, a prostacyclin vasodilator used to treat PAH. Remodulin provided PAH patients with an alternative to GlaxoSmithKline 's Flolan. By 2003, Remodulin annual sales had reached $50 million. By 2010, annual sales were $300 million and United Therapeutics' share price had increased 800 percent from the 1999 initial public offering price.
In 2011, United Therapeutics acquired Revivicor, a company focused on developing genetic biotechnology platforms to provide alternative tissue sources for treatment. With the acquisition of Revivicor, United Therapeutics began the xenokidney program to find alternative sources of organs for patients awaiting a kidney transplant. Xenotransplantation is a potential solution as it possibly could provide a limitless supply of organs.
In 2018, the company acquired SteadyMed, a medical device company developing injectable therapeutic drugs for pulmonary hypertension. Other acquisitions include SynQuest in 1999 and Cooke Pharma in 2000. United Therapeutics has entered numerous licensing agreements and collaborations with companies such as Eli Lilly and Company, DEKA Research & Development, MannKind Corporation, and the National Cancer Institute.
In 2021, United Therapeutics converted to a benefit corporation.
On January 7, 2022, a porcine heart provided by United Therapeutics' Revivicor subsidiary in conjunction with the University of Maryland Medical Center was used in the first pig-to-human transplant operation. The recipient subsequently died on March 8, 2022.
In October 2023, United Therapeutics purchased bioengineering company IVIVA Medical, Inc. for $50 million plus royalties. Sixteen IVIVA employees transferred to United Therapeutics.
In December 2023, United Therapeutics Corporation completed the acquisition of Miromatrix Medical Inc., a biotechnology company that specializes in the development of bioengineered organs composed of human cells.
In 2024, Liquidia sued the FDA over its decision to award a three-year exclusivity period to United Therapeutics.
In 2025, Fortune 1000 listed United Therapeutics at No. 942 among the top 1,000 U.S. companies by revenue. Within the healthcare sector, the company ranked 74th among Fortune 1000 healthcare companies.