Press release
United Therapeutics Converts to a Public Benefit Corporation Following Shareholder Approval
Conversion officially aligns corporate charter with longstanding commitment to improve the lives of patients while creating sustainable shareholder value in a
About this update from United Therapeutics Corporation
[{"type":"text","content":"Conversion officially aligns corporate charter with longstanding commitment to improve the lives of patients while creating sustainable shareholder value in a responsible manner\n\n\nSILVER SPRING, Md. and RESEARCH TRIANGLE PARK, N.C., Sept. 30, 2021 /PRNewswire/ -- United Therapeutics Corporation (Nasdaq: UTHR) today announced it has officially converted to a public benefit corporation (PBC). The conversion follows shareholder approval of the company's proposal to amend its charter at today's Special Meeting of Shareholders. This is the first PBC conversion of a public biotech or pharmaceutical company.\nUnited Therapeutics' conversion to a PBC aligns its legal charter with its longstanding practices of improving patients' health, enhancing employee engagement, attracting top talent, promoting healthy communities, and addressing important sustainability priorities through its use of green-building technologies, while simultaneously delivering strong shareholder returns. The company has a proven track record of value creation, along with six years of experience operating its Lung Biotechnology PBC subsidiary (the first ever PBC subsidiary of a publicly-traded biopharmaceutical company), so it understands this corporate form well. This PBC conversion initiative was led by the Nominating and Governance Committee of United Therapeutics' Board of Directors.\n\"We are inspired by our shareholders who recognize that caring for our patients, planet, employees, communities, and other stakeholders enhances our ability to generate strong shareholder returns,\" said Martine Rothblatt, Ph.D., Chairperson and Chief Executive Officer of United Therapeutics. \"Becoming a PBC aligns United Therapeutics' corporate structure with our foundational DNA and gives us a strong platform to advance our objectives of developing novel pharmaceutical therapies and finding a cure for end-stage organ diseases by creating an unlimited supply of transplantable organs.\" \nUnited Therapeutics has been proud to receive support from key partners and employees throughout this process, and our stakeholders have shared the following statements as the company operates in its new form as a PBC:\n\"My interest in United Therapeutics stems from its clear, passionate care for the patients and communities it serves and an unrelenting mission to find a cure for pulmonary a...