United Therapeutics Purchases Rights to Arena's Ralinepag; Increasing FVE to $127
We are increasing our fair value estimate for narrow-moat United Therapeutics to $127 from $121 per share following the announced agreement with Arena Pharmaceuticals in which United gains exclusive worldwide rights to ralinepag, a Phase 3 oral prostacyclin for pulmonary arterial hypertension, or PAH. We believe the addition of ralinepag is a good strategic fit for United as the company's prostacyclin portfolio weakened with the recent patent expiration of Remodulin. Ralinepag in the form of a o...United Therapeutics is a biotechnology company. The company markets and sells four commercial therapies to treat pulmonary arterial hypertension (PAH): Remodulin? (treprostinil) Injection; Tyvaso? (treprostinil) Inhalation Solution; Orenitram? (treprostinil) Extended-Release Tablets; and Adcirca? (tadalafil) Tablets. The company also markets and sells an oncology product, Unituxin? (dinutuximab) Injection for treatment of high-risk neuroblastoma. The company also engages in research and development of new indications and formulations and delivery devices for its existing products, as well as new products to treat PAH and other conditions. The company also engages in organ transplantation-related technologies.
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