United Therapeutics Corp. completed its licensing and collaboration agreement with MannKind Corp. to globally develop and commercialize a hypertension drug.

The agreement, which was cleared under U.S. antitrust laws Oct. 15, will see United Therapeutics develop a dry powder formulation of treprostinil that will be marketed worldwide.

Westlake Village, Calif.-based MannKind will receive an up-front payment of $45 million from the Silver Spring, Md.-based biotechnology company, which already markets a version of treprostinil in the U.S. as Tyvaso.

Tyvaso generated $372.9 million in revenue in 2017, down 7.8% year over year.