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United Therapeutics discloses accelerated share repurchase program

United Therapeutics Corp. entered into an agreement with Citibank NA relating to a collared accelerated share repurchase program under which United will buy $250 million of its common stock.

The program is scheduled to be completed in the fourth quarter of 2017, although it may be completed earlier at Citi's election.

United expects to borrow $250 million under its revolving credit facility and use the proceeds of the revolving loans to pay the initial purchase price of its common stock to Citibank under the program.