UNITED THERAPEUTICS ANNOUNCES FIRST PATIENT ENROLLED IN PHASE 3 TETON 2 STUDY OF TYVASO IN PATIENTS WITH IDIOPATHIC PULMONARY FIBROSIS Second registration study of Tyvaso (treprostinil) Inhalation S

UNITED THERAPEUTICS ANNOUNCES FIRST PATIENT

ENROLLED IN PHASE 3 TETON 2 STUDY OF TYVASO IN PATIENTS WITH IDIOPATHIC PULMONARY FIBROSIS

Second registration study of Tyvaso

(treprostinil) Inhalation Solution for patients with IPF

SILVER SPRING, Md. and RESEARCH TRIANGLE PARK, N.C., October 11,

2022: United Therapeutics Corporation (Nasdaq: UTHR), a public benefit corporation, announced today that the first patient

has enrolled in the phase 3 TETON 2 study which will evaluate Tyvaso in 396 adult patients with idiopathic pulmonary fibrosis

(IPF) at sites outside the United States and Canada. This second registration study is part of the broader global TETON

program evaluating Tyvaso for the treatment of IPF. The 52-week study will evaluate the impact of Tyvaso on a key prognostic

indicator for IPF known as forced vital capacity (FVC). IPF is a progressive lung disease characterized by the loss of the

ability of the lungs to transfer oxygen into the blood, ultimately resulting in respiratory failure and death.

"Despite the availability of two approved products in this therapeutic

category, there remains a critical unmet need in IPF," said Steven Nathan, M.D., Medical Director of the Advanced Lung Disease

and Lung Transplant Program at Inova Fairfax Hospital in Falls Church, Virginia, who is also chair of the TETON program steering

committee. "As is now widely known in the pulmonology community, the safety data collected from the INCREASE study showed

a positive impact of inhaled treprostinil on FVC in IPF patients with pulmonary hypertension. In follow-up to this, the TETON 1 and

TETON 2 studies have been designed to further investigate the potential antifibrotic effects of inhaled treprostinil in IPF patients."

Tyvaso is currently approved by the U.S. Food and Drug Administration

(FDA) to treat both pulmonary arterial hypertension and pulmonary hypertension (PH) associated with interstitial lung disease

(PH-ILD). The PH-ILD indication, which includes patients with PH associated with IPF, was added to the Tyvaso label in March 2021

based on the successful results of the INCREASE study. Tyvaso is not approved in any jurisdiction for use for IPF patients without

documented PH. Additionally, Tyvaso DPI (treprostinil) inhalation powder is not being evaluated in the TETON program.

"The expansion of the TETON program demonstrates our excitement

about the potential for Tyvaso in IPF," said Peter Smith, Pharm.D., United Therapeutics' Vice President of Global Product

Development. "Like with TETON 1, the TETON 2 study is an example of our flexible development model to expand beyond

PH to potentially help us better understand the impact of treprostinil as a potential treatment option for this vulnerable group of patients."

Parallel in design to the TETON 1 study, the TETON 2

study is a 396-patient, multicenter, randomized, double-blind, placebo-controlled phase 3 registration study to evaluate the safety and

efficacy of Tyvaso in subjects with IPF over a 52-week period. This second registration study is part of the broader global TETON

program evaluating Tyvaso for the treatment of IPF and will be conducted at sites outside of the United States and Canada. The TETON

1 study is being conducted at sites in the United States and Canada.

Subjects will be randomly allocated 1:1 to receive Tyvaso or placebo.

All subjects will initiate Tyvaso or placebo at a dose of three breaths administered four times daily (QID) and will titrate to

a target dosing regimen of 12 breaths QID. Study drug doses may be titrated up as tolerated, until the target dose or maximum clinically

tolerated dose is achieved.

The primary endpoint of the study is the change in FVC from baseline

to week 52. Secondary endpoints include: (1) time to clinical worsening; (2) time to first acute exacerbation of IPF; (3) overall survival

at week 52; (4) change in percent predicted FVC from baseline to week 52; and (5) change in the King's Brief Interstitial Lung Disease

Other data collected in the study will include the plasma N-terminal

pro-brain natriuretic peptide (NT-proBNP) concentration, supplemental oxygen use, and lung diffusion capacity. Safety assessments

include the development of adverse events, serious adverse events, vital signs, clinical laboratory parameters, and electrocardiogram

IPF is a scarring disease of the lungs of an unknown (idiopathic) cause

and is the most common of the idiopathic interstitial pneumonias. IPF is characterized by the progressive loss of the ability of the lungs

to transfer oxygen into the blood, ultimately resulting in respiratory failure and death. While the precise causes of IPF remain unknown, IPF rarely presents

before age 50 and can be associated with cigarette smoking and certain genetic dispositions. In addition, some evidence suggests that

gastroesophageal reflux (acid reflux, or heartburn), certain viral infections, air pollution, and some exposures in the workplace may

be risk factors for IPF. According to recent research, IPF is estimated to affect between 0.33 and 4.51 people per 10,000 persons worldwide1.

Further, United Therapeutics estimates there are around 100,000 IPF patients in the United States alone.

About TYVASO (treprostinil) Inhalation Solution

and TYVASO DPI (treprostinil) Inhalation Powder

TYVASO (treprostinil) Inhalation Solution and TYVASO DPI (treprostinil)

Inhalation Powder are prostacyclin mimetics indicated for the treatment of:

The effects diminish over the minimum recommended dosing

interval of 4 hours; treatment timing can be adjusted for planned activities.

While there are long-term data on use of treprostinil by

other routes of administration, nearly all clinical experience with inhaled treprostinil has been on a background of an endothelin receptor

antagonist (ERA) and/or a phosphodiesterase type 5 (PDE-5) inhibitor. The controlled clinical experience with TYVASO was limited to 12

IMPORTANT SAFETY INFORMATION

WARNINGS AND PRECAUTIONS

DRUG INTERACTIONS/SPECIFIC POPULATIONS

In a 12-week, placebo-controlled study (TRIUMPH I) of 235

patients with PAH (WHO Group 1 and nearly all NYHA Functional Class III), the most common adverse reactions seen with TYVASO in 4%

of PAH patients and more than 3% greater than placebo were cough (54% vs 29%), headache (41% vs 23%), throat irritation/pharyngolaryngeal

pain (25% vs 14%), nausea (19% vs 11%), flushing (15% vs <1%), and syncope (6% vs <1%). In addition, adverse reactions occurring

in 4% of patients were dizziness and diarrhea.

In a 3-week, open-label, single-sequence, safety and tolerability

study (BREEZE) conducted in 51 patients on stable doses of TYVASO who switched to a corresponding dose of TYVASO DPI, the most commonly

reported adverse events seen with TYVASO DPI in 4% of PAH patients during the 3-week treatment phase included cough (35.3%), headache

(15.7%), dyspnea (7.8%), and nausea (5.9%).

In a 16-week, placebo-controlled study (INCREASE) of 326

patients with PH-ILD (WHO Group 3), adverse reactions with TYVASO were similar to the experience in studies of PAH.

Please see Full Prescribing Information for

TYVASO or TYVASO DPI, Instructions for Use manuals for TD-100 and TD-300 TYVASO Inhalation System

and TYVASO DPI Inhalation Powder, and additional information at www.TYVASOHCP.com or call 1-877-UNITHER

United Therapeutics: Enabling Inspiration

At United Therapeutics, our vision and mission are one. We use our

enthusiasm, creativity, and persistence to innovate for the unmet medical needs of our patients and to benefit our other stakeholders.

We are bold and unconventional. We have fun, we do good. We are the first publicly-traded biotech or pharmaceutical company to take the

form of a public benefit corporation (PBC). Our public benefit purpose is to provide a brighter future for patients through

(a) the development of novel pharmaceutical therapies; and (b) technologies that expand the availability of transplantable organs.

You can learn more about what it means to be a PBC here: unither.com/PBC.

Forward-looking Statements

Statements included in this press release that are not historical in

nature are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking

statements include, among others, statements relating our plans to conduct the TETON 1 and TETON 2 studies, including our

plan to enroll 396 patients in the TETON 2 study, the potential for inhaled treprostinil to become a treatment option for patients

with idiopathic pulmonary fibrosis, our commitment to fulfilling our purpose and promise to our patients, our employees, and all of humankind,

our ability to create value and sustain our success in the long-term, and our efforts to develop technologies that either delay the need

for transplantable organs or expand the supply of transplantable organs. These forward-looking statements are subject to certain risks

and uncertainties, such as those described in our periodic reports filed with the Securities and Exchange Commission, that could cause

actual results to differ materially from anticipated results. Consequently, such forward-looking statements are qualified by the cautionary

statements, cautionary language and risk factors set forth in our periodic reports and documents filed with the Securities and Exchange

Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We

claim the protection of the safe harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements.

We are providing this information as of October 11, 2022 and assume no obligation to update or revise the information contained in this

press release whether as a result of new information, future events, or any other reason.

TYVASO and TYVASO DPI are registered trademarks of United Therapeutics

For Further Information Contact:

Dewey Steadman at (202) 919-4097

Email: ir@unither.com