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United Therapeutics Corporation Reports Second Quarter 2009 Financial Results
Date:7/31/2009

der our Share Tracking Awards Plan (STAP).

Selling, General and Administrative Expenses

The table below summarizes selling, general and administrative expenses by major category (dollars in thousands):


                                           Three Months Ended
                                                June 30,
                                           -------------------  Percentage
                                           2009           2008    Change
                                           ----           ----  ----------
      Category:
        General and administrative      $12,960         $9,444        37.2%
        Sales and marketing              11,049          9,316        18.6%
        Share-based compensation         25,362          4,333       485.3%
                                         ------          -----       -----
         Total selling, general
          and administrative expenses   $49,371        $23,093       113.8%
                                        =======        =======       =====



General and administrative. The increase in general and administrative expenses for the quarter ended June 30, 2009, resulted mainly from expenses incurred in connection with the operation of our newly constructed facility in Research Triangle Park, North Carolina.

Sales and marketing. The increase in sales and marketing expenses for the quarter ended June 30, 2009, primarily reflects expenses incurred in connection with our new marketing campaign for Adcirca (tadalafil) tablets.

Share-based compensation. The increase in share-based compensation expense for the quarter ended June 30, 2009, as compared to the quarter ended June 30, 2008, is primarily due to the increase in the price of our common stock, which resulted in additional c
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SOURCE United Therapeutics Corporation
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