United Therapeutics has announced today, October 1 that the corporation will now be operated as a public benefit corporation. The announcement was a result of shareholder approval on company’s proposal regarding remodelling its character. This will be reported as the first public biotech company to convert into PBC.
United Therapeutic’s recent conversion to PBC perfectly aligns with the company’s longstanding efforts to enhance patient health and care. The corporation has focused on captivating talent while spreading awareness and advertising healthy communities. In addition, United Therapeutics has successfully addressed, and prioritized sustainability reflected by adoption of green-building technologies. The company has established a strong market identity with delivery of impressive shareholder returns. It has been on a consistent path of value creation with six years of expertise and experience in operating the Lung Biotechnology PBC. This was the very first PBC subsidiary of a publicly-traded biopharmaceutical firm.
PBC refers to a for-profit organization that focuses on satisfying the shareholders along with the direct consumers or the entities affected by company’s conduct. PBC focuses on creating value for the shareholders while considering public benefit realising the best interests of potentials. PBCs in general target production of public benefits integrating sustainable, and responsible operation models.