United Therapeutics approves 2-for-1 stock split

United Therapeutics says its board approves stock split that will take effect Sept. 23

• On 5:14 pm EDT, Tuesday September 1, 2009

SILVER SPRING, Md. (AP) -- Biotechnology company United Therapeutics Corp. on Tuesday said it approved a two-for-one stock split effective Sept. 23.

The stock split will double United Therapeutics' share count to about 54 million from 27 million, halving its share price. The new shares will be distributed as a dividend, and given on Sept. 22 to shareholders of record as of Sept. 14.

United Therapeutics shares closed at $91.19 Tuesday, and have traded between $47.63 and $114.59 over the last year.