Biotech Values

[ghmm]

Management Selling:

When I owned UTHR management was selling all the way up and the stock did extremely well for a number of years. So I don't generalize management selling to be always a negative. They were well rewarded in options though. If anyone is curious I had vaguely recalled them publishing their 10b5 plans (at one point don't believe they've done so for a number of years) I went through the effort to look it up and here is the 8k with some:

https://www.sec.gov/Archives/edgar/data/1082554/000110465907058775/a07-20906_18k.htm

Martine Rothblatt

On August 3, 2007, Martine A. Rothblatt, Ph.D., the Company’s Chief Executive Officer, adopted a prearranged trading plan in accordance with Securities and Exchange Commission Rule 10b5-1 and United Therapeutics’ Securities Trades by Company Personnel Policy.

The 10b5-1 plan adopted by Dr. Rothblatt involves a market order to sell 3,200 shares on Wednesday of each week, with all such shares acquired through the exercise of employee stock options. Shares will be sold under the plan on the open market at prevailing market prices subject to a minimum price threshold.

The plan will expire on June 26, 2010, or when the maximum amount of 499,207 shares has been sold, whichever first occurs.

John Ferrari

On August 3, 2007, John Ferrari, the Company’s Chief Financial Officer, adopted a prearranged trading plan in accordance with Securities and Exchange Commission Rule 10b5-1 and United Therapeutics’ Securities Trades by Company Personnel Policy.

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The 10b5-1 plan adopted by Mr. Ferrari involves a market order to sell 1,000 shares on the second Thursday of each month, with all such shares acquired through the exercise of employee stock options. Trading under the plan will commence in November 2007. Shares will be sold under the plan on the open market at prevailing market prices subject to minimum price thresholds.

The plan will expire on December 31, 2008, or when the maximum amount of 14,000 shares has been sold, whichever first occurs.