FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * ROTHBLATT MARTINE A   2. Issuer Name and Ticker or Trading Symbol UNITED THERAPEUTICS CORP [UTHR] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) CEO (Last) (First) (Middle) 3. Date of Earliest Transaction (Month/Day/Year) 01/20/2005 (Street)   4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 01/20/2005 01/20/2005 S   2,000 (1) D $ 44.34 512,368 (2) D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option

$ 43.6

01/20/2005

01/20/2005

A

1,500

01/20/2005

01/19/2015

Common Stock

1,500

$ 0 (3)

322,251 (6)

D

Employee Stock Options

$ 43.6

01/20/2005

01/20/2005

A

500,000

01/20/2005

01/19/2015

Common Stock

500,000

$ 0 (4)

822,251 (5)

D

Employee Stock Options

$ 43.6

01/20/2005

01/20/2005

A

298,592

01/20/2005

01/19/2015

Common Stock

298,592 (7)

$ 0

1,120,843 (8)

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
ROTHBLATT MARTINE A	X		CEO

Signatures

/s/ Paul A. Mahon under Power of Attorney		01/21/2005
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	This sale of 2,000 shares is pursuant to the 10b5-1 Plan adopted by the reporting person's spouse on March 12, 2004. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.
(2)	Includes 231,173 shares held by the reporting person's spouse.
(3)	On July 19, 2004,pursuant to an individual negotiation, the issuer canceled a ten-year option granted to the reporting person on June 23,2000 for 1,500 shares at $84.88 per share. In exchange, the reporting person received the option reported herein.
(4)	On July 19, 2004,pursuant to an individual negotiation, the issuer canceled a ten-year option granted to the reporting person on June 26,2000 for 500,000 shares at $90 per share. In exchange, the reporting person received the option reported herein.
(5)	Includes 231,173 shares held by the reporting person's spouse.
(6)	Includes 231,173 shares held by the reporting person's spouse.
(7)	2004 annual incentive stock option award
(8)	Includes 231,173 shares held by the reporting person's spouse.

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