	Years Ended December 31,

	2008			2007		2006		2005		2004
	(in thousands, except ratio)
(Losses) earnings from continuing operations before fixed charges	$	(42,789	)	$	19,859	$	28,982	$	42,893	$	13,209

Fixed charges
Interest expenses, net of capitalized interest	$	16		$	2,175	$	482	$	29	$	3
Capitalized interest		3,106			689		—		—		—
Portion of rentals representative of interest factor		1,161			1,885		1,172		—		—
Total fixed charges		4,283			4,749		1,654		29		3

Ratio of earnings to fixed charges		(9.99	)		4.18		17.52		1,479.07		4,403.00

Excess fixed charges over earnings	$	47,072		$	—	$	—	$	—	$	—

NOTE: The Ratio of Earnings to Fixed Charges should be read in conjunction with the Consolidated Financial Statements and related Notes and Management's Discussion and Analysis of Financial Condition and Results of Operations contained in United Therapeutics Corporation's Annual Report on Form 10-K for the year ended December 31, 2008.