UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934
                               (Amendment No. 1)*

                         UNITED THERAPEUTICS CORPORATION
--------------------------------------------------------------------------------
                                (Name of Issuer)


                     Common Stock, Par Value $0.01 Per Share
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    91307C102
                                    ---------
                                 (CUSIP Number)

                                December 31, 2007
                                -----------------
                      (Date of Event which Requires Filing
                               of this Statement)



Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

                  [ ]      Rule 13d-1(b)
                  [X]      Rule 13d-1(c)
                  [ ]      Rule 13d-1(d)



  *The remainder of this cover page shall be filled out for a reporting person's
  initial filing on this form with respect to the subject class of securities,
  and for any subsequent amendment containing information which would alter the
  disclosures provided in a prior cover page.

  The information required on the remainder of this cover page shall not be
  deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
  Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
  the Act but shall be subject to all other provisions of the Act (however, see
  the Notes).


                                  Page 1 of 11




------------------------------                               -------------------
CUSIP No. 91307C102                        13G               Page 2 of 11 Pages
------------------------------                               -------------------

---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           S.A.C. Capital Advisors, LLC
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
--------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
                      ----- ----------------------------------------------------
                         6  SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED          186,570 (1) (see Item 4)
BY EACH REPORTING     ----- ----------------------------------------------------
PERSON WITH              7  SOLE DISPOSITIVE POWER

                            0
                      ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            186,570 (1) (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           186,570 (1) (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES



---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           0.8% (1) (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
---------- ---------------------------------------------------------------------
                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 2 of 11




------------------------------                               -------------------
CUSIP No. 91307C102                        13G               Page 3 of 11 Pages
------------------------------                               -------------------

---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           S.A.C. Capital Management, LLC
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
--------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
                      ----- ----------------------------------------------------
                         6  SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED          186,570 (1) (see Item 4)
BY EACH REPORTING     ----- ----------------------------------------------------
PERSON WITH              7  SOLE DISPOSITIVE POWER

                            0
                      ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            186,570 (1) (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           186,570 (1) (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           0.8% (1) (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
---------- ---------------------------------------------------------------------
                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 3 of 11






------------------------------                               -------------------
CUSIP No. 91307C102                        13G               Page 4 of 11 Pages
------------------------------                               -------------------

---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           CR Intrinsic Investors, LLC
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
--------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
                      ----- ----------------------------------------------------
                         6  SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED          0 (see Item 4)
BY EACH REPORTING     ----- ----------------------------------------------------
PERSON WITH              7  SOLE DISPOSITIVE POWER

                            0
                      ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            0 (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           0 (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           0% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
---------- ---------------------------------------------------------------------
                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 4 of 11




------------------------------                               -------------------
CUSIP No. 91307C102                        13G               Page 5 of 11 Pages
------------------------------                               -------------------

---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Sigma Capital Management, LLC
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
--------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
                      ----- ----------------------------------------------------
                         6  SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED          120,000 (see Item 4)
BY EACH REPORTING     ----- ----------------------------------------------------
PERSON WITH              7  SOLE DISPOSITIVE POWER

                            0
                      ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            120,000 (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           120,000 (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           0.5% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           00
---------- ---------------------------------------------------------------------
                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 5 of 11



------------------------------                               -------------------
CUSIP No. 91307C102                        13G               Page 6 of 11 Pages
------------------------------                               -------------------

---------- ---------------------------------------------------------------------
        1  NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Steven A. Cohen
---------- ---------------------------------------------------------------------
        2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
---------- ---------------------------------------------------------------------
        3  SEC USE ONLY
---------- ---------------------------------------------------------------------
        4  CITIZENSHIP OR PLACE OF ORGANIZATION

           United States
--------------------- ----- ----------------------------------------------------
                         5  SOLE VOTING POWER

                            0
                      ----- ----------------------------------------------------
                         6  SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY OWNED          306,570 (1) (see Item 4)
BY EACH REPORTING     ----- ----------------------------------------------------
PERSON WITH              7  SOLE DISPOSITIVE POWER

                            0
                      ----- ----------------------------------------------------
                         8  SHARED DISPOSITIVE POWER

                            306,570 (1) (see Item 4)
---------- ---------------------------------------------------------------------
        9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           306,570 (1) (see Item 4)
---------- ---------------------------------------------------------------------
       10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

           [ ]
---------- ---------------------------------------------------------------------
       11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

           1.4% (see Item 4)
---------- ---------------------------------------------------------------------
       12  TYPE OF REPORTING PERSON*

           IN
---------- ---------------------------------------------------------------------
                       *SEE INSTRUCTION BEFORE FILLING OUT

                                  Page 6 of 11




Item 1(a)           Name of Issuer:
                    --------------

                    United Therapeutics Corporation

Item 1(b)           Address of Issuer's Principal Executive Offices:
                    -----------------------------------------------

                    1110 Spring Street, Silver Spring, MD 20910

Items 2(a)          Name of Person Filing:
                    ---------------------

                    This statement is filed by: (i) S.A.C. Capital Advisors, LLC
                    ("SAC Capital Advisors") with respect to shares of common
                    stock, par value $0.01 per share ("Shares"), of the Issuer
                    beneficially owned by S.A.C. Capital Associates, LLC ("SAC
                    Capital Associates") and S.A.C. MultiQuant Fund, LLC ("SAC
                    MultiQuant Fund"); (ii) S.A.C. Capital Management, LLC ("SAC
                    Capital Management") with respect to Shares beneficially
                    owned by SAC Capital Associates and SAC MultiQuant Fund;
                    (iii) CR Intrinsic Investors, LLC ("CR Intrinsic Investors")
                    with respect to Shares beneficially owned by CR Intrinsic
                    Investments, LLC ("CR Intrinsic Investments"); (iv) Sigma
                    Capital Management, LLC ("Sigma Management") with respect to
                    Shares beneficially owned by Sigma Capital Associates, LLC
                    ("Sigma Capital Associates") and (v) Steven A. Cohen with
                    respect to Shares beneficially owned by SAC Capital
                    Advisors, SAC Capital Management, SAC Capital Associates,
                    SAC MultiQuant Fund, CR Intrinsic Investors, CR Intrinsic
                    Investments, Sigma Management and Sigma Capital Associates.

                    SAC Capital Advisors, SAC Capital Management, CR Intrinsic
                    Investors, Sigma Management and Steven A. Cohen have entered
                    into a Joint Filing Agreement, a copy of which is filed with
                    this Schedule 13G as Exhibit 99.1, pursuant to which they
                    have agreed to file this Schedule 13G jointly in accordance
                    with the provisions of Rule 13d-1(k) of the Securities
                    Exchange Act of 1934, as amended.

Item 2(b)           Address of Principal Business Office:
                    ------------------------------------

                    The address of the principal business office of (i) SAC
                    Capital Advisors, CR Intrinsic Investors and Mr. Cohen is 72
                    Cummings Point Road, Stamford, Connecticut 06902 and (ii)
                    SAC Capital Management and Sigma Management is 540 Madison
                    Avenue, New York, New York 10022.

Item 2(c)           Citizenship:
                    -----------

                    SAC Capital Advisors, SAC Capital Management, CR Intrinsic
                    Investors, Sigma Management are Delaware limited liability
                    companies. Mr. Cohen is a United States citizen.


                                  Page 7 of 11


Item 2(d)           Title of Class of Securities:
                    ----------------------------

                    Common Stock, par value $0.01 per share

Item 2(e)           CUSIP Number:
                    ------------

                    91307C102

Item 3              Not Applicable

Item 4              Ownership:
                    ---------

                    The percentages used herein are calculated based upon the
                    Shares issued and outstanding as of January 3, 2008 as
                    reported on the Issuer's prospectus on Form 424B7 filed with
                    the Securities and Exchange Commission by the Issuer on
                    January 7, 2008.

                    As of the close of business on December 31, 2007:

                    1. S.A.C. Capital Advisors, LLC
                    (a) Amount beneficially owned: 186,570 (1)
                    (b) Percent of class: 0.8% (1)
                    (c)(i) Sole power to vote or direct the vote: -0-
                    (ii) Shared power to vote or direct the vote: 186,570 (1)
                    (iii) Sole power to dispose or direct the disposition: -0-
                    (iv) Shared power to dispose or direct the disposition:
                         186,570 (1)

                    2. S.A.C. Capital Management, LLC
                    (a) Amount beneficially owned: 186,570 (1)
                    (b) Percent of class: 0.8% (1)
                    (c)(i) Sole power to vote or direct the vote: -0-
                    (ii) Shared power to vote or direct the vote: 186,570 (1)
                    (iii) Sole power to dispose or direct the disposition: -0-
                    (iv) Shared power to dispose or direct the disposition:
                         186,570 (1)

                    3. CR Intrinsic Investors, LLC
                    (a) Amount beneficially owned: -0-
                    (b) Percent of class: 0%
                    (c)(i) Sole power to vote or direct the vote: -0-
                    (ii) Shared power to vote or direct the vote: -0-
                    (iii) Sole power to dispose or direct the disposition: -0-
                    (iv) Shared power to dispose or direct the disposition:
                         -0-

                                  Page 8 of 11

                    4. Sigma Capital Management, LLC
                    (a) Amount beneficially owned: 120,000
                    (b) Percent of class: 0.5%
                    (c)(i) Sole power to vote or direct the vote: -0-
                    (ii) Shared power to vote or direct the vote: 120,000
                    (iii) Sole power to dispose or direct the disposition: -0-
                    (iv) Shared power to dispose or direct the disposition:
                         120,000

                    5. Steven A. Cohen
                    (a) Amount beneficially owned: 306,570 (1)
                    (b) Percent of class: 1.4% (1)
                    (c)(i) Sole power to vote or direct the vote: -0-
                    (ii) Shared power to vote or direct the vote: 306,570 (1)
                    (iii) Sole power to dispose or direct the disposition: -0-
                    (iv) Shared power to dispose or direct the disposition:
                         306,570 (1)

                    (1) Includes 50,000 Shares subject to call options held by
                    SAC Capital Associates.

                    SAC Capital Advisors, SAC Capital Management, CR Intrinsic
                    Investors, Sigma Management and Mr. Cohen do not directly
                    own any Shares. Pursuant to investment management
                    agreements, each of SAC Capital Advisors and SAC Capital
                    Management share all investment and voting power with
                    respect to the securities held by SAC Capital Associates and
                    SAC MultiQuant Fund. Pursuant to an investment management
                    agreement, CR Intrinsic Investors maintains investment and
                    voting power with respect to the securities held by CR
                    Intrinsic Investments. Pursuant to an investment management
                    agreement, Sigma Management maintains investment and voting
                    power with respect to the securities held by Sigma Capital
                    Associates. Mr. Cohen controls each of SAC Capital Advisors,
                    SAC Capital Management, CR Intrinsic Investors and Sigma
                    Management. By reason of the provisions of Rule 13d-3 of the
                    Securities Exchange Act of 1934, as amended, each of (i) SAC
                    Capital Advisors, SAC Capital Management and Mr. Cohen may
                    be deemed to own beneficially 186,570 (1) Shares
                    (representing approximately 0.8% (1) of the Shares
                    outstanding) and (ii) Sigma Management and Mr. Cohen may be
                    deemed to own beneficially 120,000 Shares (representing
                    approximately 0.5% of the Shares outstanding). Each of SAC
                    Capital Advisors, SAC Capital Management, CR Intrinsic
                    Investors, Sigma Management and Mr. Cohen disclaim
                    beneficial ownership of any of the securities covered by
                    this statement.

                                  Page 9 of 11





Item 5              Ownership of Five Percent or Less of a Class:
                    --------------------------------------------

                    If this statement is being filed to report the fact that as
                    of the date hereof the reporting person has ceased to be the
                    beneficial owner of more than five percent of the class of
                    securities, check the following.   [X]

Item 6              Ownership of More than Five Percent on Behalf of Another
                    --------------------------------------------------------
                    Person:
                    ------

                    Not Applicable

Item 7              Identification and Classification of the
                    ----------------------------------------
                    Subsidiary Which Acquired the Security Being
                    --------------------------------------------
                    Reported on By the Parent Holding Company:
                    ------------------------------------------

                    Not Applicable

Item 8              Identification and Classification of Members
                    --------------------------------------------
                    of the Group:
                    ------------

                    Not Applicable

Item 9              Notice of Dissolution of Group:
                    ------------------------------

                    Not Applicable

Item 10             Certification:
                    -------------

     By signing below the signatory certifies that, to the best of his knowledge
and belief, the securities referred to above were not acquired and are not held
for the purpose of or with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose or
effect.

                                 Page 10 of 11




                                    SIGNATURE
                                    ---------

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

Dated: February 14, 2008

S.A.C. CAPITAL ADVISORS, LLC


By:     /s/ Peter Nussbaum
        ----------------------------------
Name:   Peter Nussbaum
Title:  Authorized Person


S.A.C. CAPITAL MANAGEMENT, LLC


By:     /s/ Peter Nussbaum
        ----------------------------------
Name:   Peter Nussbaum
Title:  Authorized Person


CR INTRINSIC INVESTORS, LLC


By:     /s/ Peter Nussbaum
        ----------------------------------
Name:   Peter Nussbaum
Title:  Authorized Person


SIGMA CAPITAL MANAGEMENT, LLC


By:     /s/ Peter Nussbaum
        ----------------------------------
Name:   Peter Nussbaum
Title:  Authorized Person


STEVEN A. COHEN


By:     /s/ Peter Nussbaum
        ----------------------------------
Name:   Peter Nussbaum
Title:  Authorized Person

                                 Page 11 of 11