Press release
United Therapeutics Corporation Reports First Quarter 2020 Financial Results
- First quarter Orenitram® net revenue growth of 18% year-over-year - Major milestones such as the INCREASE filing and Remunity™ Pump launch remain on track
About this update from United Therapeutics Corporation
[{"type":"text","content":"- First quarter Orenitram® net revenue growth of 18% year-over-year\n - Major milestones such as the INCREASE filing and Remunity™ Pump launch remain on track despite the COVID-19 pandemic\n - United Therapeutics is engaged in the fight against COVID-19\n\n\nSILVER SPRING, Md. and RESEARCH TRIANGLE PARK, N.C., April 29, 2020 /PRNewswire/ -- United Therapeutics Corporation (Nasdaq: UTHR) today announced its financial results for the quarter ended March 31, 2020. First quarter net revenue decreased 2% to $356.3 million year-over-year while first quarter net revenue excluding Adcirca increased 0.4%, compared to the first quarter of 2019. First quarter diluted earnings per share (EPS) was $3.12 compared to an $11.32 per share loss in the first quarter of 2019. Non-GAAP diluted EPS of $3.61 was up 1% from the first quarter of 2019.\n\"I'm proud of the efforts of the entire United Therapeutics team to ensure continued access to our life-sustaining therapies during this unprecedented time,\" said Martine Rothblatt, Ph.D., Chairman and Chief Executive Officer of United Therapeutics. \"We're excited that our supplemental new drug application to expand the potential Tyvaso® patient population with the INCREASE study results remains on track for a mid-year filing and, along with our partner DEKA, we're preparing for a July 2020 launch of our Remunity Pump.\"\nMichael Benkowitz, President and Chief Operating Officer of United Therapeutics, commented, \"We're pleased with Remodulin®'s continued resilience in the face of generic competition and Orenitram's 18% year-over-year revenue growth, which we attribute to physician reception of the FREEDOM-EV data showing that Orenitram, when used in combination with an approved oral background therapy, delays disease progression and leads to improvement across key clinical parameters. We see these data, plus the recently announced publications demonstrating Orenitram's positive effect on hemodynamics, risk status, and PAH-related healthcare costs, as enhancing Orenitram's value proposition.\"\nFIRST QUARTER 2020 FINANCIAL RESULTS\nKey financial highlights include (dollars in millions, except per share data):\nThree Months EndedMarch 31,\n2020\n2019\nDollar\nChange\nPercentage\nChange\nRevenues\n$\n356.3\n$\n362.6\n$\n(6.3)\n(2)\n%\nNet income (loss)\n$\n137.7\n$\n(494.6)\n$\n632.3\n128\n%\nNon-GAAP ea...