Press release
United Therapeutics Corporation Reports Fourth Quarter and Full Year 2019 Financial Results
~ Full year net revenue growth of 3% excluding Adcirca® ~ ~ Company expects 2020 full year net revenue growth ~ ~ INCREASE study of Tyvaso® in PH-ILD meets
About this update from United Therapeutics Corporation
[{"type":"text","content":"~ Full year net revenue growth of 3% excluding Adcirca® ~\n ~ Company expects 2020 full year net revenue growth ~\n ~ INCREASE study of Tyvaso® in PH-ILD meets primary and secondary endpoints\n ~~ Remunity™ system cleared by FDA for pharmacy-filled use; launch expected by July 2020\n\n\nSILVER SPRING, Md. and RESEARCH TRIANGLE PARK, N.C., Feb. 26, 2020 /PRNewswire/ -- United Therapeutics Corporation (Nasdaq: UTHR) today announced its financial results for the fourth quarter and year ended December 31, 2019. Full year net revenue decreased 11% to $1,449 million, largely due to the launch of generic versions of Adcirca® in late 2018. Full year net revenue excluding Adcirca increased 3% in 2019 as compared to 2018. Quarterly net revenue of $311 million decreased 18% from the prior year. The year-over-year quarterly revenue decline was largely due to an estimated $43.6 million decrease in purchases of our treprostinil-based products in the fourth quarter of 2019 by one U.S. distributor to adjust its inventory levels to correct for a mistake in the distributor's utilization calculations. The distributor adjustment is not reflective of a change in actual patient utilization or demand as there was no material change to treprostinil products dispensed by our distributors to patients during 2019.\n\n \n \n\n \n\"Following the positive results of the INCREASE study of Tyvaso® (treprostinil) Inhalation Solution in pulmonary hypertension associated with interstitial lung disease (ILD), we're looking forward to submitting a supplemental new drug application to expand the Tyvaso label mid-year that, if approved, could expand Tyvaso's addressable U.S. population by more than 30,000 patients and help patients with no available approved therapies control their pulmonary hypertension associated with ILD,\" said Martine Rothblatt, Ph.D., Chairman and Chief Executive Officer of United Therapeutics. \"After INCREASE, we're looking forward to continued progress on three new infusion systems for delivery of parenteral treprostinil over the next 18 months: the launch of the Remunity™ system by July of this year, FDA action on the Trevyent® system, and the potential launch of the Implantable System for Remodulin expected next year.\"\nMichael Benkowitz, President and Chief Operating Officer of United Therapeutics, commented, \"Overall, we are pleased wi...