Press release
United Therapeutics Corporation Reports Fourth Quarter And Full Year 2020 Financial Results
SILVER SPRING, Md. and RESEARCH TRIANGLE PARK, N.C., Feb. 24, 2021 /PRNewswire/ -- United Therapeutics Corporation (Nasdaq: UTHR) today announced its
About this update from United Therapeutics Corporation
[{"type":"text","content":"SILVER SPRING, Md. and RESEARCH TRIANGLE PARK, N.C., Feb. 24, 2021 /PRNewswire/ -- United Therapeutics Corporation (Nasdaq: UTHR) today announced its financial results for the fourth quarter and year ended December 31, 2020. Full year net revenue rose to $1,483 million, as U.S. patients being treated with the company's treprostinil-based therapies reached an all-time high during the fourth quarter.\n\"We're entering 2021 better positioned than at any time in our history,\" said Martine Rothblatt, Ph.D., Chairman and Chief Executive Officer of United Therapeutics. \"We are working toward four product launches this year, led by the recent launch of the Remunity® Pump and followed by the upcoming Tyvaso® label expansion into pulmonary hypertension associated with interstitial lung disease (PH-ILD), the Implantable System for Remodulin® (ISR), and the innovative Tyvaso DPI™ device, assuming we receive the relevant FDA approvals. At the same time, our development teams continue to drive innovation in the pulmonary hypertension space as detailed in the recent New England Journal of Medicine publication of our INCREASE data in PH-ILD and our recent announcement of Tyvaso DPI clinical data, which suggest a comparable systemic treprostinil exposure to our approved Tyvaso Inhalation System.\"\n\"We are pleased that our treprostinil-based products achieved another record year of annual net revenues and total U.S. patients on therapy, trends we expect to continue, fueled by our four planned product launches this year,\" said Michael Benkowitz, President and Chief Operating Officer of United Therapeutics. \"We are deep into commercial launch preparations for Tyvaso in PH-ILD and expect that this indication could expand the use of Tyvaso to more than double the current number of patients on therapy in the near term. Additionally, we're focused on the ISR and the Tyvaso DPI launches targeted for later this year.\"\nFOURTH QUARTER AND FULL YEAR 2020 FINANCIAL RESULTS\nKey financial highlights include (dollars in millions, except per share data):\nThree Months EndedDecember 31,\nYear EndedDecember 31,\n2020\n2019\n2020\n2019\nRevenues\n$\n384.9\n$\n311.1\n$\n1,483.3\n$\n1,448.8\nNet income (loss)\n$\n98.8\n$\n52.6\n$\n514.8\n$\n(104.5)\nNon-GAAP earnings(1)\n$\n149.3\n$\n86.3\n$\n644.7\n$\n569.2\nNet income (loss), per basic share\n$\n2.22\n$\n1...