Press release
United Therapeutics Corporation Reports Third Quarter 2019 Financial Results
SILVER SPRING, Md. and RESEARCH TRIANGLE PARK, N.C., Oct. 30, 2019 /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., Oct. 30, 2019 /PRNewswire/ -- United Therapeutics Corporation (Nasdaq: UTHR) today announced its financial results for the quarter ended September 30, 2019.\n\"We are pleased to see continued growth during the quarter in the total number of U.S. patients treated with our prostacyclin product franchise, consisting of Remodulin, Tyvaso, and Orenitram,\" said Michael Benkowitz, President and Chief Operating Officer of United Therapeutics. \"As we execute toward our commercial goals, we are also continuing to execute toward our clinical goals, which include the recent label update to indicate that Orenitram delays disease progression and continued progress toward near-term phase III clinical trial readouts for DISTINCT, the study of dinutuximab for small cell lung cancer, and INCREASE, the study of pulmonary hypertension associated with interstitial lung disease.\"\nFinancial Results for the Three Months Ended September 30, 2019 compared to the Three Months Ended September 30, 2018\nKey financial highlights include (dollars in millions, except per share data):\nRevenues\nThe table below summarizes the components of total revenues (dollars in millions):\nRevenues for the three months ended September 30, 2019 decreased by $11.2 million as compared to the same period in 2018, driven entirely by a decrease in Adcirca revenues following the onset of generic competition in 2018. Revenues for our other four commercial products grew by $33.1 million in the aggregate for the three months ended September 30, 2019. Additional details regarding each product are discussed below.\nRemodulin net product sales increased by $14.7 million for the three months ended September 30, 2019, as compared to the same period in 2018. $32.7 million of the increase was due to an increase in total quantities sold, primarily to our international distributors, partially offset by a decrease of $13.9 million due to price reductions, primarily to our international distributors, and higher gross-to-net revenue deductions of $4.1 million. During the three months ended September 30, 2019, there was an increase in the number of U.S. patients being treated with Remodulin, as compared to the same period in 2018.\nTyvaso net product sales for the three months ended September 30, 2019 increased by $3.0 million, as compared...