Press release
United Therapeutics Corporation Reports Third Quarter 2020 Financial Results
- Third quarter Orenitram® net revenue growth of 20% and Tyvaso® net revenue growth of 17% year-over-year - Remodulin® sequential quarterly net revenue growth
About this update from United Therapeutics Corporation
[{"type":"text","content":"- Third quarter Orenitram® net revenue growth of 20% and Tyvaso® net revenue growth of 17% year-over-year\n - Remodulin® sequential quarterly net revenue growth of 5%\n - INCREASE sNDA under FDA review with April 2021 action date; Remunity™ launch preparations continue\n\n\nSILVER SPRING, Md. and RESEARCH TRIANGLE PARK, N.C., Oct. 28, 2020 /PRNewswire/ -- United Therapeutics Corporation (Nasdaq: UTHR) today announced its financial results for the quarter ended September 30, 2020.\n\"As our core business continues to perform well, we have a solid footing to enter 2021 with several key product launches including the potential INCREASE product label expansion for Tyvaso, the Remunity Pump for Remodulin, and the Implantable System for Remodulin,\" said Martine Rothblatt, Ph.D., Chairman and Chief Executive Officer of United Therapeutics. \"I expect these three launches will set us on the path to revenue growth in the near term.\"\n\"We are very pleased with the strong year-over-year growth for both Orenitram and Tyvaso,\" said Michael Benkowitz, President and Chief Operating Officer of United Therapeutics. \"Our prostacyclin products are now being used by a larger number of pulmonary arterial hypertension patients in the United States than ever before, as demand has returned to pre-pandemic levels.\"\nTHIRD QUARTER 2020 FINANCIAL RESULTS \nKey financial highlights include (dollars in millions, except per share data):\nThree Months Ended September 30,\nDollar Change\nPercentage Change\n2020\n2019\nRevenues\n$\n380.1\n$\n401.5\n$\n(21.4)\n(5)\n%\nNet income\n$\n171.2\n$\n132.4\n$\n38.8\n29\n%\nNon-GAAP earnings(1)\n$\n173.0\n$\n168.3\n$\n4.7\n3\n%\nNet income, per basic share\n$\n3.86\n$\n3.02\n$\n0.84\n28\n%\nNet income, per diluted share\n$\n3.84\n$\n3.01\n$\n0.83\n28\n%\nNon-GAAP earnings, per diluted share(1)\n$\n3.88\n$\n3.83\n$\n0.05\n1\n%\n________________________\n(1)\nSee definition of non-GAAP earnings, a non-GAAP financial measure, and a reconciliation of net income to non-GAAP earnings below.\nRevenues\nThe table below summarizes the components of total revenues (dollars in millions):\nThree Months Ended September 30,\nDollarChange\nPercentageChange\n2020\n2019\nNet product sales:\nRemodulin®\n$\n124.5\n$\n168.3\n$\n(43.8)\n(26)\n%\nTyvaso®\n129.5\n110.8\n18.7\n17\n%\nOrenitram® \n74.7\n62.0\n12.7\n20\n%\nUnituxin®\n37.6\n...