Press release
United Therapeutics Corporation Reports Third Quarter 2021 Financial Results
SILVER SPRING, Md. and RESEARCH TRIANGLE PARK, N.C., Nov. 3, 2021 /PRNewswire/ -- United Therapeutics Corporation (Nasdaq: UTHR), a public benefit corporation
About this update from United Therapeutics Corporation
[{"type":"text","content":"SILVER SPRING, Md. and RESEARCH TRIANGLE PARK, N.C., Nov. 3, 2021 /PRNewswire/ -- United Therapeutics Corporation (Nasdaq: UTHR), a public benefit corporation with a purpose to provide a brighter future for patients, today announced its financial results for the quarter ended September 30, 2021. Total revenue in the third quarter of 2021 grew 17% year over year to $444.7 million, compared to $380.1 million in the third quarter of 2020. \n\"Our momentum continues with growing patient use of our medicines, which are delivered by infusion, inhalation, and tablets,\" said Martine Rothblatt, Ph.D., Chairperson and Chief Executive Officer of United Therapeutics. \"I'm also very excited about the progress of our six phase 3 clinical trials across various forms of pulmonary hypertension and pulmonary fibrosis.\"\n\"We continue to add new Tyvaso® patients following the approval in PH-ILD earlier this year, with approximately 4,000 U.S. patients on Tyvaso therapy at the end of the third quarter,\" said Michael Benkowitz, President and Chief Operating Officer of United Therapeutics. \"Referrals for Tyvaso remain strong, and we're well on our way toward our goal of reaching 6,000 U.S. patients on Tyvaso by the end of 2022.\"\nTHIRD QUARTER 2021 FINANCIAL RESULTS \nKey financial highlights include (dollars in millions, except per share data):\nThree Months Ended \nSeptember 30,\nDollar Change\nPercentageChange\n2021\n2020\nRevenues\n$\n444.7\n$\n380.1\n$\n64.6\n17\n%\nNet income\n$\n162.7\n$\n171.2\n$\n(8.5)\n(5)\n%\nNon-GAAP earnings(1)\n$\n198.0\n$\n173.0\n$\n25.0\n14\n%\nNet income, per basic share\n$\n3.62\n$\n3.86\n$\n(0.24)\n(6)\n%\nNet income, per diluted share\n$\n3.42\n$\n3.84\n$\n(0.42)\n(11)\n%\nNon-GAAP earnings, per diluted share(1)\n$\n4.16\n$\n3.88\n$\n0.28\n7\n%\n(1)\nSee definition of non-GAAP earnings, a non-GAAP financial measure, and a reconciliation of net income to non-GAAP earnings below.\nRevenues\nThe table below summarizes the components of total revenues (dollars in millions):\nThree Months Ended \nSeptember 30,\nDollar Change\nPercentage\nChange\n2021\n2020\nNet product sales:\nTyvaso®\n$\n164.2\n$\n129.5\n$\n34.7\n27\n%\nRemodulin®\n125.4\n124.5\n0.9\n1\n%\nOrenitram® \n85.2\n74.7\n10.5\n14\n%\nUnituxin®\n55.3\n37.6\n17.7\n47\n%\nAdcirca®\n14.6\n13.8\n0.8\n6\n%\n Total revenues\n$\n444.7\n$\n380.1\n$\n64.6\n17\n%...