Press release
United Therapeutics Corporation Reports Third Quarter 2023 Financial Results
SILVER SPRING, Md. & RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)-- United Therapeutics Corporation (Nasdaq: UTHR), a public benefit corporation, today
About this update from United Therapeutics Corporation
[{"type":"text","content":" SILVER SPRING, Md. & RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--\nUnited Therapeutics Corporation (Nasdaq: UTHR), a public benefit corporation, today announced its financial results for the quarter ended September 30, 2023. Total revenues in the third quarter of 2023 grew 18% year-over-year to $609.4 million, compared to $516.0 million in the third quarter of 2022.\n\n\n“It’s a testament to our innovative research and commercial execution that we are again reporting record quarterly revenue and double-digit revenue growth,” said Martine Rothblatt, Ph.D., Chairperson and Chief Executive Officer. “On top of our record results, we continue to progress our near-term pipeline with the ongoing TETON 1 and TETON 2 studies of nebulized Tyvaso in idiopathic pulmonary fibrosis and the ADVANCE OUTCOMES study of ralinepag in pulmonary arterial hypertension, both of which could generate data in 2025.”\n\n\n“With over $600 million in quarterly revenue, we’re well on our way to achieving our expected $4 billion annual run rate by mid-decade,” said Michael Benkowitz, President and Chief Operating Officer. “Our commercial teams achieved meaningful growth in all of our key products, and our recent field force expansion in PH-ILD will help us build on this momentum.”\n\n\nThird Quarter 2023 Financial Results\n\n\nKey financial highlights include (dollars in millions, except per share data):\n\n\n\n\n \n\n\n\n\n\n\nThree Months Ended\nSeptember 30,\n\n\n\n\n\n\n \n\n\n\n\n\n\nDollar\nChange\n\n\n\n\n\n\n \n\n\n\n\n\n\nPercentage\nChange\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nTotal revenues\n\n\n\n\n\n\n$\n\n\n\n\n\n\n609.4\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n516.0\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n93.4\n\n\n\n\n\n\n \n\n\n\n\n\n\n18\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nNet income\n\n\n\n\n\n\n$\n\n\n\n\n\n\n267.6\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n239.3\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n28.3\n\n\n\n\n\n\n \n\n\n\n\n\n\n12\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nNet income, per basic share\n\n\n\n\n\n\n$\n\n\n\n\n\n\n5.71\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n5.26\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n0.45\n\n\n\n\n\...