Market Overview

United Therapeutics Corporation Reports Third Quarter 2019 Financial Results

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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.

"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."

Financial Results for the Three Months Ended September 30, 2019 compared to the Three Months Ended September 30, 2018

Key financial highlights include (dollars in millions, except per share data):





Three Months Ended
September 30,



Dollar



Percentage




2019



2018



Change



Change


Revenues


$

401.5



$

412.7



$

(11.2)




(3)

%

Net income


$

132.4



$

106.5



$

25.9




24

%

Non-GAAP earnings(1)


$

168.3



$

174.9



$

(4.6)




(3)

%

Net income, per basic share


$

3.02



$

2.44



$

0.58




24

%

Net income, per diluted share


$

3.01



$

2.42



$

0.59




24

%

Non-GAAP earnings, per diluted share(1)


$

3.83



$

3.98



$

(0.15)




(4)

%


(1)

See definition of non-GAAP earnings, a non-GAAP financial measure, and a reconciliation of net income to non-GAAP earnings below.

Revenues

The table below summarizes the components of total revenues (dollars in millions):



Three Months Ended
September 30,



Dollar



Percentage




2019



2018



Change



Change


Net product sales:

















Remodulin®


$

168.3

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