United Therapeutics Q1 2020 Earnings Report
Key Takeaways
United Therapeutics Corporation announced its financial results for the quarter ended March 31, 2020. First quarter net revenue decreased 2% to $356.3 million year-over-year. First quarter diluted earnings per share (EPS) was $3.12 compared to an $11.32 per share loss in the first quarter of 2019. Non-GAAP diluted EPS of $3.61 was up 1% from the first quarter of 2019.
First quarter Orenitram® net revenue growth of 18% year-over-year
Major milestones such as the INCREASE filing and Remunity™ Pump launch remain on track despite the COVID-19 pandemic
Diluted earnings per share (EPS) was $3.12 compared to an $11.32 per share loss in the first quarter of 2019
United Therapeutics is engaged in the fight against COVID-19
United Therapeutics
United Therapeutics
United Therapeutics Revenue by Segment
Forward Guidance
Due to the rapidly evolving situation with COVID-19, United Therapeutics is no longer able to predict whether their full-year 2020 net revenues will grow compared to 2019.
Positive Outlook
- Financial position is strong with enough cash, cash equivalents, and marketable securities on hand to fund operations for at least two years.
- Have an ample supply of products with sufficient inventory of finished treprostinil-based products to supply the market for two years at current levels of demand.
- Manufacturing of treprostinil-based products continues mostly as usual, and do not currently anticipate any supply shortages.
- Distribution of drug product to patients continues without interruption.
- Planned regulatory activities and interactions with the FDA continue.
Challenges Ahead
- It is too early to predict what impact this pandemic, and the associated economic downturn, will have on our business.
- There is considerable uncertainty and lack of visibility regarding our near-term revenue growth prospects and product development plans due to the rapidly evolving situation.
- Observed a decline in new prescriptions from our treprostinil-based products during the month of April 2020 that we believe is primarily due to the inability of patients to visit their physicians’ offices.
- Commercial efforts continue but could be disrupted as a result of the COVID-19 pandemic.
- Most of our ongoing clinical studies have paused enrollment during the pandemic.
Revenue & Expenses
Visualization of income flow from segment revenue to net income