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Sep 30, 2020
United Therapeutics Q3 2020 Earnings Report
United Therapeutics' financial performance reflected strong growth in Orenitram® and Tyvaso® net revenue, offset by a decline in overall revenues due to decreased Remodulin® and Adcirca® sales. The company is preparing for several key product launches in 2021.
Key Takeaways
United Therapeutics reported a decrease in total revenues by 5% year-over-year, but experienced growth in Orenitram® and Tyvaso® net revenues. Net income increased by 29% and the company is preparing for multiple product launches in 2021.
Orenitram® net revenue increased by 20% year-over-year.
Tyvaso® net revenue increased by 17% year-over-year.
Remodulin® sequential quarterly net revenue grew by 5%.
INCREASE sNDA is under FDA review with an action date in April 2021; Remunity™ launch preparations are ongoing.
Revenue by Segment
Forward Guidance
United Therapeutics anticipates launching Tyvaso for a new indication, along with Remunity Pump, Trevyent system, and Implantable System for Remodulin in the near-term.
Positive Outlook
- Potential INCREASE product label expansion for Tyvaso
- Launch of the Remunity Pump for Remodulin
- Launch of the Implantable System for Remodulin
- Resumption of enrollment in several clinical studies
- Focus on pediatric use of Unituxin
Challenges Ahead
- Delays in commercial sales of Remunity Pump due to pandemic-related supply chain issues
- Complete response letter from FDA regarding Trevyent NDA
- Delay in ISR launch until 2021 due to Medtronic satisfying PMA approval conditions
- Potential delays in completion and data readouts for ongoing and planned studies due to the pandemic
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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