Dec 31, 2021

United Therapeutics Q4 2021 Earnings Report

Reported double-digit percentage revenue and patient count growth in full-year 2021.

Key Takeaways

United Therapeutics Corporation announced its Q4 and full year 2021 financial results. Full year total revenues rose to $1,686 million, driven by an all-time high in U.S. patients being treated with the company’s treprostinil-based therapies during the fourth quarter of 2021.

Full year total revenues rose to $1,686 million.

U.S. patients being treated with the company’s treprostinil-based therapies reached an all-time high during the fourth quarter of 2021.

Company reaffirms target to reach 6,000 patients with Tyvaso by the end of 2022.

Major amendment to Tyvaso DPI™ NDA pushes FDA decision date to May 2022.

Total Revenue
$415M
Previous year: $385M
+7.9%
EPS
$3.51
Previous year: $3.31
+6.0%
Gross Profit
$381M
Previous year: $350M
+8.7%
Cash and Equivalents
$3.58B
Previous year: $2.98B
+20.0%
Free Cash Flow
$104M
Previous year: $114M
-8.7%
Total Assets
$5.17B
Previous year: $4.62B
+12.0%

United Therapeutics

United Therapeutics

United Therapeutics Revenue by Segment

Forward Guidance

United Therapeutics is focused on expanding its patient reach and advancing its research and development programs.

Positive Outlook

  • Targeting 6,000 U.S. patients on Tyvaso by the end of 2022.
  • Targeting 25,000 patients on all of our therapies by the end of 2025.
  • Ongoing phase 3 PERFECT study evaluating Tyvaso in patients with WHO Group 3 pulmonary hypertension associated with chronic obstructive pulmonary disease (PH-COPD).
  • Enrolling two phase 3 clinical studies to support the potential approval of oral ralinepag for PAH.
  • Working to create an unlimited supply of manufactured organs for transplantation.

Challenges Ahead

  • Major amendment to Tyvaso DPI™ NDA pushes FDA decision date to May 2022.
  • Risk that the company will not obtain the necessary FDA approvals to launch Tyvaso DPI.
  • The recent transplants of our xenoheart and xenokidney products demonstrate the tremendous potential of our business model for the second half of the 2020s and beyond.
  • FDA requested additional information concerning the pulmonary safety of Tyvaso DPI related to a pending Citizen's Petition.
  • Subject to risks and uncertainties described in periodic reports filed with the Securities and Exchange Commission, that could cause actual results to differ materially from anticipated results.

Revenue & Expenses

Visualization of income flow from segment revenue to net income