uploads///FE

How United Therapeutics Performed in 1Q18

By

May. 3 2018, Updated 1:07 p.m. ET

Revenue trends

In 1Q18, United Therapeutics (UTHR) generated revenues of $389.2 million compared to $370.5 million in 1Q17. That was a 5% growth YoY (year-over-year) and a 16% decline quarter-over-quarter.

United Therapeutics’ Tyvaso, Adcirca, and Orenitram primarily pushed its revenue growth in 1Q18.

In 1Q18, United Therapeutics reported net income of $244.5 million compared to $178.6 million in 1Q17, which is a 37% growth YoY.

In 1Q18, it reported net earnings per diluted share of $5.57 compared to $3.89 in 1Q17, representing a 43% growth YoY.

Its operating income was $306.9 million in 1Q18 compared to $263.6 million in 1Q17.

Article continues below advertisement

United Therapeutics is currently conducting more than 20 investigational programs that include products for pulmonary hypertension, gene therapy, drug delivery devices, oncology, and transplantable manufactured organs for individuals suffering from last-stage organ disorder. They’re expected to be the company’s long-term growth drivers.

In December 2017, the FDA approved Medtronic’s (MDT) pre-market approval for its Implantable System for Remodulin (or ISR), and further regulatory processes are underway. After the FDA’s decision, United Therapeutics resubmitted its NDA (New Drug Application) for the use of Remodulin in its ISR. The FDA considered it class 2 resubmission, which is subject to a six-month review. United Therapeutics anticipates FDA action by July 30. FDA approval is expected to boost Remodulin sales.

Expense trends

In 1Q18, United Therapeutics reported net cost of product sales of $53.2 million compared to $14.3 million in 1Q17. Adcirca’s royalty expenses of $37.3 million primarily attributed to the increase.

The company reported R&D (research and development) expenses of $35.7 million compared to $36.2 million in 1Q17. The expansion of its pipeline programs for the treatment of cardiopulmonary diseases and cancer primarily attributed to the increase in R&D expenditure.

Reported G&A (general and administrative) and S&M (sales and marketing) expenses were $52.8 million and $13.3 million, respectively, compared to $53.5 million and $15.4 million, respectively, in 1Q17.

In 1Q18, Gilead Sciences (GILD), Pfizer (PFE), and Exelixis (EXEL), peers in the biopharmaceuticals market, generated revenues of $5.1 billion, $12.9 billion, and $212.3 million, respectively.

Advertisement

More From Market Realist

  • Honeywell sign
    Earnings Report
    CNBC Pro Stocks to Buy Before Q1 Earnings
  • Men walking by Morgan Stanley headquarters
    Financials
    Morgan Stanley’s (MS) Stock Forecast Before Q1 Earnings
  • Carnival cruise ship sailing
    Consumer
    Carnival's (CCL) Stock Forecast Before Q1 Business Update
  • GameStop store
    Consumer
    GME's Earnings Are Coming: Will It Be Mayday for Shorts or WallStreetBets?
  • CONNECT with Market Realist
  • Link to Facebook
  • Link to Twitter
  • Link to Instagram
  • Link to Email Subscribe
Market Realist Logo
Do Not Sell My Personal Information

© Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.