Q3 2024 United Therapeutics Corp Earnings Call Transcript
Key Points
- United Therapeutics Corp (UTHR) reported record-breaking revenue of $749 million for the quarter, marking a 23% growth from the previous year.
- The company achieved a $3 billion revenue run rate just eight quarters after surpassing the $2 billion mark, demonstrating significant growth momentum.
- United Therapeutics Corp (UTHR) has a strong pipeline with several important data reads and potential regulatory decisions expected over the next 36 months.
- The company successfully completed a $1 billion accelerated share repurchase program, reducing outstanding shares by approximately 7%.
- United Therapeutics Corp (UTHR) is making progress in revolutionary organ alternative technology, with ongoing clinical studies and regulatory feedback from the FDA.
- The company recorded a litigation accrual of $65.1 million in connection with a potential judgment in the Sandoz case, which could impact future financials.
- Despite strong U.S. revenue growth, worldwide revenue for Remodulin saw a slight decline of 2% due to international order timing.
- There is uncertainty regarding the widespread adoption of transitioning patients from Remodulin to Orenitram, as it is not yet a widely used practice.
- The company faces competition in the market, which may impact future revenue growth and market share.
- United Therapeutics Corp (UTHR) has entered into payer contracts that may result in higher gross-to-net adjustments, potentially affecting profitability.
In 2025 we expect FDI action on our recently submitted pre market approval application for our centralized long evaluation systems or see less ex-vivo lung perfusion technology.
Beyond our record-setting commercial performance, we expect a steady stream of clinical data readouts and regulatory actions through the next 36 months, setting our company up well for continued growth through the balance of the decade.
Our revolution wave is also making tangible progress toward reality. With our Phase one study for Mirel, liver E lap now underway the first clinical study of a bioengineered organ alternative.
We expect data from this initial safety study in 2025. Also within our revolution way, we recently received feedback from the FDA regarding our IND for new kidney 10 gene, added xeno kidney and we expect to track to file our IND shortly for what will be the first clinical study of xeno organ.
We look forward to sharing more details on our clinical trial design and commercial
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