Silver Spring, MD and Research Triangle Park-based United Therapeutics Corp. reported earnings that soared over analyst estimates for the third quarter of $5.02 a share on revenues of $386.2 million, up 17.1 percent from the same period a year ago. Analysts had estimated earnings at $2.44 a share.
More patients treated with its drugs Orenitram and Adcirca helped drive higher revenues.
Orenitram notched up sales of $34.4 million in the quarter, surpassing the second quarter’s sales of j$25.9 million. New patient starts on the drug were 22 percent higher than in the second quarter.
Remoduln revenues rose 5 percent from a year ago to $150.1 million. Tyvasco and Adcirca added $121.7 million, rising 1.7 percent and 73.8 millionl, up 44 percent respectively.
R&D expenses shrank by 92 percent from a year ago to $9.5 million.
“We are pleased with our third quarter 2015 results as total revenues reached $386 million and each of our pulmonary arterial hypertension products realized their highest revenue levels ever,” said Roger Jeffs, Ph.D., United Therapeutics’ President and Co-Chief Executive Officer said in a statement.
“We are also happy to report the first commercial sales of Unituxin™ for the treatment of high-risk neuroblastoma. These strong financial results will enable us to continue advancing our innovative product pipeline and returning value to our shareholders through our recently announced $500 million share repurchase program.”
The company plans to bring its lead drug, Remodulin to market in an implantable pump system in collaboration with Medtronic.
