United Therapeutics Says 3Q Profit Doubles
From Associated Press (October 27, 2011)
SILVER SPRING, Md. -- United Therapeutics Corp. said Thursday that its profit more than doubled in the third quarter as its sales continued to increase and marketing costs fell.
The drug maker earned $84.4 million, or $1.38 per share, compared to $39.7 million, or 66 cents per share, in the third quarter of 2010. Excluding one-time charges, Its profit amounted to $1.65 per share. Revenue climbed 20 percent, to $201.7 million from $168.6 million.
Analysts expected profit of 73 cents per share on revenue of $194 million, according to FactSet.
United Therapeutics makes three drugs that treat pulmonary arterial hypertension, or high blood pressure in the lungs. Sales of Remodulin grew 5 percent to $114.9 million, while Tyvaso sales increased 36 percent to $66.3 million and Adcirca revenue rose 99 percent to $19.8 million. Eli Lilly sells Adcirca as Cialis, a treatment for impotence.
License fee revenue rose to $772,000 from $339,000. The company said marketing costs dropped by almost two-thirds, to $16.7 million from $45.6 million a year ago.
Shares of United Therapeutics rose $1.84, or 4.4 percent, to $43.32 in afternoon trading.
Posted: October 2011