UTHR Q1 Earnings & Revenues Beat Estimates on Higher Tyvaso Sales

United Therapeutics’ UTHR first-quarter 2025 earnings of $6.63 per share beat the Zacks Consensus Estimate of $6.29. The figure rose 7% year over year on the back of higher product sales.

United Therapeutics markets four products for pulmonary arterial hypertension (PAH) — Tyvaso, Orenitram, Adcirca and Remodulin. It also markets Unituxin for treating pediatric patients with high-risk neuroblastoma.

Revenues came in at $794.4 million, beating the Zacks Consensus Estimate of $726.2 million. Revenues rose 17% year over year, driven by meaningful growth of key products — Tyvaso, Remodulin and Orenitram. (See the Zacks Earnings Calendar to stay ahead of market-making news.)

More on UTHR’s Q1 Earnings Results

United Therapeutics markets two versions of Tyvaso — Tyvaso dry powder inhalation (DPI) and nebulized Tyvaso. Both versions are approved for treating PAH and pulmonary hypertension associated with interstitial lung disease (PH-ILD) indications.

Overall, Tyvaso sales were $466.3 million, up 25% year over year,

Tyvaso DPI recorded sales of $302.5 million, up 33% year over year, driven by higher volumes and price increases, which were partially offset by higher gross-to-net deductions. Continued growth in commercialization utilization by PH-ILD patients led to patient growth, which, in turn, benefited volumes.

Revenues from nebulized Tyvaso were $163.8 million, up 13%, mainly driven by increased international sales as a result of favorable order timings.

Tyvaso sales surpassed the Zacks Consensus Estimate of $413.6 million and our model estimate of $410.6 million.

Remodulin (including Remunity Pump) sales rose 8% year over year to $138.2 million due to higher volume growth in the United States.

Sales of Orenitram rose 14% year over year to $120.7 million, primarily driven by higher volumes, partly due to increased commercialization following the implementation of the Part D redesign under the Inflation Reduction Act.

Unituxin sales were flat year over year at $58.2 million. Adcirca sales were $6 million, down 6%.

Year to date, shares of United Therapeutics have lost 14.1% compared with the industry’s 2.7% decline.

Research and development expenses were $149 million in the quarter, up 43% year over year due to higher costs incurred for supporting ongoing preclinical and clinical development activities.

Selling, general and administrative expenses surged 18% to $170.1 million in the quarter due to higher personnel expenses as a result of growth in headcount.

UTHR’s Pipeline & Other Update

United Therapeutics’ key phase III programs include Tyvaso in patients with various forms of chronic fibrosing interstitial lung disease (TETON studies) and oral ralinepag in PAH indications (ADVANCE OUTCOMES study).

The TETON 1 and TETON 2 studies are registrational late-stage studies evaluating a nebulized version of Tyvaso for the treatment of idiopathic pulmonary fibrosis (IPF). Enrollment is complete in both studies.

Top-line data from the TETON-2 study is expected in the second half of 2025. Data from the TETON 1 study is expected in the first half of 2026. If the drug is approved in the IPF indication, management expects Tyvaso sales to exceed the drug’s sales in the PAH indication.

A phase III TETON PPF study is also ongoing to evaluate Tyvaso in patients with progressive pulmonary fibrosis.

Data from ralinepag studies are expected next year.

United Therapeutics has different kinds of organ manufacturing products in clinical and preclinical development. These include xenotransplantation, 3-D organ bioprinting, bio-artificial organs, regenerative medicine and ex-vivo lung perfusion.

In February, the FDA cleared its investigational new drug application to start a clinical registration-enabling xenotransplantation study with its investigational UKidney derived from a 10 gene-edited source pig.

United Therapeutics Corporation Price and Consensus

United Therapeutics Corporation price-consensus-chart | United Therapeutics Corporation Quote

UTHR’s Zacks Rank & Stocks to Consider

United Therapeutics currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the biotech sector are Bayer BAYRY, ADMA Biologics Inc. ADMA and Beam Therapeutics Inc. BEAM, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

In the past 60 days, estimates for Bayer’s earnings per share have increased from $1.14 to $1.19 for 2025. During the same time, earnings per share have increased from $1.23 to $1.28 for 2026. Year to date, shares of Bayer have gained 35%. 

BAYRY’s earnings matched estimates in two of the trailing three quarters while missing the same on the remaining occasion, the average negative surprise being 19.61%. 

In the past 60 days, estimates for ADMA Biologics’ earnings per share have increased from 69 cents to 71 cents for 2025. During the same time, earnings per share estimates for 2026 have increased from 87 cents to 93 cents. Year to date, shares of ADMA have rallied 38.8%.

ADMA’s earnings beat estimates in three of the trailing four quarters while missing the same on the remaining occasion, the average surprise being 32.80%.

In the past 60 days, estimates for Beam Therapeutics' loss per share have narrowed from $4.45 to $4.27 for 2025. During the same time, loss per share estimates for 2026 have narrowed from $4.94 to $4.80. Year to date, shares of BEAM have lost 19.6%.

BEAM’s earnings beat estimates in three of the trailing four quarters while missing the same on the remaining occasion, the average surprise being 3.92%.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research