The following is a summary of the United Therapeutics Corporation (UTHR) Q1 2024 Earnings Call Transcript:

Financial Performance:

• United Therapeutics reported a record Q1 revenue of $678 million, a growth of 34% from the first quarter of 2023.

• The company commenced a $1 billion accelerated share repurchase program, with Citibank repurchasing approximately 3.3 million UTHR shares.

• Product-wise, Tyvaso earned revenue of $373 million (up by 56%), Orenitram's revenue hit $106 million (up by 20%), Remodulin's worldwide revenue was $128 million (up by 5%), and Unituxin revenue reached $58 million (up by 19%).

Business Progress:

• Three capital allocation priorities were identified: investing in commercial and R&D opportunities (such as expanding the North Carolina manufacturing facility), pursuing business development opportunities, and returning capital to shareholders.

• The company is progressing in Phase 3 trials for different forms of pulmonary fibrosis, with the TETON trials noted as being in progress, and has sought European patent for its Ralinepag treatment.

• Developments in xenotransplantation were highlighted, including building a facility capable of transplanting over 100 xeno hearts and 200 xeno kidneys each year.

• The company reported a 10-15% increase in monthly referrals for DPI and nebulizer, and is leveraging a larger sales force to boost Tyvaso sales.

• The overall product portfolio growth, increased marketing influence, and commercial expertise were highlighted as key factors contributing to the company's growth in PAH and PH-ILD.

More details: United Therapeutics IR

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