United Therapeutics reported strong financial results for Q3 2024, with total revenues increasing 23% to $748.9 million compared to $609.4 million in Q3 2023. Net income rose 16% to $309.1 million from $267.6 million year-over-year. The growth was primarily driven by Tyvaso product sales, which grew 33% to $433.8 million, led by Tyvaso DPI's 34% increase to $274.6 million.Operating expenses increased to $405.8 million from $282.4 million, including a $65.1 million litigation accrual related to ongoing litigation with Sandoz. The company maintained a strong balance sheet with $4.6 billion in cash and investments as of September 30, 2024. During the quarter, United Therapeutics completed its $1 billion share repurchase program, repurchasing approximately 3.5 million shares.The company continues to advance its pipeline, including phase 3 trials of nebulized Tyvaso for IPF and PPF indications, and the ADVANCE OUTCOMES study of ralinepag for PAH. Management highlighted progress in xenotransplantation programs, with plans to submit an IND for the UKidney product following recent FDA feedback. The company also expanded manufacturing capacity with a new clinical-scale designated pathogen-free facility in Virginia.

United Therapeutics reported strong financial results for Q3 2024, with total revenues increasing 23% to $748.9 million compared to $609.4 million in Q3 2023. Net income rose 16% to $309.1 million from $267.6 million year-over-year. The growth was primarily driven by Tyvaso product sales, which grew 33% to $433.8 million, led by Tyvaso DPI's 34% increase to $274.6 million.Operating expenses increased to $405.8 million from $282.4 million, including a $65.1 million litigation accrual related to ongoing litigation with Sandoz. The company maintained a strong balance sheet with $4.6 billion in cash and investments as of September 30, 2024. During the quarter, United Therapeutics completed its $1 billion share repurchase program, repurchasing approximately 3.5 million shares.The company continues to advance its pipeline, including phase 3 trials of nebulized Tyvaso for IPF and PPF indications, and the ADVANCE OUTCOMES study of ralinepag for PAH. Management highlighted progress in xenotransplantation programs, with plans to submit an IND for the UKidney product following recent FDA feedback. The company also expanded manufacturing capacity with a new clinical-scale designated pathogen-free facility in Virginia.