United Therapeutics 2Q profit climbs 10 percent
United Therapeutics 2nd quarter profit climbs 10 percent, as cardiopulmonary drug sales rise
SILVER SPRING, Md. (AP) -- United Therapeutics saw earnings jump 10 percent in its second quarter, topping Wall Street expectations thanks to strong sales of its cardiopulmonary products.
The Silver Spring, Md., company posted earnings of $79.9 million, or $1.52 per share, in the three months that ended June 30. That's up from $72.3 million, or $1.34 per share, in last year's quarter.
Revenue climbed 24 percent to $280.6 million.
Analysts expected, on average, earnings of $1.46 per share on $251.2 million in revenue.
United Therapeutics makes three drugs that treat pulmonary arterial hypertension, or high blood pressure in the lungs. Revenue from its top seller, Remodulin, climbed about 13 percent to $124.3 million. Tyvaso revenue jumped 35 percent to $109.5 million, and Adcirca was up 45 percent to $43.7 million.
The company's selling, general and administrative expense also rose 34 percent to $71.4 million in part due to an increase in share-based compensation caused by the appreciation of the company's stock.
United Therapeutics shares closed at $70.61 on Wednesday, up 32 percent for the year.
