United Therapeutics Reports 12% Revenue Growth to $798.6 Million in Q2 2025

United Therapeutics Corporation reported significant financial performance improvements in its latest quarterly filing for the period ending June 30, 2025. The company achieved total revenues of $798.6 million for the second quarter, marking a 12% increase from $714.9 million in the same period of 2024. For the first half of 2025, revenues reached $1.593 billion, up 14% from $1.393 billion year-over-year. The net income for the second quarter was $309.5 million, compared to $278.1 million in the prior year, resulting in a diluted earnings per share of $6.41, up from $5.85.

The financial results reflect a notable increase in sales of the company's flagship products, particularly Tyvaso DPI and Nebulized Tyvaso. Tyvaso DPI sales rose 22% to $315.2 million in the second quarter, while Nebulized Tyvaso sales increased by 10% to $154.4 million. The growth in these product lines is attributed to a rise in patient numbers and increased utilization, particularly among patients with pulmonary hypertension associated with interstitial lung disease (PH-ILD). The company also noted that the implementation of the Medicare Part D benefit redesign under the Inflation Reduction Act contributed to the increased commercial utilization of its products.

In terms of operational developments, United Therapeutics has expanded its market presence and product offerings. The company recently launched the RemunityPRO™ infusion system, which is designed to enhance the patient experience with Remodulin. Additionally, the company is actively engaged in clinical trials for its pipeline products, including Nebulized Tyvaso for idiopathic pulmonary fibrosis (IPF) and ralinepag for pulmonary arterial hypertension (PAH). The company has also made strategic investments in facilities to support its growth, including a new property acquisition in Research Triangle Park, North Carolina, for $107 million.

The company’s balance sheet remains strong, with total assets increasing to $7.908 billion as of June 30, 2025, up from $7.364 billion at the end of 2024. Cash and cash equivalents decreased slightly to $1.593 billion, while marketable investments increased significantly, reflecting a strategic shift in investment management. The company’s total liabilities decreased to $734.4 million, down from $920 million, indicating improved financial health. Looking ahead, United Therapeutics anticipates continued revenue growth driven by expanding patient access to its therapies and the potential for new product launches, despite facing increased competition from generic products and new entrants in the market.