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United Therapeutics — Third Quarter 2026 Earnings Summary

  • Total revenues rose 4% year-over-year to $832.5 million, while net income fell 24% to $258.6 million ($5.71 per diluted share) due to a 119% surge in R&D expenses and a higher effective tax rate.
  • Product performance was mixed: Tyvaso DPI sales grew 13% and Orenitram rose 11%, whereas Nebulized Tyvaso declined 12% and Adcirca dropped 54% amid competitive pressures.
  • Strategic activity included a $125.2 million acquisition-related expense from Thymmune Therapeutics, a $67.3 million litigation accrual reversal, and the completion of ~$1.98 billion in accelerated share repurchases under the March 2026 program.
  • Management highlighted a "record" quarter with a "strongest growth outlook in our history," supported by a new $2.0 billion share repurchase authorization approved in October 2026 and a cash position of $3.54 billion.
Company
UNITED THERAPEUTICS CORP
Sector
Healthcare
Industry
Biotechnology