Avesun/iStock via Getty Images This is my inaugural take on United Therapeutics ( NASDAQ: UTHR ), a commercial stage biotech with long growing earnings and a nice product portfolio. Its lead product generates more than 50% of its revenues. It has been fighting tooth and nail to prevent competitive products from entering the market.
So far, it has been successful in this respect; however, it is running out of options to continue this fight. In this article, I will discuss the general investment merits of United Therapeutics and its big competitive challenge. In this article, I will reference its Q1, 2024: earnings call (the " CALL "); 10-Q (the " 10-Q "); presentation (the " PRESENTATION ").
I also include several references to its latest 10-K (the " 10-K ") With increasing revenues, United Therapeutics has grown its market cap to ~$12 billion The excerpt below from presentation slide 10 sets out United's Q1, 2024 product revenues with their percentage change from Q1, 2023: ir.unither.com Each of its top four products are in strong double-digit growth mode, with only Remodulin lagging in single digit growth.
The Tyvaso (treprostinil) DPI and Nebulized pair lead United's product franchise growth rates by a good margin. They are its largest revenue producer, making up more than 50% of overall product revenue. PRESENTATION slide 25 below provides a longer range view along with more overall granularity on this key product pair; this chart is helpful in distinguishing between the t.
