Please ensure Javascript is enabled for purposes of website accessibility

United Therapeutics Corporation (UTHR) Q2 2021 Earnings Call Transcript

By Motley Fool Transcribers – Aug 4, 2021 at 12:30PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

UTHR earnings call for the period ending June 30, 2021.

Logo of jester cap with thought bubble.

Image source: The Motley Fool.

United Therapeutics Corporation (UTHR 0.17%)
Q2 2021 Earnings Call
Aug 4, 2021, 9:00 a.m. ET

Contents:

  • Prepared Remarks
  • Questions and Answers
  • Call Participants

Prepared Remarks:

Operator

Good morning and welcome to the United Therapeutics Corporation's Second Quarter 2021 Earnings Webcast. My name is Stephanie and I will be your conference operator today. [Operator Instructions]

I will now turn the webcast over to Mr. Dewey Steadman, Head of Investor Relations at United Therapeutics. Please go ahead.

10 stocks we like better than United Therapeutics
When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* 

They just revealed what they believe are the ten best stocks for investors to buy right now... and United Therapeutics wasn't one of them! That's right -- they think these 10 stocks are even better buys.

See the 10 stocks

*Stock Advisor returns as of June 7, 2021

Dewey Steadman -- Head of Investor Relations

Good morning. It's my pleasure to welcome you to the United Therapeutics Corporation second quarter 2021 earnings webcast. Accompanying me on today's webcast are Dr. Martine Rothblatt, our Chairperson, and Chief Executive Officer; Mr. Michael Benkowitz, our President and Chief Operating Officer; Mr. James Edgemond, our Chief Financial Officer and Treasurer; and Dr. Leigh Peterson, our Senior Vice President of Product Development.

Remarks today will include forward-looking statements representing our expectations or beliefs regarding future events. These statements involve risks and uncertainties that may cause actual results to differ materially. Our latest SEC filings, including Form 10-K and 10-Q, contain additional information on these risks and uncertainties and we assume no obligation to update these forward-looking statements.

Today's remarks may also include financial measures that were not prepared in accordance with U.S. Generally Accepted Accounting Principles or GAAP. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures can be found on our earnings release available on our website at ir.unither.com.

Today's remarks may discuss the progress and results of clinical trials or other developments with respect to our products. These remarks are intended solely to educate investors and are not intended to serve as the basis for medical decision-making or to suggest that any products are safer and effective for any unapproved or investigational uses. Full prescribing information for our products are available on our website.

Now, I'll turn the webcast over to Dr. Rothblatt for a review of our second quarter 2021 financial results and business activities of United Therapeutics. Martine?

Martine Rothblatt -- Founder Chairperson, Chief Executive Officer, and Director

Thanks, Dewey. Good morning everyone and thank you for joining us on our quarterly earnings call. We have a lot of good news to share today, so it's going to be a very fun call. You've read in the press release the outstanding financial results and, in a moment, I'm going to turn the mic over to Mike Benkowitz, who will speak a little bit more about the commercial success that we're experiencing.

I'd like to talk a little bit about our pipeline, which is quite robust and doing very well. We have a number of studies in Phase 3. I'd like to highlight a few of them. Two of our studies are outside of Group 1 PAH, the PERFECT study in COPD, specifically a form of COPD that's associated with pulmonary hypertension, and another Phase 3 study in idiopathic pulmonary fibrosis also known as IPF. That study is called the TETON study within United Therapeutics. In addition to those Phase 3 studies, we have additional Phase 3 studies within Group 1 pulmonary hypertension. Two of those Phase 3 studies are using our once-a-day drug called Ralinepag and both of those studies are growing quite nicely.

In addition, we have a lot of next-generation treprostinil development activity that will be in -- some of it's in Phase 1 and then moving into bioequivalence testing over the next year or two. So that will provide an ongoing pipeline of next-generation treprostinil products for Group 1 and possibly also Group 3 pulmonary hypertension.

Looking a little bit at the longer term, we're working on cures for pulmonary hypertension, either through gene therapy, and we do have a gene therapy trial, also in Phase 3, or actually manufactured lungs; lungs that are manufactured in our laboratories and then transplanted into patients to completely cure, either their pulmonary hypertension, pulmonary fibrosis or many other end-stage lung diseases.

In the meantime, on the clinical side, there is increasing evidence that current medicines, dosed appropriately, may, in fact, convert pulmonary hypertension into a lifelong manageable condition. And a lot of these data are coming from Europe and Japan. I think you're going to soon see more reports from the United States, but it's really startling to see reports with patients -- more than 90% of the patients in the cohort living 20 years, over 10 years with current medications but dosed differently than kind of the traditional dosing; dosing or dosed according to a very specific protocol. So that's tremendously exciting for us in the pulmonary hypertension field to be able to convert pulmonary hypertension into a lifelong manageable condition. And, indeed, the goal of our next-generation treprostinil products is to make these kind of lifelong manageable protocols as easy as possible for the patients because they'll be on them for, literally, decades.

Well, with that introduction to our pipeline and clinical development activities, I'd like to pass the microphone over to Mike Benkowitz to talk about the commercial operations. Mike?

Michael Benkowitz -- President and Chief Operating Officer

Thanks, Martine, and good morning everyone. The second quarter was a very exciting quarter for United Therapeutics on the commercial front as we began our push into new rare lung disease indications outside of pulmonary arterial hypertension. I'm pleased to report that we achieved several milestones in the second quarter at a treprostinil franchise level.

First, we ended the second quarter with a record number of U.S. patients on our treprostinil therapies, marking the fourth consecutive quarter of total treprostinil patient growth. Second, we achieved an all-time high in two of our key underlying U.S. demand metrics: total treprostinil prescriptions; and total treprostinil actual patient starts. Finally, while we always caution that revenues don't necessarily reflect underlying demand for our products to the ordering patterns of our specialty pharmacy and distribution partners, we're excited to have achieved record treprostinil revenue in the quarter.

Now, I'd like to spend a few minutes talking about individual product performance. Of course, we're very excited to have launched Tyvaso at the pulmonary hypertension associated with interstitial lung disease at the beginning of the second quarter. Earlier this year, we established a goal to double the number of patients on Tyvaso by the end of next year, assuming no COVID-related impact to HCP access and patient initiation of therapy and, importantly, recognizing that the path to doubling may not be linear. In the first quarter of the launch, we have established strong momentum and as of the end of Q2, we're already more than one-sixth of the way to our goal of doubling the number of patients on Tyvaso through the PH-ILD label expansion. We're also very encouraged by the prescription and start patterns in Q2, which are double or more than double the quarterly referral and start levels in 2020.

On the reimbursement front, we continue to work with CMS to update their policy to cover Tyvaso for the treatment of PH-ILD. We remain confident that this update will happen, but cannot predict its timing due to the government's processes and procedures. In the meantime, Medicare/Medicaid patients can apply and have been applying to our patient assistance program. If they meet our patient assistance program eligibility criteria, they can initiate Tyvaso therapy immediately. Once CMS updates their coverage policy, Medicare/Medicaid patients will be able to start on commercial drug.

Moving on to Remodulin. We were very pleased to see, in Q2, the highest number of prescriptions and starts for Remodulin in the past 12 years. We believe there are several factors contributing to this. First, as we mentioned last year, Remodulin therapy initiation was most impacted by the pandemic for a period of time as many patients were unable to come into the hospital to start on Remodulin. We believe this created a so-called warehousing of patients that started to open up in Q3 of last year and continued into Q2. In addition, there is renewed appreciation of the clinical benefits of Remodulin for PAH patients. For example, the ability to move patients to low-risk status and then potentially transition to oral prostacyclin such as Orenitram and, as Martine mentioned, recently published retrospective data showing that use of Remodulin can reduce impact or mean pulmonary arterial pressure and if impact is reduced below 40 millimeters of mercury, there can be a dramatic improvement in long-term survival.

The competitive landscape did change in the second quarter for Remodulin as a generic form of subcutaneous treprostinil became available. At this point, the subcu generic launch look very similar to the IV generic launch we saw in 2019. There has been an initial bolus of subcu Remodulin patients, similar in quantity to what we saw with IV, in primarily these dual eligible Medicare/Medicaid patients that have been force-switched to generic treprostinil. However, the base of patients we have now is higher than when IV generic launched. We still see that PAH staffs prefer branded Remodulin over the generic alternatives when they are filling out their prescriptions and we have yet to see widespread payor management of these patients.

It's also important to note some of the potential limitations around generic subcu availability. It's our understanding that this product is only being offered by one of the specialty pharmacies that distribute PAH medicines. It's also our understanding that the subcu pumps that are currently being used with generic treprostinil are limited in supply. Meanwhile, we have invested in the supply of pumps and disposables, including the new Remunity Pump and believe that we're well-positioned to serve Remodulin patients for the long term.

Orenitram also had a strong quarter, posting new prescriptions and starts in the second quarter that were one of the highest since the product's launch, and total patients on therapy that were the highest ever. I've mentioned in previous calls and investor conferences that while we saw an uptick on Orenitram following the FREEDOM-EV label expansion, the launch trajectory was blunted by COVID. In the second quarter of this year, we were able to have consistently more robust interactions with prescribers about FREEDOM-EV and the total Orenitram value proposition, and we believe that translated into the underlying demand performance we're seeing. If we can maintain this momentum going forward, we expect this to show up on the revenue line in subsequent quarters as patients titrate to an efficacious dose and ordering by specialty pharmacies, which often lags underlying demand, catches up.

With respect to Unituxin, we are extremely pleased to see second quarter demand continue at a similar pace to the first quarter. We have limited visibility into how the drug is being used, but we know use has increased in the U.S. Moreover, Unituxin was approved in Japan in the second quarter with an indication that's actually broader than the U.S. label. Consequently, our Japanese distribution partner, Ohara, ordered a larger-than-expected amount of Unituxin in the quarter.

Finally, we're excited about our pending application at FDA for Tyvaso DPI. We're pleased that the PAI, a general facility inspection, at our partner MannKind's Danbury, Connecticut facility has commenced as scheduled and is ongoing. Our PDUFA action date is in October of this year and we're working hard to build launch quantities and mobilizing our commercial teams to support the launch soon after approval.

So there's a lot of positive things happening on the commercial front. We remain focused on executing against our plans through the second half of the year, and, importantly, making progress toward our near-term goal of doubling the number of patients on Tyvaso by the end of 2022.

With that, Martine, I'll turn the call back over to you.

Martine Rothblatt -- Founder Chairperson, Chief Executive Officer, and Director

Thanks so much, Mike, great review. So, operator, we can now open up the lines for any questions. And whatever questions come in, I'll direct them either to James, our CFO; to Mike, our President; or any questions of a scientific, medical, technical nature to Dr. Peterson. Operator?

Questions and Answers:

Operator

Thank you. [Operator Instructions] And your first question is from the line of Jessica Fye with J.P. Morgan.

Jessica Fye -- J.P. Morgan -- Analyst

Hey. Nice quarter this morning. You guys said you're well on your way to the goal of doubling the number of patients on Tyvaso but also that the path may not be linear. So can you share your latest thinking on the shape of the curve to get to that year-end '22 goal? And related to that, you also mentioned that ordering patterns can factor into revenue, not perfectly aligning with patient demand. So how should we think about that dynamic going forward, say, in the back half of the year? Thank you.

Martine Rothblatt -- Founder Chairperson, Chief Executive Officer, and Director

Thanks, Jess. Nice to hear your voice this morning. Both of those questions seem to be squarely in Mike's bailiwick.

Michael Benkowitz -- President and Chief Operating Officer

Sure. I think on the first part of the question around the shape of the curve, I think we're still trying to get better visibility into what that looks like. And I think the question that we're still trying to get some insight into is the patients that are residing with the PH-ILD treaters and how quickly those patients are getting referred -- either getting referred over to PAH clinic or these PH-ILD treaters are starting to activate and treat patients on their own. So that -- we're still getting the insights on that, we don't have perfect clarity. I think -- I'm hoping through Q3 into Q4, we'll get a better sense of that. So that's still why I'm still thinking that it's maybe not going to necessarily be a linear and maybe potentially more hockey stick-ish as we get into 2022. But I think we'll have a little bit better visibility on that as we get into -- later into the second half of the year.

On the ordering patterns, I mean it's -- this is always an issue that we've always had. The specialty pharmacies have days on inventory requirements, pre-order contracts that they have to keep on hand. They have an algorithm they look at that takes into account historical shipment data, as well as prospective estimated demand. And with that, we've got to agree upon level of ordering that has to happen. And so, beyond that, it's really just sort of kind of normal course of business. And so as we start to kind of see referrals to start on the Tyvaso side of things pick up, I would expect the orders to pick up as we go along.

Martine Rothblatt -- Founder Chairperson, Chief Executive Officer, and Director

Perfect. Thanks so much, Mike. Next question, please?

Operator

Your next question is from the line of Hartaj Singh with Oppenheimer and Company.

Martine Rothblatt -- Founder Chairperson, Chief Executive Officer, and Director

Hi, Hartaj. Good morning.

Hartaj Singh -- Oppenheimer & Co. -- Analyst

Hey, good morning, Martine. Pleasure to hear your voice. Thank you for the question, and a nice quarter. The question I had was on COPD and IPF. Martine, you pointed those out at the beginning in terms of the prepared script. Could you just talk a little bit about the scientific rationale behind Tyvaso inhale for COPD and IPF? And then, specifically, when do you expect the readouts for both patient enrollment to complete and readouts to happen for COPD and IPF? Thank you.

Martine Rothblatt -- Founder Chairperson, Chief Executive Officer, and Director

Yeah, great question, Hartaj. I'll speak for a moment or two about the Group 3 COPD pulmonary hypertension and let -- while I'm doing that, Dr. Peterson, if you could queue up your thoughts on the scientific rationale in IPF, which is unique in the sense that it has nothing to do with pulmonary hypertension at all. And Dr. Peterson has studied that scientific rationale quite a bit.

So with regard to the COPD, we're not treating the COPD per se, but we're treating only the pulmonary hypertension that those patients have, who also have COPD. We're doing this based on previous work from Dr. Waxman and others that showed that when Group 3 patients with COPD were treated off label with Tyvaso, they had dramatically improved six-minute walk scores, Hartaj. And it was based on that data that we were able to size our PERFECT study. It's about roughly 100 patients, a bit more than 100 patients and we felt very confident with that sizing because of the very dramatic data that had could come out earlier. So it is the mechanism of action is the same as it would be for treating any other type of pulmonary hypertension.

We've got the ability of treprostinil to, for example, dilate the smooth muscles in the pulmonary arteries, which are causing the vessel constriction. And we also have the ability of Tyvaso inhale to reduce the platelet aggregation in those tiny arterials, which also contribute to ultimately a after-load in the right heart and actually spells a worse morbidity and mortality picture for the COPD patients who have pulmonary hypertension than for those who don't. There are a lot of patients, Hartaj, with the COPD form of pulmonary hypertension, in fact, over 100,000 in the U.S. alone. So there is a real great opportunity for us to do good there and I think the scientific rationale, the empirical data upon which we sized and based the PERFECT study was very solid and we have high expectations for success. Dr. Peterson, would you like to talk about the scientific rationale in pulmonary fibrosis because that's something really very new?

Leigh Peterson -- Vice President, Product Development

Yeah. Yeah, sure. Thanks, Martine. And thanks for the question. So really what came -- one of the things that came out of the INCREASE study, in addition to meeting our primary endpoints and everything that's been published so far, including New England Journal, is that we published a paper in The Lancet recently and it describes the surprise, sort of, that we saw which was that we saw an improvement in FVC which is Forced Vital Capacity. And this indicated that Tyvaso might not only work on the pulmonary hypertension component of the disease, but it might actually work on the fibrotic disease in patients with PH-ILD. And that's actually supported by -- so we saw this clinically, and that's actually supported by non-clinical evidence where there's been several studies that have shown us the anti-fibrotic effect of treprostinil. So that together made us design and think about what's going on and think that possibly this could also work in patients with IPF without pulmonary hypertension; so again evidenced in INCREASE and evidenced in non-clinical studies, both in-vitro and in-vivo.

And just to reiterate what Martine just said, so for PH-ILD and PH-COPD, obviously, as you mentioned, there is a common pathogenesis for the PH component, but, in fact, due to these other effects of treprostinil; treprostinil binds multiple receptors on multiple cell types and has multiple mechanisms of actions, there are additional actions such as the fibrosis that can work specifically in patients with fibrotic lung disease and there is even a bronchodilation effect that could also help the patients with obstructive lung conditions such as COPD.

Martine Rothblatt -- Founder Chairperson, Chief Executive Officer, and Director

Perfect. Thanks so much, Dr. Peterson. Operator, next question, please?

Operator

Your next question is from the line of Joseph Thome with Cowen and Company.

Joseph Thome -- Cowen and Company -- Analyst

Hi, there. Good morning and thank you for taking my question and congratulations on great progress. Maybe one more just a little bit on the reimbursement environment for PH-ILD, if you can comment a little bit more on that. How many, kind of, patients that if they're prescribed the therapy, are they able to actually get Tyvaso right now for the most part? And, obviously, we know this is essentially the first therapy probably approved in this indication, are you seeing any sort of considerations for prior therapies that patients need to have seen or specific levels of disease burden?

Martine Rothblatt -- Founder Chairperson, Chief Executive Officer, and Director

Yeah, thanks for the question. It's -- all of our strategic operations and managed markets activities report in to Mike. So, Mike, if you could provide some insight on that question?

Michael Benkowitz -- President and Chief Operating Officer

Sure. Joe, so in terms of disease severity or prior therapies, we're not seeing any requirements there as I think you know this is really the first and only treatment that's on the market to treat the pulmonary hypertension associated with the ILD. The other drugs are treating current -- they're treating underlying lung disease. So we're not seeing any issues there. I would say on the kind of the private payor side of things, those prescriptions that are coming in for PAH -ILD patients are going through with little to no issue.

And then on the -- like I said, on the CMS side, we're waiting for the CMS approval which -- that process is ongoing. They've accepted our application. They're just going through their, like I said, their policies and procedures and we are optimistic and hopeful that that's coming shortly. So, those patients, like I said, are eligible to apply for our patient assistance program and then if they're eligible, they can come in and start and then once we have CMS approval, presumably, they could become commercial patient.

Martine Rothblatt -- Founder Chairperson, Chief Executive Officer, and Director

Perfect. Thanks so much, Mike. Operator, next question, please.?

Operator

Your next question is from the line of Eun Yang of Jefferies.

Eun Yang -- Jefferies -- Analyst

Thank you. Great quarter, congrats. Recently J&J received approval of intravenous Uptravi. So I want to ask you, what do you -- how do you see this might or might not impact your Remodulin franchise? Thank you.

Martine Rothblatt -- Founder Chairperson, Chief Executive Officer, and Director

Thanks for the question, Eun, nice to hear your voice this morning and thanks for the congratulations. We, at present, really we have no idea to comment about what kind of impacts intravenous Uptravi might have. We do feel that the intravenous route is important, although the same amount of efficacy can be achieved with the subcutaneous route and that's, of course, ordinarily much easier on the patient, and certainly much easier on their ongoing lifestyle. So that's really the question to be assessed there.

In terms of over the longer term, I think what Mike was referring to and I was referring to earlier, is that the patients tend to have the best experience, according to these recent reports from both Europe and Japan, when they are on the parenteral route for a relatively short period of time in order to aggressively reduce their pressures down below 40 millimeters of mercury and relieve the after-load on the right heart. So whatever goes on there is, I would say, not part of the biggest picture of pulmonary hypertension because the total amount of time on the parenteral therapy is relatively short, compared to the total amount of time on Orenitram or another oral therapy. So, hopefully, that gives you a little bit of insight into what might be going on in the parenteral optionality space.

Next question, please?

Operator

Your next question is from the line of Terence Flynn with Goldman Sachs.

Terence Flynn -- Goldman Sachs -- Analyst

Hi, thanks so much for taking the question. I was just wondering if you could comment at all about the breadth of prescribing you're seeing [Technical Issues] ILD side. Are you seeing a mix of both new prescribers or existing prescribers? And then the second part of the question is just how should we think about the treatment duration for the PH-ILD setting relative to PAH for Tyvaso? Thanks so much.

Martine Rothblatt -- Founder Chairperson, Chief Executive Officer, and Director

Yeah, great question. Mike, would you like to handle that one?

Michael Benkowitz -- President and Chief Operating Officer

Sure. On the prescribing breadth, I mean, as it stands right now, and not surprising, and I think this got a little bit I think into Jess' question around whether the uptake is linear or not. It's more heavily weighted to -- so the answer is we're getting both PAH and PH- ILD I would say. As we sit here today, it's more constant, the weight is more toward the PAH side, but we fully expect that as the launch evolves, as we continue to engage with physicians that, that will start to even out and maybe even potentially shift to PH- ILD. I think it's really going to depend on the center where the physicians are, do they have a PH clinic, and do those PH -ILD physicians want to actually treat versus refer. From our standpoint, we don't really care who treats, we do want to make sure that those patients are getting caught earlier in their disease because we think that -- and this gets into the second part of your question, we think that the earlier they start on Tyvaso, the more and the longer that they can benefit.

And so from a timing standpoint, in terms of duration of therapy, it's really going to -- I think it'd be a question of where they are in their disease progression and what's sort of the dominant part of the disease, is it P-ILD or is it the pulmonary hypertension. And so if you've got really severe ILD, less on the PH, if they go on Tyvaso, I think those patients probably won't be on as long versus patients that are -- it's really more PH less on the ILD, where I think we would expect to see duration of treatment along the lines of what we see, if not longer, in PAH.

Martine Rothblatt -- Founder Chairperson, Chief Executive Officer, and Director

Perfect. Thanks so much, Mike, excellent response and very comprehensive. So, operator, we've got time for just one more question.

Operator

Your final question is from the line of Geoff Meacham, Bank of America.

Jason -- Bank of America -- Analyst

Good morning, this is Jason on for Geoff. Thanks so much for taking our question and congratulations on the quarter. Just thinking ahead in terms of the second half of the year, I know you were projecting growth, but there were some obvious -- some one-time benefits including Unituxin, the Japanese order and OUS Remodulin and just wanted to get your sense of how confident you are in kind of moving forward on the trajectory for the second half of the year. Thanks so much.

Martine Rothblatt -- Founder Chairperson, Chief Executive Officer, and Director

Okay. Geoff, so basically you're just asking what we expect to see forth from here toward the end of the year?

Jason -- Bank of America -- Analyst

Well, sure. I was looking at the 10-Q, the continued revenue growth in the second half of 2021 compared to 2020, given the one-time benefits of this quarter, the confidence in the growth trajectory of the second half of 2021.

Martine Rothblatt -- Founder Chairperson, Chief Executive Officer, and Director

Yeah, I don't think -- I wouldn't really buy into the hypothesis about huge amount of one-time growth benefits this quarter. I know Mike referred to the warehousing of the Remodulin patients. But I wouldn't, like, translate that into being a one-time benefit because those patients have to book their appointments with the doctors and come in and there's going to be a continual upward swell coming from patients who were pushed back due to COVID. So I don't see this as a one-time event. I really see it more as what Mike has been talking about and we've been talking about, that we're building steadily toward our goals of doubling the number of Tyvaso patients by the end of next year and having 25,000 patients by the end of 2025.

And any given quarter, there is, of course, always ups and downs, but what you're seeing, I think in this quarter is the new revenue track for United Therapeutics going forward; a revenue track, which is consistent with doubling the number of Tyvaso patients by the end of next year and a revenue track that's consistent with having 25,000 patients by the end of 2025.

Jason -- Bank of America -- Analyst

Got you. Thanks so much for the color.

Martine Rothblatt -- Founder Chairperson, Chief Executive Officer, and Director

Excellent. Mike, did you want to add something about Unituxin on that last question?

Michael Benkowitz -- President and Chief Operating Officer

Yeah, I would just say -- I would just add maybe two granular point. So the Unituxin I wouldn't look as necessarily being a one-time event as Martine mentioned. The larger Japan -- when I referenced the larger order from Japan, that really was a function of the fact that we have larger than what we were forecasting because we weren't expecting the broader label than what we got. So now that we have the broader label, I think the orders that we expect from Japan would be on par with what we saw in this quarter over time. I would also say, on the international side, we always see some lumpiness there, part of what we saw last year with the generic entrant into Europe was Ferrer, our partner, having to draw down their inventory. So that's been drawn down and I think we'll still see lumpy orders internationally, but over the course of the year, I think that will level out.

Martine Rothblatt -- Founder Chairperson, Chief Executive Officer, and Director

Exactly, exactly, Mike, totally agree. Operator, you can please now wrap up and we'd like to thank everybody for participating in our second quarter earnings call. It's been an extremely exciting quarter with all of the top level results that Mike reported on, best in numerous different categories, solidly on track for our announced goals and a very exciting pipeline to continue propelling our growth through the balance of the 2020s. Operator, you can now wrap up.

Operator

Thank you. Thanks for participating in today's United Therapeutics Corporation Earnings Webcast. A rebroadcast of the webcast will be available for replay for one week by visiting the Events and Presentations section of the United Therapeutics Investor Relations website at ir.unither.com.

Duration: 34 minutes

Call participants:

Dewey Steadman -- Head of Investor Relations

Martine Rothblatt -- Founder Chairperson, Chief Executive Officer, and Director

Michael Benkowitz -- President and Chief Operating Officer

Leigh Peterson -- Vice President, Product Development

Jessica Fye -- J.P. Morgan -- Analyst

Hartaj Singh -- Oppenheimer & Co. -- Analyst

Joseph Thome -- Cowen and Company -- Analyst

Eun Yang -- Jefferies -- Analyst

Terence Flynn -- Goldman Sachs -- Analyst

Jason -- Bank of America -- Analyst

More UTHR analysis

All earnings call transcripts

AlphaStreet Logo

This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.

The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Stocks Mentioned

United Therapeutics Stock Quote
United Therapeutics
UTHR
$277.08 (0.17%) $0.48

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.