United Therapeutics Corporation (NASDAQ:UTHR) Q2 2019 Earnings Conference Call - Final Transcript

Jul 31, 2019 • 09:00 am ET


United Therapeutics Corporation (NASDAQ:UTHR) Q2 2019 Earnings Conference Call - Final Transcript


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Good morning, and welcome to the United Therapeutics Corporation [Phonetic] Second Quarter 2019 Earnings Call. My name is Michelle, and I will be your conference operator today.

[Operator Instructions] I will now turn the conference over to Mr. James Edgemond, Chief Financial Officer of United Therapeutics.

James C. Edgemond

Thank you, Michelle, and good morning, everyone. It is my pleasure to welcome you to the United Therapeutics Corporation's Second Quarter 2019 Earnings Call. Accompanying me on today's call are Dr. Martine Rothblatt, our Chairman and Chief Executive Officer; and Mr. Michael Benkowitz, our President and Chief Operating Officer.

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. We assume no obligation to update forward-looking statements. Today's remarks may also include financial measures that were not prepared in accordance with US Generally Accepted Accounting Principles. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in our earnings release available on our website at www.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 safe and effective for any unapproved or investigational uses. Full prescribing information for the products is available on our website.

Now I will turn the call over to Dr. Rothblatt for an overview on the second quarter 2019 financial results and business activities of United Therapeutics.

Martine A. Rothblatt

Thank you, James. Good morning, everybody. I'd like to start off with a few words about the current quarter and then spend longer time talking about our growth prospects for the future, and then we'll open up the lines for questions directed to our President, Michael Benkowitz; CFO, James Edgemond; or myself.

Our prostacyclin product franchise consisting of Remodulin, Tyvaso and Orenitram is being used by a larger number of pulmonary arterial -- pulmonary hypertension patients than ever before. The momentum that this demonstrates underscores our belief that the product franchise is well positioned to treat a large and growing number of pulmonary hypertension patients in need of a true prostacyclin therapy.

It also reinforces our commitment to advancing our innovative pipeline of next-generation drug delivery systems and late-stage clinical programs in cardiopulmonary diseases and in oncology as well as our exciting work in regenerative medicine and organ manufacturing to ultimately achieve our mission of finding a cure for both pulmonary hypertension patients and those suffering from other end-stage organ diseases.

Let me now talk a little bit about the exciting work that we have for the future and why we believe that our pipeline is very, very strong. Our feeling is quite confident that we are going to triple our business over the next