United Therapeutics Corporation has reported outstanding financial results for the second quarter of 2025, achieving a record total revenue of $799 million, representing a 12% increase over the same period in 2024. This marks their twelfth consecutive quarter of double-digit, year-over-year revenue growth, demonstrating consistent strength in their commercial operations. A significant driver of this success is Tyvaso DPI, their treprostinil dry powder inhaler, which alone generated a record $315 million in revenue, growing by 22% over the prior year.

The company emphasizes Tyvaso DPI's unique benefits, including its ability to be dosed with only one breath per cartridge, four times a day, and its extensive study at higher doses compared to other commercially available treprostinil dry powder inhalers, contributing to its strong market position. Further solidifying their financial health and commitment to shareholder value, the Board of Directors authorized a substantial $1 billion share repurchase program, set to expire in March 2026. Beyond their robust existing product portfolio, which also saw double-digit growth from Nebulized Tyvaso, Orenitram (achieving record quarterly revenue), and Unituxin, United Therapeutics is eagerly anticipating key pipeline catalysts.

The Phase 3 TETON 2 study of Nebulized Tyvaso for idiopathic pulmonary fibrosis (IPF) has completed enrollment, with data expected in September 2025, offering potential for a new treatment option in a disease with few effective therapies. Additionally, enrollment is complete for the Phase 3 ADVANCE OUTCOMES study of ralinepag in pulmonary arterial hypertension (PAH), with data anticipated in the first half of 2026. These late-stage clinical trial readouts are crucial for the company, as they aim to fundamentally improve treatment options for patients with these progressive and often deadly lung diseases, underpinning United Therapeutics' long-term growth strategy.