Page 1

For immediate release UNITED THERAPEUTICS CORPORATION REPORTS FIRST QUARTER 2021 FINANCIAL RESULTS Tyvaso ( treprostinil ) Inhalation Solution approved for pulmonary hypertension associated with interstitial lung disease ( PH - ILD ) Tyvaso DPITM New Drug Application ( NDA ) submitted to U.S. Food and Drug Administration TETON study of Tyvaso in idiopathic pulmonary fibrosis ( IPF ) expected to enroll its first patients in the second quarter of 2021 SILVER SPRING , MD . AND RESEARCH TRIANGLE PARK , N.C. , May 5 , 2021 : United Therapeutics Corporation ( Nasdaq : UTHR ) today announced its financial results for the quarter ended March 31 , 2021. Total revenue in the first quarter of 2021 grew 6 % year over year to $ 379.1 million , compared to $ 356.3 million in the first quarter of 2020 . " 2021 is already a historic year for United Therapeutics , with the recent FDA approval and launch of Tyvaso for treatment of PH - ILD , submission of the Tyvaso DPI NDA , and the launch of our Remunity® Pump for RemodulinⓇ , " said Martine Rothblatt , Ph.D. , Chairperson and Chief Executive Officer of United Therapeutics . " In addition to these product launches and the potential Tyvaso DPI approval in December , we are progressing our late - stage pipeline with the commencement of the pivotal TETON study of Tyvaso in IPF , continued enrollment of the pivotal PERFECT study of Tyvaso in PH - COPD , and the ongoing pivotal ADVANCE studies of ralinepag . " " Following approval in late March , we're already gaining traction with physicians for Tyvaso in PH - ILD , with patient referrals and starts beginning in April , " said Michael Benkowitz , President and Chief Operating Officer of United Therapeutics . " The commercial launch of Tyvaso in PH - ILD builds on the momentum we're already seeing for the Remunity Pump for Remodulin , which provides significant improvements over legacy subcutaneous delivery options . " FIRST QUARTER 2021 FINANCIAL RESULTS Key financial highlights include ( dollars in millions , except per share data ) : Revenues Net income Non - GAAP earnings ( ¹ Net income , per basic share Net income , per diluted share Non - GAAP earnings , per diluted share ( ¹ ) ( 1 ) $ Three Months Ended March 31 , 379.1 $ 28.3 A A A A A A 2021 $ 162.1 A A A A 2020 $ 356.3 0.63 0.61 $ 3.49 $ $ 22.8 ( 109.4 ) 2.9 ( 2.51 ) $ $ ( 2.51 ) 3.61 $ ( 0.12 ) $ 137.7 $ 159.2 $ $ 3.14 3.12 LA LA LA A $ Dollar Change Percentage Change 6 % ( 79 ) % 2 % ( 80 ) % ( 80 ) % ( 3 ) % See definition of non - GAAP earnings , a non - GAAP financial measure , and a reconciliation of net income to non - GAAP earnings below .