revenue $783.3M, net income $333.0M. United Therapeutics Q2: Tyvaso sales slip on competition, but pipeline wins and dominate

Filed August 5, 2026 · Period ending June 30, 2026 · Compared to 10-Q Jul 30, 2025 · ~1 min read

Key Changes

• high

  Tyvaso franchise revenue fell 4% to $452.6M in Q2, driven by an 18% drop in Nebulized Tyvaso, as competitive therapies like Yutrepia and Winrevair took share.

  MD&A: Tyvaso revenue verify on EDGAR →
• high

  Company now says competition has adversely affected treprostinil-based product sales, a reversal from prior guidance that Yutrepia had no material impact.

  MD&A: Competitive impact verify on EDGAR →
• high

  Positive phase 3 results for TETON-2 (Nebulized Tyvaso in IPF) and ADVANCE OUTCOMES (ralinepag in PAH) support sNDA and NDA submissions, with FDA decisions expected near-term.

  MD&A: Pipeline catalysts verify on EDGAR →