Silver Spring based United Therapeutics Corporation(NASDAQ: UTHR) said its still on track to reach revenues of $750 Million by the end of the year. Revenues for the second quarter of 2011 amounted to $183.8 Million a significant increase from 2010 second quarter where revenues were $134.7 Million.
Martine Rothblatt, Ph.D., United Therapeutics' Chairman and Chief Executive Officer proclaimed "I'm pleased with the successful unblinding of the FREEDOM-M study this quarter, as well as the very good operating results we achieved," Rothblatt continued "We remain on track to reach our 2011 forecast for revenues of$750 million, with a plus/minus margin of 5 percent."
One of the largest and most profitable biotechnology companies in the Baltimore-Washington area reported a profit of $73.9 Million or $1.27 per basic share for three months ended June 30, 2011, about double the profit of $37.7 Million or $0.67 cents per basic share in the same period for 2010.
The maker of pulmonary arterial hypertension drugs, Remodulin, Tyvaso and Adcirca said six months revenue totaled $345.7 Million in 2011. Net Income was $90.3 Million for the six month period. At the end of the quarter the company had Cash, cash equivalents and marketable securities of $887.4 Million
United Therapeutics is currently building a new headquarters in downtown Silver Spring. Its market capitalization is approximately $3.17 billion.