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United Therapeutics' CEO Discusses Q1 2012 Results - Earnings Call Transcript

Any questions that you may have relating to passing the IP issues could be directed to Mr. Fisher. Questions with regard to distributor, distribution, finance issues could be directed to Mr. Ferrari, and questions with regard to clinical development, sales marketing, and company-wide operations to Dr. Jeffs. And otherwise, I'm pleased to answer any questions you may have.

We've had a really great first quarter and we're announcing today's revenues of $204 million for the quarter. Earnings per share of $1.32 per basic share, $1.29 per diluted share. And then the main metrics that we used to gauge our business operations, the earnings before non-cash charges, Baird we're really pleased to report $2.13 per basic share, $2.08 per diluted share. These really good financial results, on the part is a stepping stone for our revenue guidance, which is plus or minus 5%, $875 million for this calendar year of 2012 and $1 billion for the next calendar year of 2013.

So the big pictures here is that product revenues are growing, earnings are growing and we remain on track for the guidance that we've provided for 2012 and 2013.

Operator, if you could please now open up the lines for any questions that people might have.

Question-and-Answer Session


[Operator Instructions] We have a question from Mark Schoenebaum of ICI Group (sic) [ISI Group].

Unknown Analyst

This is West sitting in for Mark. I had couple of questions about IP and also use of cash. My first question was around Tyvaso. Could you let us what the earliest potential date for a potential Paragraph IV filing for that product? And your expectations of any filing? And then also, I'd like to know if you have any updates on use of cash around share buybacks, as well as business development for the remainder of the year? Any additional details around that would be very helpful.

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