Overview Financials News + Filings Key Docs Charts Transactions Holdings Ownership Insiders
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| In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| United States | 1,814.1 | 1,564.2 | 1,412.1 | 1,323.2 | 1,528.2 | 1,536.8 | 1,461.9 | 1,353.0 |
| Remodulin | 500.2 | 513.7 | 516.7 | 587.0 | 599.0 | 670.9 | | 572.8 |
| Tyvaso | 873.0 | 607.5 | 483.3 | 415.6 | 415.2 | 372.9 | | 470.1 |
| Rest-of-World | 122.2 | 121.3 | 71.2 | 125.6 | 99.6 | 188.5 | 136.9 | 112.8 |
| Total revenues [+] | 1,936.3 | 1,685.5 | 1,483.3 | 1,448.8 | 1,627.8 | 1,725.3 | 1,598.8 | 1,465.8 |
| Products | | | | | | | | 1,460.6 |
| Other | | | | | | | | 5.2 |
| Revenue growth [+] | 14.9% | 13.6% | 2.4% | -11.0% | -5.7% | 7.9% | 9.1% | 13.8% |
| United States | 16.0% | 10.8% | 6.7% | -13.4% | -0.6% | 5.1% | 8.0% | 14.6% |
| Remodulin | -2.6% | -0.6% | -12.0% | -2.0% | -10.7% | | | 3.4% |
| Tyvaso | 43.7% | 25.7% | 16.3% | 0.1% | 11.3% | | | 1.5% |
| Rest-of-World | 0.7% | 70.4% | -43.3% | 26.1% | -47.2% | 37.7% | 21.4% | 4.7% |
| Adcirca | -26.1% | -16.9% | -37.2% | -66.9% | -22.9% | | | 25.9% |
| Cost of goods sold | 151.6 | 122.5 | 108.1 | 117.6 | 198.7 | 105.7 | 72.7 | 69.0 |
| Gross profit | 1,784.7 | 1,563.0 | 1,375.2 | 1,331.2 | 1,429.1 | 1,619.6 | 1,526.1 | 1,396.8 |
| Gross margin | 92.2% | 92.7% | 92.7% | 91.9% | 87.8% | 93.9% | 95.5% | 95.3% |
| Selling, general and administrative | 322.9 | 540.1 | 357.7 | 1,182.6 | 357.9 | 264.6 | 316.8 | 452.7 |
| Research and development | 322.9 | 540.1 | 357.7 | 1,182.6 | 357.9 | 264.6 | 147.6 | 245.1 |
| Equity in earnings | | | | | | | | |
| Other operating expenses | 160.3 | -73.1 | 66.2 | -846.4 | -92.1 | 65.5 | | -350.0 |
| EBITDA [+] | 1,029.9 | 605.8 | 643.5 | -141.7 | 841.3 | 1,055.9 | 1,093.3 | 1,081.9 |
| EBITDA growth | 70.0% | -5.9% | -554.1% | -116.8% | -20.3% | -3.4% | 1.1% | 89.5% |
| EBITDA margin | 53.2% | 35.9% | 43.4% | -9.8% | 51.7% | 61.2% | 68.4% | 73.8% |
| Depreciation | 51.2 | 49.8 | 49.7 | 45.7 | 35.8 | 30.5 | 31.0 | 31.8 |
| EBITA | 978.7 | 556.0 | 593.8 | -187.4 | 805.5 | 1,025.4 | 1,062.3 | 1,050.1 |
| EBITA margin | 50.5% | 33.0% | 40.0% | -12.9% | 49.5% | 59.4% | 66.4% | 71.6% |
| Amortization of intangibles | 0.1 | 0.1 | 0.2 | 0.2 | 0.1 | 0.5 | 0.6 | 1.1 |
| EBIT [+] | 978.6 | 555.9 | 593.6 | -187.6 | 805.4 | 1,024.9 | 1,061.7 | 1,049.0 |
| EBIT growth | 76.0% | -6.4% | -416.4% | -123.3% | -21.4% | -3.5% | 1.2% | 94.7% |
| EBIT margin | 50.5% | 33.0% | 40.0% | -12.9% | 49.5% | 59.4% | 66.4% | 71.6% |
| Non-recurring items [+] | -1.1 | | | | | 210.0 | | 350.0 |
| Loss (gain) on sale of assets | | | | | | | | 350.0 |
| Loss on contingent liability | | | | | | 210.0 | | |
| Interest income, net [+] | 12.8 | -1.9 | 5.1 | | 14.7 | 1.9 | -0.4 | -4.7 |
| Interest expense | 32.4 | 18.6 | 23.5 | 44.2 | 13.9 | 9.0 | 3.9 | 4.7 |
| Interest income | 45.2 | 16.7 | 28.6 | 44.2 | 28.6 | 10.9 | 3.5 | |
| Other income (expense), net [+] | -41.9 | 39.9 | 40.2 | 22.6 | -61.2 | -47.3 | -1.1 | 350.1 |
| Other | -40.2 | 42.2 | 49.3 | 22.6 | -7.7 | 2.3 | -1.1 | 0.1 |
| Pre-tax income | 950.6 | 593.9 | 638.9 | -165.0 | 758.9 | 769.5 | 1,060.2 | 1,044.4 |
| Income taxes | 223.3 | 118.1 | 124.1 | -60.5 | 169.7 | 351.6 | 346.5 | 392.8 |
| Tax rate | 23.5% | 19.9% | 19.4% | 36.7% | 22.4% | 45.7% | 32.7% | 37.6% |
| Net income | 727.3 | 475.8 | 514.8 | -104.5 | 589.2 | 417.9 | 713.7 | 651.6 |
| Net margin | 37.6% | 28.2% | 34.7% | -7.2% | 36.2% | 24.2% | 44.6% | 44.5% |
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| Basic EPS [+] | $15.98 | $10.60 | $11.65 | ($2.39) | $13.54 | $9.50 | $16.29 | $14.17 |
| Growth | 50.8% | -9.0% | -588.2% | -117.6% | 42.6% | -41.7% | 15.0% | 100.8% |
| Diluted EPS [+] | $15.00 | $10.06 | $11.54 | ($2.39) | $13.39 | $9.31 | $15.25 | $12.73 |
| Growth | 49.1% | -12.9% | -583.8% | -117.8% | 43.9% | -39.0% | 19.8% | 102.8% |
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| Shares outstanding (basic) [+] | 45.5 | 44.9 | 44.2 | 43.8 | 43.5 | 44.0 | 43.8 | 46.0 |
| Growth | 1.3% | 1.6% | 0.9% | 0.7% | -1.1% | 0.5% | -4.8% | -4.6% |
| Shares outstanding (diluted) [+] | 48.5 | 47.3 | 44.6 | 43.8 | 44.0 | 44.9 | 46.8 | 51.2 |
| Growth | 2.5% | 6.1% | 1.8% | -0.5% | -2.0% | -4.1% | -8.6% | -5.5% |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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