HIGHBuilt-in & outside partyProduct / Revenue mix
59%
Tyvaso DPI and Nebulized Tyvaso
“10-K Item 1: 'combined Tyvaso DPI and Nebulized Tyvaso net product sales, representing 59 percent...of our total revenues for the years ended December 31, 2025'”
UTHR · Concentration risk · 10-K extracted
United Therapeutics (UTHR) concentration risks
Updated
The most significant concentration United Therapeutics discloses is Tyvaso DPI and Nebulized Tyvaso at 59%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: United Therapeutics’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH4
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partyCustomer
Accredo and CVS Specialty
“10-K Item 1A: 'we derive substantially all our treprostinil-based revenues from sales to two distributors, Accredo and CVS Specialty'”
HIGHOutside partySupplier
MannKind Corporation
“10-K Item 1A: 'We rely entirely on MannKind to manufacture Tyvaso DPI finished drug product and inhalers for us, with no plans to develop an alternate or backup supply arrangement'”
HIGHOutside partySupplier
DEKA
“10-K Item 1A: 'We rely entirely on DEKA and its affiliates to manufacture the Remunity and RemunityPRO Pumps'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile is the most layered in this coverage set, combining high-share product, customer, and supplier exposures that are tightly interconnected. Combined Tyvaso DPI and Nebulized Tyvaso net product sales represented 59% of total revenues for the year ended December 31, 2025, a high-share mixed concentration: the Tyvaso franchise is commercially established, which gives it structural characteristics, but the dependency on two formulations of a single drug for the majority of revenue makes the business vulnerable to any clinical, safety, or competitive event affecting that product. The distribution and manufacturing dependencies compound the product concentration. Substantially all treprostinil-based revenues — which includes the Tyvaso franchise — are derived from sales to two distributors, Accredo and CVS Specialty, a high-share dependency where the access to patients and the timing of revenue collection runs through a pair of specialty pharmacy intermediaries. On the manufacturing side, the company relies entirely on MannKind to manufacture Tyvaso DPI finished drug product and inhalers, with no plans to develop an alternate or backup supply arrangement, and entirely on DEKA and its affiliates for the Remunity and RemunityPRO Pumps — both high-share dependencies with no disclosed redundancy. Together, the product dominance of Tyvaso, the dual-distributor revenue channel, and the sole-source manufacturing arrangements for both the drug product and the infusion device mean the company's financial profile is tightly linked to the uninterrupted performance of a small set of external partners.
For the engine’s reasoning on UTHR’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Drug Manufacturers - Specialty & Generic
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| UTHR● | United Therapeutics Corporation | 4 | 0 | 0 | 4 |
| ANIP | ANI Pharmaceuticals, Inc. | 2 | 1 | 0 | 3 |
| AMLX | Amylyx Pharmaceuticals, Inc. | 2 | 0 | 0 | 2 |
| AMRX | Amneal Pharmaceuticals, Inc. | 1 | 1 | 0 | 2 |
| BCRX | BioCryst Pharmaceuticals, Inc. | 0 | 2 | 0 | 2 |
| ALKS | Alkermes plc | 0 | 1 | 1 | 2 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.