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Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2026
Segment Reporting [Abstract] |
Schedule of Net Product Sales, Cost of Product Sales and Gross Profit for Each Commercial Products | Total revenues, cost of sales, and gross profit (loss) for each of our commercial products and other sources of revenues were as follows (in millions):
| Three Months Ended March 31,
2026 |  | Tyvaso DPI |  | Nebulized Tyvaso |  | Remodulin(2) |  | Orenitram |  | Unituxin |  | Adcirca |  | Other |  | Total
Total revenues |  | $ | 330.3 |  |  | $ | 127.2 |  |  | $ | 126.6 |  |  | $ | 135.6 |  |  | $ | 53.6 |  |  | $ | 2.9 |  |  | $ | 5.3 |  |  | $ | 781.5 |
Cost of sales(1) |  | 83.2 |  |  | 8.6 |  |  | 16.1 |  |  | 7.4 |  |  | 5.0 |  |  | 1.0 |  |  | 12.1 |  |  | 133.4 |
Gross profit (loss) |  | $ | 247.1 |  |  | $ | 118.6 |  |  | $ | 110.5 |  |  | $ | 128.2 |  |  | $ | 48.6 |  |  | $ | 1.9 |  |  | $ | (6.8) |  |  | $ | 648.1 |
2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total revenues |  | $ | 302.5 |  |  | $ | 163.8 |  |  | $ | 138.2 |  |  | $ | 120.7 |  |  | $ | 58.2 |  |  | $ | 6.0 |  |  | $ | 5.0 |  |  | $ | 794.4 |
Cost of sales(1) |  | 48.1 |  |  | 8.5 |  |  | 13.8 |  |  | 8.3 |  |  | 5.2 |  |  | 2.6 |  |  | 6.0 |  |  | 92.5 |
Gross profit (loss) |  | $ | 254.4 |  |  | $ | 155.3 |  |  | $ | 124.4 |  |  | $ | 112.4 |  |  | $ | 53.0 |  |  | $ | 3.4 |  |  | $ | (1.0) |  |  | $ | 701.9 |
(1)During the three months ended March 31, 2026 and 2025, we recorded $44.9 million and $9.0 million of inventory reserve expense, respectively. Tyvaso DPI inventory reserve expense accounts for $39.2 million and $5.8 million of the total inventory reserve expense recorded during the three months ended March 31, 2026 and 2025, respectively. The Tyvaso DPI inventory reserve expense increased in 2026 mainly because we recorded an estimated $26.8 million loss related to a commercial supply agreement. This agreement is intended to provide us with sufficient inventory to meet the needs of our patients. (2)Total revenues and cost of sales include sales of infusion devices, including the Remunity® and RemunityPRO® Pumps.
Schedule of Net Revenues from External Customers by Geographic Area | Total revenues from external customers in the United States and rest-of-world (ROW) for each of our commercial products were as follows (in millions):
| Three Months Ended March 31, |
| 2026 |  | 2025 |
| U.S. | ROW | Total |  | U.S. | ROW | Total |
Net product sales: |  |  |  |  |  |  |  |
Tyvaso DPI | $ | 330.3 |  | $ | — |  | $ | 330.3 |  |  | $ | 302.5 |  | $ | — |  | $ | 302.5 |  |
Nebulized Tyvaso | 112.6 |  | 14.6 |  | 127.2 |  |  | 138.6 |  | 25.2 |  | 163.8 |  |
Total Tyvaso | 442.9 |  | 14.6 |  | 457.5 |  |  | 441.1 |  | 25.2 |  | 466.3 |  |
Remodulin(1) | 108.8 |  | 17.8 |  | 126.6 |  |  | 120.2 |  | 18.0 |  | 138.2 |  |
Orenitram | 135.6 |  | — |  | 135.6 |  |  | 120.7 |  | — |  | 120.7 |  |
Unituxin | 49.0 |  | 4.6 |  | 53.6 |  |  | 56.9 |  | 1.3 |  | 58.2 |  |
Adcirca | 2.9 |  | — |  | 2.9 |  |  | 6.0 |  | — |  | 6.0 |  |
Other | 5.0 |  | 0.3 |  | 5.3 |  |  | 4.7 |  | 0.3 |  | 5.0 |  |
Total revenues | $ | 744.2 |  | $ | 37.3 |  | $ | 781.5 |  |  | $ | 749.6 |  | $ | 44.8 |  | $ | 794.4 |  |
(1) Net product sales include sales of infusion devices, including the Remunity and RemunityPRO Pumps.
Schedule of Concentration of Risk Disclosure | Revenue from these two distributors as a percentage of total revenues is as follows:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2026 |  | 2025
Distributor 1 |  |  |  |  | 52 | % |  | 52 | %
Distributor 2 |  |  |  |  | 35 | % |  | 34 | %

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