Daily newsletter · Thu 1 Oct 2026
One patent ruling took 57% off Liquidia and put 13% on United Therapeutics
A federal court in Delaware ruled on Wednesday that Liquidia's inhaled lung drug Yutrepia infringes a United Therapeutics patent. Liquidia closed at US$30.26, down 57.19%. United Therapeutics closed at US$541.89, up 12.55%.
The fight is over one use of one drug. Both companies sell inhaled treprostinil. The patent covers treating pulmonary hypertension in patients whose lungs are also scarred, a condition doctors shorten to PH-ILD. The court upheld two of its claims and struck out four.
Liquidia will appeal. In the meantime it plans to take PH-ILD off Yutrepia's label, which leaves the drug approved for the other form of the disease and hands the disputed slice of the market back to United Therapeutics.
The regulator cleared Yutrepia for both uses in 2025, after years of trying. Patent 11,826,327 took one of them away again on Wednesday, and Liquidia's case now rests on the appeal.
the injunction. United Therapeutics has asked the court to restrict Yutrepia's availability while matters proceed, and the two sides file proposed judgments within a week. That document decides what Liquidia can sell for however long the appeal takes.
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