Liquidia Shares Plunge on Patent Loss
Liquidia shares dropped nearly 50 percent after a federal court ruled its lung drug infringes a United Therapeutics patent. United Therapeutics shares jumped following the decision. Liquidia plans to appeal the ruling.
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Liquidia shares fell 48% on Wednesday afternoon after a federal court ruled its inhaled lung drug infringes a key patent held by rival United Therapeutics in the United States. The decision deals a setback to the commercial outlook for Liquidia's dry-powder treatment, Yutrepia. The ruling strengthens market protections for United Therapeutics' competing blockbuster inhalation treatment, Tyvaso, whose shares rose 12.3% to $540.54 following the decision.
