--- title: "Liquidia to pay net $175 million in global settlement" url: "https://aibio.space/news/liquidia-pay-net-175-million-global-settlement-united-therapeutics/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-10-14" section: "Distress" tickers: "NASDAQ:LQDA, NASDAQ:UTHR" source: "https://www.sec.gov/Archives/edgar/data/1819576/000110465926115672/tm2627557d1_ex99-1.htm" summary: "The deal ends six lawsuits. Liquidia also owes $145.4 million in two installments due in 2027 and $60.3 million to other parties this month." --- By the aibio.space news desk. Sources - [Liquidia Corporation 8-K (2026-10-14)](https://www.sec.gov/Archives/edgar/data/1819576/000110465926115672/tm2627557d1_ex99-1.htm) [LQDA](https://aibio.space/companies/liquidia/) [UTHR](https://aibio.space/companies/united-therapeutics/) 2026-10-14 # Liquidia to pay net $175 million in global settlement with United Therapeutics Tickers [LQDA](https://aibio.space/companies/liquidia/)[UTHR](https://aibio.space/companies/united-therapeutics/) The deal ends six lawsuits. Liquidia also owes $145.4 million in two installments due in 2027 and $60.3 million to other parties this month. ## Key facts - **Companies**: Liquidia Corporation (NASDAQ: LQDA), United Therapeutics Corporation (NASDAQ: UTHR) - **News type**: Distress - **Primary source**: [Liquidia Corporation 8-K (2026-10-14)](https://www.sec.gov/Archives/edgar/data/1819576/000110465926115672/tm2627557d1_ex99-1.htm) *The White House and its lawn. CC0, via rawpixel. The picture shows the field, not the companies named.* Liquidia Corporation ([LQDA](https://aibio.space/companies/liquidia/)) said on October 13, 2026 that it had entered into a global settlement agreement with United Therapeutics Corporation (Nasdaq: [UTHR](https://aibio.space/companies/united-therapeutics/)). The agreement resolves all pending litigation between the two companies, including six lawsuits. It includes mutual releases and is not an admission of liability by either side. The announcement was filed as Exhibit 99.1 to a Form 8-K. ### What Liquidia pays Liquidia will make a net payment of $175 million to United Therapeutics within 30 business days. That figure includes money United Therapeutics pays Liquidia to resolve antitrust litigation tied to Treprostinil Injection. Liquidia will also pay $145.4 million in two equal installments of $72.7 million, due on or before January 31, 2027 and April 30, 2027. Separately, it will pay an aggregate of $60.3 million this month to other parties with interests in the antitrust litigation. The release's cautionary section names Sandoz Inc., Henderson SPV, LLC and PBM RG Holdings, LLC in connection with those agreements. The company puts the total net payment at $380.7 million across 2026 and 2027. Those obligations compare with cash and cash equivalents of $396.1 million at September 30, 2026. The release labels that figure, and the third-quarter YUTREPIA net product sales of $222.7 million, as preliminary and unaudited. It says the closing and review procedures for the quarter are not complete, and that the numbers have not been reviewed by the company's auditor. Chief Operating Officer and Chief Financial Officer Michael Kaseta says Liquidia expects to fund the payments from YUTREPIA sales and cash on hand, and to rebuild its cash position and fund planned clinical studies without additional financing. A fuller update is promised for the November earnings call. The release names no bank, lender or financial adviser for the payments. ### What Liquidia gives up The settlement follows a September 30, 2026 ruling by the U.S. District Court for the District of Delaware. The court found that claims 1 and 14 of U.S. Patent No. 11,826,327 are valid and infringed by Liquidia. Those claims cover treating PH-ILD with inhaled treprostinil, including dry powder forms. Liquidia agreed not to appeal. Liquidia has submitted a supplement to remove the PH-ILD indication from the YUTREPIA label and says it no longer promotes the product for PH-ILD. YUTREPIA was approved in May 2025 for PAH and PH-ILD, and its 10-K says commercialization began in June 2025. The release does not quantify the effect on YUTREPIA revenue. Its cautionary section adds that the settlement does not extend to indications other than PAH or to new treprostinil-containing products, and that United Therapeutics may assert patents against Liquidia's development programs or future products. Liquidia also terminated its promotional agreement tied to Treprostinil Injection and will no longer commercially support that product. Under the promotion agreement with Sandoz Inc., dated August 1, 2018 and amended, the company shared profit from sales of that generic injection. ### The six cases The release names the matters that will be dismissed with prejudice after the initial payment. They are United Therapeutics Corporation v. Liquidia Technologies, Inc. in the District of Delaware, over the '327 patent; a second United Therapeutics suit in the Middle District of North Carolina, over U.S. Patent No. 11,357,782; a Liquidia suit against United Therapeutics in the same district, over U.S. Patent No. 10,898,494; two North Carolina Superior Court cases brought by United Therapeutics and Lung Biotechnology PBC, one alleging trade secret misappropriation and one alleging breach of contract, both naming Liquidia Technologies and Robert Roscigno; and an antitrust case brought by Sandoz Inc. and RareGen, LLC against United Therapeutics and Smiths Medical ASD in the District of New Jersey, with related appeals in the Third Circuit. ### The financial record behind the payments The 10-K filed March 5, 2026 reports revenue of $158.3 million for 2025, against $14.0 million for 2024. The net loss for 2025 was $68.9 million, down from $128.3 million in 2024. Cash used in operations was $35.7 million in 2025, compared with $93.4 million in 2024. Cash and cash equivalents were $284.2 million at June 30, 2026, according to the company's 10-Q. The $380.7 million total is large against the $396.1 million of cash reported for September 30, 2026. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story LQDA Liquidia Corporation NASDAQ · United States Open the starter desk UTHR United Therapeutics Corporation NASDAQ · United States Open the desk ## More in Distress Distress ### [Mineralys takes ownership of lorundrostat patents but keeps Tanabe milestone debts](https://aibio.space/news/mineralys-takes-ownership-lorundrostat-patents-but-keeps-tanabe/) Oct 29, 2026 Distress ### [Bristol Myers Squibb drops Prothena's PRX019, ending up to $617.5 million in milestones](https://aibio.space/news/bristol-myers-squibb-drops-prothenas-prx019-ending-up-617-5-million/) Oct 29, 2026 Distress ### [LENZ Therapeutics reorganizes to cut 2027 operating expenses by more than 50%](https://aibio.space/news/lenz-therapeutics-reorganizes-cut-2027-operating-expenses-more-50/) Oct 28, 2026 --- Source page: https://aibio.space/news/liquidia-pay-net-175-million-global-settlement-united-therapeutics/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Liquidia to pay net $175 million in global settlement", 2026-10-14, https://aibio.space/news/liquidia-pay-net-175-million-global-settlement-united-therapeutics/