596848 IMPROVED RECONSTITUTED SURFACTANT COMPOSITION CONTAINING ANALOGS OF SURFACTANT PROTEIN B (SP-B) AND SURFACTANT PROTEIN C (SP-C) Provided is a reconstituted surfactant composition comprising: a) from 1.2 to 1.8% by weight of a functional fragment of the native surfactant protein SP-C consisting of the sequence represented by the formula IPSSPVHLKRLKLLLLLLLLILLLILGALLLGL; b) from 0.1 to 0.5% by weight of a functional fragment of the native surfactant protein SP-B consisting of the sequence represented by the formula CWLCRALIKRIQALIPKGGRLLPQLVCRLVLRCS; c) a monounsaturated and a saturated phospholipid in a weight ratio ranging from 45:55 to 55:45 wherein said monounsaturated phospholipid is selected from the group consisting of palmitoyloleoylphosphatidylcholine (POPC) and palmitoyloleoylphosphatidylglycerol (POPG) and wherein said saturated phospholipid is selected from the group consisting of dipalmitoylphosphatidylcholine (DPPC) and dipalmitoylphosphatidylglycerol (DPPG); all the amounts being calculated relative to the total weight of the reconstituted surfactant.