Valencia-based MannKind Corp., developer of an FDA-approved inhalable insulin product called Afrezza, announced Thursday it has earned a total of $50 million in milestone payments from its marketing partner, Sanofi, in connection with the satisfaction of manufacturing milestones specified in its collaboration and licensing agreement.
Pursuant to the agreement, MannKind previously received a $150 million upfront payment and is eligible to earn up to $725 million in further development, regulatory and sales milestones, and is also eligible to receive a share of profits on sales of Afrezza.
About MannKind Corp.
MannKind Corporation focuses on the discovery, development and commercialization of therapeutic products for patients with diseases such as diabetes. MannKind maintains a website at www.mannkindcorp.com to which MannKind regularly posts copies of its press releases as well as additional information about MannKind. Interested persons can subscribe on the MannKind website to e-mail alerts that are sent automatically when MannKind issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the website.
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4 Comments
Yay! New way to poison us! I give it 6 months before the lawsuits begin.
What, you have a problem with treating diabetes? You’d rather stick needles in your arm? It’s a new method for delivering insulin that allows diabetics to use an inhaler rather than needles.
You misunderstand. Treating diabetes is needed. If there is an easier way to do it other than using needles, great. My problem is with all of these new experimental drugs that end up causing more harm than good. If it is ONLY insulin in this inhaler, fine. But I highly doubt this thing has been tested thoroughly… most drugs approved by the FDA are not properly tested and are rushed and pushed through in order to start making money as fast as possible.
The drug is just insulin. The delivery process is called Technosphere, The human insulin is encapsulated inside a inert matrix that is easily excreted. One of the longest FDA testings ever. Rejected once because they changed the design of the inhaler slightly and not the drug. Video http://www.mannkindcorp.com/Collateral/Flash/English-US/Animations/technosphere_animation.html