DEALMAKING:Sanofi Licenses Rights to MannKind’s Afrezza for Up to $925M
After many years of struggling, biotech lands marketing partner for inhaled insulin.
MannKind has landed Sanofi as a partner for Afrezza just one month after it gained U.S. Food and Drug Administration approval to market the inhaled insulin product Afrezza. Sanofi will pay MannKind $150 million upfront and up to $775 million in potential milestone payments in return for sharing exclusive global rights to develop and commercialize the rapid-acting inhaled insulin therapy for adults with type 1 and type 2 diabetes. The companies plan to launch Afrezza in the United States in the first quarter of 2015. Read More