MannKind tanks as Sanofi pulls plug on inhaled insulin deal
US drugmaker MannKind Corp’s (Nasdaq: MNKD) shares plunged 48.4% to $0.75 by close of trading on Tuesday, after the company revealed the French pharma major Sanofi (Euronext: SAN) has terminated its license and collaboration deal for the development and commercialization of Afrezza (insulin human) Inhalation Powder.
The parties will promptly commence transition discussions in order to effect a smooth and orderly transition in the development and commercialization of Afrezza from Sanofi to MannKind over the next 90–180 days. In any event, termination of the license agreement in its entirety will be effective no later than six months from the effective date of Sanofi’s notice of termination, or July 4, 2016, said MannKind.
MannKind is reviewing its strategic options for Afrezza as a result of the termination of the collaboration with Sanofi.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Pharmaceutical
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze