BioCentury
ARTICLE | Company News

Sanofi ends Afrezza deal with MannKind

January 6, 2016 2:08 AM UTC

MannKind Corp. (NASDAQ:MNKD) sank $0.70 (48%) to $0.75 on Tuesday after Sanofi (Euronext:SAN; NYSE:SNY) terminated the companies' deal for Afrezza inhaled insulin. Sanofi spokesperson Susan Brooks said the decision was based in part on "the low level of prescriptions for Afrezza in the marketplace despite our substantial efforts."

In August 2014, Sanofi paid MannKind $150 million up front and took over responsibility for global commercial, regulatory and development activities for Afrezza. MannKind was eligible for $775 million in development, regulatory and sales milestones. The companies were splitting costs and profits, with Sanofi receiving 65% and MannKind 35% (see BioCentury, Aug. 18, 2014). ...