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Valencia firm reaches agreement for distribution of new diabetes medication

Posted: August 11, 2014 6:34 p.m.
Updated: August 11, 2014 6:34 p.m.
 

MannKind Corporation, the Valencia firm that won FDA approval for an inhalation medicine for diabetes, has entered into a licensing agreement for global distribution of the medication, company officials announced Monday.

The human insulin inhalation powder, called Afrezza, will be distributed around the world by Sanofi, a Paris-based firm that already distributes diabetes medications, drug-delivery systems and blood glucose monitoring devices.

Under the collaboration and license agreement with MannKind, Sanofi will be responsible for global commercial, regulatory and development activities. The drug will be manufactured at MannKind’s Connecticut plant.

MannKind will receive an upfront payment of $150 million and potential milestone payments of up to $775 million.

Sanofi and MannKind will share profits and losses on a global basis, with Sanofi retaining 65 percent and MannKind receiving 35 percent.

“Sanofi is the ideal partner given their complementary product portfolio, their vast insulin market presence and a leading global commercial infrastructure,” said Alfred Mann, MannKind’s chairman and chief executive officer.

“Afrezza ... is uniquely positioned to provide patients with another insulin therapy option to manage their diabetes but does not require multiple daily injections,” said Pierre Chancel, Sanofi senior vice president for its Diabetes Division. He called it “a further addition to our growing portfolio of integrated diabetes solutions.”

The U.S. Food and Drug Administration approved Afrezza Inhalation Powder on June 27 to improve glycemic control in adult patients with diabetes mellitus.

MannKind Corporation's financial adviser must give final approval to the agreement.

 

 

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