MannKind Shares Explode After Announcing Inhaled Insulin Deal

11 August 2014
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Shares of MannKind were up nearly 30% in pre-market trade after the company announced a development agreement with Sanofi for its inhaled insulin treatment Afrezza.

The deal nets MannKind a $150 million payment upfront and potential milestone payments of up to $775 million. Under the agreement, Sanofi is responsible for global commercial, regulatory and development activities, while Mannkind will make Afrezza at its Danbury, Connecticut facility. Sanofi will retain 65% of profits on Afrezza with MannKind keeping 35%.

Read more: http://www.businessinsider.com/mannkind-explodes-deal-with-sanofi-2014-8