Sanofi to Pay MannKind Up to $925m for Inhaled Insulin
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Sanofi agreed to pay MannKind Corp. as much as $925 million for global rights to the world’s only available inhaled insulin less than seven weeks after the drug won regulatory approval in the U.S.
Sanofi will pay $150 million up front and as much as $775 million if the drug, Afrezza, meets certain sales and development targets, the two companies said in a statement today. Paris-based Sanofi will take 65 percent of profit or loss related to Afrezza, and will also advance Valencia, California-based MannKind as much as $175 million in expenses.