MILAN (Finanza.com) Valeria Panigada 11 August 2014
French pharmaceutical group Sanofi has signed an exclusive worldwide licensing agreement with American biotechnology company MannKind Corporation for its inhaled insulin powder. The drug, called Afrezza, is a new fast-acting inhaled insulin for the treatment of type 1 and 2 diabetes in adults. The treatment will be launched in the US in the first quarter of 2015. Under the terms of the contract, Sanofi will pay MannKind Corporation 150 million dollars, a figure that could reach up to 775 million if certain objectives are met. The two companies will split profits and losses at 65 and 35%, respectively. Sanofi has meanwhile agreed to pay MannKind an advance of $175 million for expenses incurred so far.
To know more: Sanofi makes an equal to $925 mlns in the insulin in the inhaler
