Sanofi, MannKind To Launch Afrezza In U.S. In Q1, 2015 - Quick Facts

(RTTNews) - Sanofi (SNY) and MannKind Corp. (MNKD) announced a worldwide licensing agreement for development and commercialization of Afrezza (insulin human) Inhalation Powder, a rapid-acting inhaled insulin therapy for adults with type 1 and type 2 diabetes. Sanofi will be responsible for global commercial, regulatory and development activities. MannKind will manufacture Afrezza at its manufacturing facility in Danbury, Connecticut.

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% and MannKind receiving 35%. Sanofi has agreed to advance to MannKind its share of the collaboration's expenses up to a limit of $175 million. The companies plan to launch Afrezza in the U.S. in the first quarter of 2015.