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MannKind Corporation Announces Termination of License and Collaboration Agreement With Sanofi
9:00 am ET January 5, 2016 (Globe Newswire) Print
MannKind Corporation (Nasdaq:MNKD) (TASE:MNKD) today announced the termination of its license and collaboration agreement with sanofi-aventis U.S. LLC for the development and commercialization of Afrezza (insulin human) Inhalation Powder. The parties will promptly commence transition discussions in order to effect a smooth and orderly transition in the development and commercialization of Afrezza from Sanofi to MannKind over the next 90 - 180 days. In any event, termination of the license agreement in its entirety will be effective no later than six months from the effective date of Sanofi's notice of termination, or July 4, 2016.
MannKind is reviewing its strategic options for Afrezza as a result of the termination of the collaboration with Sanofi.
MannKind will host a conference call at 4:30 pm (Eastern Time) on January 5, 2016. To participate in the live call by telephone, please dial (888) 771-4371 or (847) 585-4405 and use the participant passcode: 4155 4306. Those interested in listening to the conference call live via the Internet may do so by visiting the Company's website at http://www.mannkindcorp.com.
A telephone replay of the call will be accessible for approximately 14 days following completion of the call by dialing (888) 843-7419 or (630) 652-3042 and use the participant passcode: 4155 4306#. A replay will also be available on MannKind's website for 14 days.
About MannKind Corporation
MannKind Corporation (Nasdaq:MNKD) (TASE:MNKD) focuses on the discovery and development of therapeutic products for patients with diseases such as diabetes. MannKind maintains a website at http://www.mannkindcorp.com to which MannKind regularly posts copies of its press releases as well as additional information about MannKind. Interested persons can subscribe on the MannKind website to e-mail alerts that are sent automatically when MannKind issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the website. Company Contact: Matthew J. Pfeffer Corporate Vice President and Chief Financial Officer (661) 775-5300 mpfeffer@mannkindcorp.com
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Sounds like lawyers are going after Sanofi for bothching the roll out of Mannkinds diabetes drug, as Mannkind is searching for a new distributor, imo.
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EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims Against MannKind Corp. - MNKD
1:21 pm ET January 6, 2016 (BusinessWire) Print
Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of MannKind Corp. (NASDAQ:MNKD) resulting from allegations that MannKind may have issued materially misleading business information to the investing public.
On January 5, 2016, MannKind announced the termination of its licensing pact with Sanofi-Aventis in the U.S. for the development and sale of its inhaled insulin product Afrezza. On that same day, Reuters reported that a Sanofi spokesman said Afrezza continued to suffer from a low level of prescriptions, despite substantial sales efforts. On this news, shares of MannKind fell $0.70 per share or over 48% to close at $0.75 per share on January 5, 2016, damaging investors. On January 6, 2016, the LA Times reported that some doctors and analysts suggested that a botched roll-out by Sanofi contributed to Afrezza's struggles.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by MannKind investors. If you purchased shares of MannKind on or before January 4, 2016, please visit the firm's website at http://rosenlegal.com/cases-808.html for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar outcome.
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Contact Information:
Laurence Rosen, Esq. Phillip Kim, Esq. Kevin Chan, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 34th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 lrosen@rosenlegal.com pkim@rosenlegal.com kchan@rosenlegal.com www.rosenlegal.com
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