Sanofi, MannKind agree licensing deal for Afrezza insulin

PARIS Mon Aug 11, 2014 1:14am EDT

PARIS Aug 11 (Reuters) - French drugmaker Sanofi and MannKind Corp have agreed a worldwide licensing deal to develop and market inhaled insulin therapy Afrezza for adults with diabetes.

The companies plan to launch Afrezza in the United States in the first quarter of 2015, they said in a statement on Monday.

Under the terms of the agreement, 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 percent and MannKind the rest.

Sanofi has agreed to advance to MannKind its share of the collaboration's expenses up to a limit of $175 million, the companies added. (Reporting by James Regan; Editing by Blaise Robinson)

FILED UNDER:
A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article