PARIS Aug 11 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
(Reporting by James Regan; Editing by Blaise Robinson)