Historical Stock Chart
6 Months : From Mar 2019 to Sep 2019
MannKind Corporation (Nasdaq: MNKD) today announced that it has entered into an exclusive marketing and distribution agreement with the AMSL Diabetes division of Australasian Medical & Scientific Ltd. for the commercialization of Afrezza® (insulin human) Inhalation Powder in Australia.
"We are excited to partner with AMSL Diabetes to accelerate patients’ access to Afrezza in Australia," said Michael Castagna, Chief Executive Officer of MannKind Corporation. “This agreement with AMSL, our third international partnership for Afrezza, aligns us with a partner with a strong presence and knowledge of the diabetes market in Australia, giving us an opportunity to provide more healthcare providers and patients with a new option in their fight against diabetes."
“Adding Afrezza to our portfolio is a significant step towards addressing the needs of Australian patients with diabetes who are looking for a mealtime insulin with a unique time-action profile,” said Richard Plowright, Managing Director of AMSL. “Through our exclusive partnership with MannKind, we can bring the benefits of inhalable insulin to patients across Australia.”
Under the terms of the agreement, AMSL Diabetes will be responsible for obtaining regulatory and reimbursement approvals to distribute Afrezza in Australia. AMSL Diabetes will also be responsible for sales, marketing, and customer support and distribution activities. MannKind will retain responsibility for supply and manufacturing of Afrezza.
About Afrezza®Available by prescription, Afrezza® (insulin human) Inhalation Powder is a rapid-acting inhaled insulin indicated to improve glycemic control in adult patients with diabetes mellitus. Afrezza consists of a dry powder formulation of human insulin delivered from a small and portable inhaler. Administered at the beginning of a meal, Afrezza dissolves rapidly upon inhalation to the lung and passes quickly into the bloodstream (in less than one minute). This rapid absorption allows Afrezza to begin reducing blood sugar levels within about 12 minutes of administration. Afrezza is available in 4-unit, 8-unit and 12-unit single-dose cartridges of insulin powder that can be used, as prescribed by a health care professional, in combination with other diabetes medications to achieve target blood sugar levels. For Afrezza doses exceeding 12 units, patients may use a combination of existing cartridge strengths. For more information on Afrezza, please visit www.afrezza.com.
About MannKind CorporationMannKind Corporation (NASDAQ:MNKD) focuses on the development and commercialization of inhaled therapeutic products for patients with diseases such as diabetes and pulmonary arterial hypertension. MannKind is currently commercializing Afrezza® (insulin human) Inhalation Powder, the Company's first FDA-approved product and the only inhaled rapid-acting mealtime insulin in the United States, where it is available by prescription from pharmacies nationwide. MannKind is headquartered in Westlake Village, California, and has a state-of-the art manufacturing and research facility in Danbury, Connecticut. The Company also employs field sales and medical representatives across the U.S. For further information, visit www.mannkindcorp.com.
About AMSL AMSL is a private entity operating exclusively in Australia and has been involved in the provision of hi-tech medical devices and pharmaceuticals since the early 1980s. AMSL has been involved in the Australian diabetes arena for many years where they have introduced many innovations in the fields of insulin delivery and blood glucose monitoring systems that have enabled thousands of people living with diabetes to enjoy a better quality of life and reduce their risk of long-term complications.
Forward-Looking StatementsThis press release contains forward-looking statements that involve risks and uncertainties. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon MannKind's current expectations. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties detailed in MannKind's filings with the SEC. For a discussion of these and other factors, please refer to MannKind’s quarterly report on Form 10-Q for the quarter ended March 31, 2019 as well as MannKind’s other filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and MannKind undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.
MannKind Contact: Rose Alinaya Investor Relations 818-661-5000 email@example.com