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Post by sportsrancho on May 9, 2018 8:01:39 GMT -5
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Post by peppy on May 9, 2018 8:03:24 GMT -5
WESTLAKE VILLAGE, Calif., May 09, 2018 (GLOBE NEWSWIRE) -- MannKind Corporation (Nasdaq:MNKD), a company focused on the development and commercialization of inhaled therapeutic products for patients with diseases such as diabetes and pulmonary arterial hypertension, today announced an exclusive marketing and distribution agreement for Afrezza® in India with Cipla Ltd., a global pharmaceutical company.
“Our partnership agreement with Cipla for Afrezza provides us with a long-term partner with a wealth of knowledge and experience in diabetes. Cipla is a leader across therapies in India with an established sales, marketing and distribution network. With this partnership, Cipla will leverage its strength in inhalation and extend it to diabetes therapy/portfolio,” stated Michael Castagna, Chief Executive Officer of MannKind. “The International Diabetes Federation estimates that 425 million people are currently living with diabetes worldwide, including 73 million in India. This agreement with Cipla, our second international partnership agreement for Afrezza, extends the potential opportunity for approximately 1 out of 4 people of the worldwide population with diabetes to manage their disease with our novel mealtime insulin, when combined with our earlier agreement in Brazil and our own efforts in the United States.”
“Cipla is committed to providing access to innovative medicines and newer drug delivery systems to the patients. Afrezza, an inhaled insulin, is a cutting-edge product which will increase patient convenience,” said Umang Vohra, MD & Global CEO, Cipla Ltd. “The innovative drug delivery system will revolutionize the diabetic care in India. This partnership with MannKind is another step from Cipla to cater to the unmet needs of the patients.”
Under the terms of the agreement, Cipla will be responsible for obtaining regulatory approvals to distribute Afrezza® in India, including approval from the Drug Controller General of India. Cipla will also be responsible for all marketing and sales activities of Afrezza in India. MannKind is responsible for supplying Afrezza to Cipla.
MannKind will receive a $2.2 million upfront payment from Cipla within 30 days of entering the agreement, with the potential to receive additional regulatory milestone payments, minimum purchase commitment revenue and royalties on Afrezza sales in India.
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Post by uvula on May 9, 2018 8:10:29 GMT -5
NNF1.BE is up 400% on the news. I have no idea what NNF1.BE is.
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Post by traderdennis on May 9, 2018 8:11:16 GMT -5
2.2 millions dollar upfront payment is disappointing.
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Post by goyocafe on May 9, 2018 8:14:01 GMT -5
How long before they get approval?
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Post by sportsrancho on May 9, 2018 8:17:07 GMT -5
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Post by hellodolly on May 9, 2018 8:18:35 GMT -5
2.2 millions dollar upfront payment is disappointing. Two million dollars without regulatory approval yet, in India is a great amount of money!! Basically we got two million dollars for signing a commitment letter to provide something (Afrezza) that hasn't yet been approved... |
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Post by hellodolly on May 9, 2018 8:22:46 GMT -5
www.cipla.com/en/
CIPLA Homepage
//In our fight against diabetes we are committed to introduce new drugs and patient services that focus on better management of this disease// |
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Post by sportsrancho on May 9, 2018 8:26:16 GMT -5
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Post by uvula on May 9, 2018 8:26:40 GMT -5
Will we be able to get any profit sharing details? The agreement could say we sell them Afrezza for what it costs to produce.
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Post by peppy on May 9, 2018 8:27:37 GMT -5
So I see the earning report it's self is going to come out after market.
just observing.
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Post by mnholdem on May 9, 2018 8:27:56 GMT -5
NNF1.BE is up 400% on the news. I have no idea what NNF1.BE is. The ticker for MannKind Corporation stock on the Deutsche Boerse AG German Stock Index DAX (DAX), is NNF1:GR (although the site currently reports " NNF1:GR has changed to a new ticker symbol"). I believe that NNF1:BE is the Belgium exchange.
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Post by goyocafe on May 9, 2018 8:28:04 GMT -5
Will we be able to get any profit sharing details? The agreement could say we sell them Afrezza for what it costs to produce. Cost plus 10% ought to do it. |
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Post by mnholdem on May 9, 2018 8:31:01 GMT -5
Ramping up production in Danbury will significantly drop COGS of producing Afrezza for distribution in India, Brazil and the U.S. This will improve MannKind's profit margin for Afrezza. Now I wonder, could the other term sheet be China? |
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Post by sla55 on May 9, 2018 8:31:26 GMT -5
NNF1.BE is up 400% on the news. I have no idea what NNF1.BE is. The ticker for MannKind Corporation stock on the Deutsche Boerse AG German Stock Index DAX (DAX), is NNF1:GR (although the site currently reports " NNF1:GR has changed to a new ticker symbol"). I believe that NNF1:BE is the Belgium exchange.
MANNKIND CORP. DL-,01 (NNF1.BE) Berlin - Berlin Delayed Price. Currency in EUR |
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