MannKind Corporation

Last updated

MannKind Corporation
Company type Public
Nasdaq:  MNKD
Russell 2000 Component
Industry Biotechnology
Founded1991;33 years ago (1991)
FounderAlfred E. Mann
Headquarters,
U.S.
Key people
Kent Kresa (chairman)
Dr. Michael E. Castagna (CEO)
RevenueIncrease2.svgUS$63.038 million(2019) [1]
Increase Negative.svgUS$44.597 million(2019) [1]
Increase Negative.svgUS$51.903 million(2019) [1]
Total assets Decrease2.svg$93.725 million (2019) [1]
Total equity Increase2.svg$284.252 million (2019) [1]
Number of employees
Decrease2.svg 233 (2019) [1]
Website mannkindcorp.com

MannKind Corporation is a biopharmaceutical company focusing on the discovery, development, and commercialization of therapeutic products for diseases such as diabetes and pulmonary arterial hypertension. Based in Danbury, Connecticut, the company was founded in February 1991.

Contents

MannKind Corporation was named after its founder, Alfred E. Mann.

History

Founded in February 1991, the company's present form is a result of a 2003 merger of three companies owned by Alfred E. Mann: Pharmaceutical Discovery Corporation (PDC), the cancer vaccine developer CTL ImmunoTherapies, Inc., and its sister company Allecure Corp, which was developing an allergy vaccine technology. Pharmaceutical Discovery was purchased in 2001 from Solomon Steiner; with that purchase MannKind acquired the Technosphere molecule and Medtone inhaler, upon which was developed its lead product, Afrezza (inhalable insulin). [2]

The FDA approved Afrezza on June 27, 2014. [3]

On August 11, 2014 MannKind entered into an exclusive global licensing agreement with Sanofi for Afrezza sales. [4] Under the agreement, MannKind received $150 million cash from Sanofi, in exchange for sharing profits and losses of sales of Afrezza, with 65% for Sanofi and 35% for MannKind. On January 5, 2016, MannKind Corporation announced the termination of the license and collaboration agreement with Sanofi. [4] [5] By December 2017, the company had lost 11% of its trading volume due to the poor sales. [6]

In March 2020, the company announced it was working with fellow pharmaceutical company Immix Biopharma to try to develop an inhalable treatment for acute respiratory distress syndrome, a lung disease. [7]

Products and product candidates

The firm has developed Afrezza a rapid-acting insulin peaking 12 to 15 minutes after inhalation and exiting the body within 2–3 hours. The inhalation technology uses a miniature, breath-powered inhaler in combination with single-use cartridges containing pre-metered doses. Initial pharmacokinetic studies were followed by studies of safety and efficiency involving Technosphere formulations of different therapeutic proteins. [8] [9]

Leadership

Mann was chief executive officer until January 12, 2015 when Hakan Edstrom became CEO and Mann transitioned to executive chairman. [10]

In November 2015, Hakan Edstrom stepped down as CEO and president. Company founder Alfred Mann stepped in as interim CEO on November 19, 2015. [11] In May 2017, Michael Castagna was named CEO of MannKind Corporation. [12]

Facilities

MannKind has a large corporate office in Westlake Village, California. The Afrezza manufacturing facility is in Danbury, Connecticut. [13] In 2022, the company moved its official headquarters to Danbury. [14]

Related Research Articles

An epinephrine autoinjector is a medical device for injecting a measured dose or doses of epinephrine (adrenaline) by means of autoinjector technology. It is most often used for the treatment of anaphylaxis. The first epinephrine autoinjector was brought to market in 1983.

<span class="mw-page-title-main">Salbutamol</span> Short-acting bronchodilator used for acute asthma

Salbutamol, also known as albuterol and sold under the brand name Ventolin among others, is a medication that opens up the medium and large airways in the lungs. It is a short-acting β2 adrenergic receptor agonist that causes relaxation of airway smooth muscle. It is used to treat asthma, including asthma attacks and exercise-induced bronchoconstriction, as well as chronic obstructive pulmonary disease (COPD). It may also be used to treat high blood potassium levels. Salbutamol is usually used with an inhaler or nebulizer, but it is also available in a pill, liquid, and intravenous solution. Onset of action of the inhaled version is typically within 15 minutes and lasts for two to six hours.

Sanofi S.A. is a French multinational pharmaceutical and healthcare company headquartered in Paris, France. The corporation was established in 1973 and merged with Synthélabo in 1999 to form Sanofi-Synthélabo. In 2004, Sanofi-Synthélabo merged with Aventis and renamed to Sanofi-Aventis, which were each the product of several previous mergers. It changed its name back to Sanofi in May 2011. The company is a component of the Euro Stoxx 50 stock market index. In 2023, the company’s seat in Forbes Global 2000 was 89.

<span class="mw-page-title-main">Eli Lilly and Company</span> American pharmaceutical company

Eli Lilly and Company is an American pharmaceutical company headquartered in Indianapolis, Indiana, with offices in 18 countries. Its products are sold in approximately 125 countries. The company was founded in 1876 by Eli Lilly, a pharmaceutical chemist and Union Army veteran of the American Civil War for whom the company was later named.

<span class="mw-page-title-main">Cromoglicic acid</span> Chemical compound

Cromoglicic acid (INN)—also referred to as cromolyn (USAN), cromoglycate, or cromoglicate—is traditionally described as a mast cell stabilizer, and is commonly marketed as the sodium salt sodium cromoglicate or cromolyn sodium. This drug prevents the release of inflammatory chemicals such as histamine from mast cells.

<span class="mw-page-title-main">Inhaler</span> Medical device used to deliver medicines into lungs

An inhaler is a medical device used for delivering medicines into the lungs through the work of a person's breathing. This allows medicines to be delivered to and absorbed in the lungs, which provides the ability for targeted medical treatment to this specific region of the body, as well as a reduction in the side effects of oral medications. There are a wide variety of inhalers, and they are commonly used to treat numerous medical conditions with asthma and chronic obstructive pulmonary disease (COPD) being among the most notable.

<span class="mw-page-title-main">Celgene</span> American biopharmaceutical company

Celgene Corporation is a pharmaceutical company that makes cancer and immunology drugs. Its major product is Revlimid (lenalidomide), which is used in the treatment of multiple myeloma, and also in certain anemias. The company is incorporated in Delaware, headquartered in Summit, New Jersey, and a subsidiary of Bristol Myers Squibb (BMS).

<span class="mw-page-title-main">Inhalable insulin</span> Powdered insulin delivered with an inhaler

Inhalable insulin is a powdered form of insulin, delivered with an inhaler into the lungs where it is absorbed. In general inhaled insulins have been more rapidly absorbed than subcutaneous injected insulin, with faster peak concentration in serum and more rapid metabolism.

<span class="mw-page-title-main">Hospira</span> American pharmaceutical company

Hospira was an American global pharmaceutical and medical device company with headquarters in Lake Forest, Illinois. It had approximately 19,000 employees. Before its acquisition by Pfizer, Hospira was the world's largest producer of generic injectable pharmaceuticals, manufacturing generic acute-care and oncology injectables, as well as integrated infusion therapy and medication management systems. Hospira's products are used by hospitals and alternate site providers, such as clinics, home healthcare providers and long-term care facilities. It was formerly the hospital products division of Abbott Laboratories. On September 3, 2015, Hospira was acquired by Pfizer, who subsequently sold off the medical devices portion of Hospira to ICU Medical.

<span class="mw-page-title-main">Alfred E. Mann</span> American businessman

Alfred E. Mann, also known as Al Mann, was an American physicist, inventor, entrepreneur, and philanthropist.

<span class="mw-page-title-main">Apotex</span> Canadian pharmaceutical company

Apotex Inc. is a Canadian pharmaceutical corporation. Founded in 1974 by Barry Sherman, the company is the largest producer of generic drugs in Canada, with annual sales exceeding CA$2.5 billion. By 2023, Apotex employed close to 8,000 people as Canada's largest drug manufacturer, with over 300 products selling in over 115 countries. Apotex manufactures and distributes generic medications for a range of diseases and health conditions that include cancer, diabetes, high cholesterol, glaucoma, infections and blood pressure.

<span class="mw-page-title-main">Dry-powder inhaler</span> Device that delivers medication to the lungs in the form of a dry powder

A dry-powder inhaler (DPI) is a device that delivers medication to the lungs in the form of a dry powder. DPIs are commonly used to treat respiratory diseases such as asthma, bronchitis, emphysema and COPD although DPIs have also been used in the treatment of diabetes mellitus.

Melinta Therapeutics, founded in 2000 as Rib-X Pharmaceuticals, is an American publicly traded biopharmaceutical firm that focuses on the design and development of novel broad-spectrum antibiotics for the treatment of antibiotic-resistant infections in hospital settings. The company is located in Parsippany, New Jersey.

<span class="mw-page-title-main">Insulin (medication)</span> Use of insulin protein and analogs as medical treatment

As a medication, insulin is any pharmaceutical preparation of the protein hormone insulin that is used to treat high blood glucose. Such conditions include type 1 diabetes, type 2 diabetes, gestational diabetes, and complications of diabetes such as diabetic ketoacidosis and hyperosmolar hyperglycemic states. Insulin is also used along with glucose to treat hyperkalemia. Typically it is given by injection under the skin, but some forms may also be used by injection into a vein or muscle. There are various types of insulin, suitable for various time spans. The types are often all called insulin in the broad sense, although in a more precise sense, insulin is identical to the naturally occurring molecule whereas insulin analogues have slightly different molecules that allow for modified time of action. It is on the World Health Organization's List of Essential Medicines. In 2021, it was the 179th most commonly prescribed medication in the United States, with more than two million prescriptions.

<span class="mw-page-title-main">Tiotropium bromide</span> Long-acting bronchodilator in the maintenance of COPD and asthma

Tiotropium bromide, sold under the brand name Spiriva among others, is a long-acting bronchodilator used in the management of chronic obstructive pulmonary disease (COPD) and asthma. Specifically it is used during periods of breathing difficulty to prevent them from getting worse, rather than to prevent them from happening. It is used by inhalation through the mouth. Onset typically begins within half an hour and lasts for 24 hours.

<span class="mw-page-title-main">United Therapeutics</span> American biotech company based in Maryland

United Therapeutics Corporation is an American publicly traded biotechnology company and public benefit corporation listed on the NASDAQ under the symbol UTHR. It develops novel, life-extending technologies for patients in the areas of lung disease and organ manufacturing. United Therapeutics is co-headquartered in Silver Spring, Maryland and Research Triangle Park, North Carolina, with additional facilities in Magog and Bromont, Quebec; Melbourne and Jacksonville, Florida; Blacksburg, Virginia; and Manchester, New Hampshire.

<span class="mw-page-title-main">Incyte</span> American pharmaceutical company

Incyte Corporation is an American multinational pharmaceutical company with headquarters in Wilmington, Delaware, and Morges, Switzerland. The company was created in 2002 through the merger of Incyte Pharmaceuticals, founded in Palo Alto, California in 1991 and Incyte Genomics, Inc. of Delaware. The company currently operates manufacturing and R&D locations in North America, Europe, and Asia.

Insulin glargine/lixisenatide, sold under the brand name Soliqua among others, is a fixed-dose combination medication that combines insulin glargine and lixisenatide and is used to treat diabetes.

<span class="mw-page-title-main">Hanmi Pharm</span> South Korean pharmaceutical company

Hanmi Pharm Co., Ltd. is a South Korean pharmaceutical company that is headquartered in Seoul.

<span class="mw-page-title-main">Arven Pharmaceuticals</span>

Arven Pharmaceuticals is a Turkish pharmaceutical corporation headquartered in Istanbul established as a subsidiary of Toksöz Group in 2013. Arven's primary focus is development and production of high-technology inhaler and biotechnology products. The company is specialized on difficult to make products. Arven is the first Turkish company developing biosimilars for global markets, including the US and EU.

References

  1. 1 2 3 4 5 6 "MannKind Corporation". investors.mannkindcorp.com. November 16, 2020.
  2. "Mannkind Corporation, "8K" filing". sec.gov. Securities and Exchange Commission. March 16, 2009.
  3. "Afrezza (insulin human) Inhalation Powder". fda.gov. Retrieved April 16, 2020.
  4. 1 2 "Sanofi and MannKind Announce Global Licensing Agreement for Afrezza (insulin human) Rapid-Acting Inhaled Insulin". MannKind Corporation. Retrieved December 25, 2014.
  5. "MannKind Corporation - MannKind Corporation Announces Termination of License and Collaboration Agreement With Sanofi". investors.mannkindcorp.com. Archived from the original on March 4, 2016.
  6. Budwell, George. "Why MannKind Corporation Stock Is Sinking Today". The Motley Fool. Retrieved January 23, 2018.
  7. "MannKind Shifts Research to Coronavirus Treatment". San Fernando Valley Business Journal. March 17, 2020. Retrieved April 16, 2020.
  8. MannKind Corporation, 8K filing with Securities and Exchange Commission 2009
  9. Brashier, Dick B. S.; Khadka, Anjan; Anantharamu, Tejus; Sharma, Ashok Kumar; Gupta, A. K.; Sharma, Sushil; Dahiya, N. (January 1, 2015). "Inhaled insulin: A "puff" than a "shot" before meals". Journal of Pharmacology & Pharmacotherapeutics. 6 (3): 126–129. doi: 10.4103/0976-500X.162013 . ISSN   0976-500X. PMC   4544132 . PMID   26311994.
  10. Calia, Michael (January 12, 2015). "MannKind Appoints Edstrom CEO as Mann Steps Aside". Wall Street Journal. Retrieved January 13, 2015.
  11. "Mannkind CEO steps down". NewsTimes.com. November 23, 2015.
  12. "BRIEF-Mannkind board appoints Michael Castagna as CEO effective May 25, 2017". Reuters. May 30, 2017. Retrieved April 16, 2020.
  13. "Mannkind regains marketing rights to inhaled insulin | Westfair Communications". westfaironline.com. April 8, 2016. Retrieved April 26, 2016.
  14. "CA pharmaceutical company now officially calls Danbury home". The News-Times . January 19, 2022. Retrieved June 1, 2022.