Issue Date: March 16, 2009
MannKind Will Acquire Pfizer Insulin Plant
MannKind has agreed to purchase Pfizer's insulin factory in Frankfurt, including a quantity of insulin and a license to make it for pulmonary delivery. MannKind will pay $33 million, which may include up to $30 million worth of its stock. Soon to file with the FDA for approval, MannKind has developed the rapid-acting insulin product called Afresa, which is delivered to the lungs as small pH-sensitive particles. Pfizer had built the facility for its failed inhaled insulin product, Exubera. MannKind says the Pfizer site, at which it plans to keep more than half the workforce, complements its Afresa formulation and finishing facility in Danbury, Conn.
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