MannKind Terminates License Deal With Sanofi For Afrezza Inhalation Powder

(RTTNews) - MannKind Corp. (MNKD) said it has terminated its license and collaboration agreement with sanofi-aventis U.S. LLC (SNYNF, SNY) for the development and commercialization of Afrezza (insulin human) Inhalation Powder.

The two companies will promptly start transition discussions in order to effect a smooth and orderly transition in the development and commercialization of Afrezza from Sanofi to MannKind over the next 90 to 180 days.

MannKind noted that in any event, termination of the license agreement in its entirety will be effective no later than six months from the effective date of Sanofi's notice of termination, or July 4, 2016.

MannKind is reviewing its strategic options for Afrezza due to the termination of the collaboration with Sanofi.