Afrezza Partnered…Now What? 
Posted by Carlos on Aug 11, 2014



This morning we learned that Sanofi is the winner in the “Where on Earth is the Partner for Afrezza?” sweepstakes.

We’ll defer to the many news outlets for the details. But one interesting take on the deal is from A few good points were raised:

  • Sanofi advanced $175 MM to MannKind as part of the deal, which presumably MannKind will have to repay.
  • Both Profits and Losses will be shared. Unlike relatively neat and clean Royalty deals, this means both Sanofi and MannKind will smile and cry together, depending on how the product performs.
  • The deal clearly works in Sanofi’s favor. Does this reflect the unpartner-ability of this asset? Possibly.
  • What remains unknown to us is how well Afrezza will be reimbursed by the payers.

It will be really interesting to see some of the sales number when they start coming out next year.

For a more detailed analysis of the rationale for this deal from a Sanofi perspective, check out this article on

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