MannKind Corporation Announces Agreement to Acquire V-Go Insulin Delivery Device From Zealand Pharma
MannKind Corporation recently announced it has entered into an agreement with Zealand Pharma A/S to acquire V-Go for $10 million, with additional sales-based milestones plus the cost of certain inventory. The acquisition of V-Go allows MannKind to expand its portfolio and strengthen its commitment to providing innovative mealtime diabetes solutions.
“MannKind is passionate about being a leader in mealtime control to address this unmet need within the diabetes community,” said Michael Castagna, PharmD, Chief Executive Officer of MannKind Corporation. “This acquisition strategically leverages our infrastructure in the diabetes space and positions MannKind’s endocrine business for additional growth.”
“This transaction is an important step forward in executing on the strategic changes we announced at the end of March, to find partners for our commercial products and refocus our priorities on R&D,” said Adam Steensberg, MD, Chief Executive Officer of Zealand Pharma. “We believe we have found the right partner to fully leverage the value of V-Go and ensure continued availability of the product by patients and prescribers.”
V-Go is a once-daily, wearable, insulin delivery device that helps provide blood sugar control for everyday lifestyles. Designed to be patient-friendly, V-Go is worn like a patch and eliminates the need for taking multiple daily shots.
“The easy click-and-go mechanism of V-Go and its ability to be flexibly placed on your body each day aligns with our mission of providing products that allow patients living with diabetes to experience life without limits,” said Alejandro Galindo, Executive Vice President, Endocrine Business Unit for MannKind Corporation. “V-Go joins our ultra rapid-acting inhaled insulin product, Afrezza, in expanding MannKind’s portfolio of products that change the way diabetes is treated.”
The acquisition of V-Go by MannKind is anticipated to close in May 2022, subject to the satisfaction of certain closing conditions.
MannKind Corporation focuses on the development and commercialization of inhaled therapeutic products for patients with endocrine and orphan lung diseases. MannKind is currently commercializing Afrezza (insulin human) Inhalation Powder, the company’s first FDA-approved product and the only inhaled ultra rapid-acting mealtime insulin in the United States, where it is available by prescription from pharmacies nationwide. Afrezza is also available by prescription in Brazil, where it is commercialized by the company’s partner, Biomm SA. MannKind was established in 1991, and is located in Danbury, CT, and Westlake Village, CA. The company also employs field sales and medical representatives across the US. For more information, visit mannkindcorp.com.
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