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Food and Drug Administration

MannKind's shares fall 9% as Afrezza sales lag

MannKind's shares fall 9% as Afrezza sales lag

Sales of MannKind Corp.’s inhaled insulin drug Afrezza continued to lag in the second quarter of the year. Sanofi, the French pharmaceutical company that’s selling Afrezza in a partnership agreement with MannKind, said it sold just $2.2 million of the drug in the quarter that ended June 30. That means that in its first five months, sales have reached just $3.3 million – a disappointing result considering some analysts expect sales to reach $1 billion a year. MannKind’s stock was down 43 cents, or 9.7%%, to $4.01 in early trading. The Valencia company gained Food and Drug Administration approval of Afrezza in June 2014, following more than a decade of research,...

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