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August 11, 2014
11:58 EDTSNY, LLY, MNKD, NVOMannKind rallies after inking licensing agreement with Sanofi
Shares of MannKind (MNKD), a development-stage biopharmaceutical company, are rallying after the company announced that it has formed an exclusive licensing agreement for the development and commercialization of Afrezza inhaled insulin with drug giant Sanofi (SNY). WHAT'S NEW: MannKind and Sanofi this morning said they would develop and commercialize Afrezza for adults with diabetes. The companies plan to launch Afrezza in the United States in the first quarter of 2015. Under the terms of the agreement, MannKind will receive an upfront payment of $150M and potential milestone payments of up to $775M. Sanofi will be responsible for global commercial, regulatory and development activities, while MannKind will manufacture Afrezza at its manufacturing facility in Danbury, Connecticut. The companies are also planning to collaborate to expand manufacturing capacity to meet global demand as necessary. Sanofi and MannKind will share profits and losses on a global basis, with Sanofi retaining 65% and MannKind receiving 35%. Sanofi has agreed to advance to MannKind its share of the collaboration's expenses up to a limit of $175M, the companies said. WHAT'S NOTABLE: MannKind also reported its second quarter earnings this morning. Second quarter losses per share were (19c), missing analysts' consensus expectation of (12c). Total operating expenses for the quarter were $69.8M versus $41.6M in the year-ago period and research and development expenses increased by $10.2M to $37.3M compared to the same quarter in 2013. ANALYST REACTION: Piper Jaffray, which has a Neutral rating on MannKind shares, views the Sanofi partnership as "impressive" given the "meaningful" upfront payment, shared economics and an advance of expenses. Piper believes investors will view the partnership and terms favorably. PRICE ACTION: Near noon, MannKind shares were up 91c, or 11%, to $9.04, while Sanofi shares were up 7c, or 0.1%, to $52.39. OTHERS TO WATCH: Novo Nordisk (NVO) and Eli Lilly (LLY) also make fast-acting insulin.
News For MNKD;SNY;NVO;LLY From The Last 14 Days
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December 19, 2014
09:48 EDTLLYBiogen should be bought on weakness after Roche drug halted, says Evercore ISI
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08:53 EDTLLYBiogen drug, trial differs from Roche Alzheimer's drug, says RBC Capital
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05:39 EDTLLYEli Lilly, Adocia to co-develop BioChaperone Lispro
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December 18, 2014
08:03 EDTNVOXencor and Novo Nordisk partner for novel drug development
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December 16, 2014
14:48 EDTLLYEli Lilly's CYRAMZA receives third FDA approval
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December 15, 2014
16:33 EDTLLYEli Lilly raises quarterly dividend 2% to 50c per share
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December 12, 2014
12:52 EDTLLYEli Lilly: FDA expands approved use of Cyramza to treat lung cancer
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08:01 EDTMNKDPiper predicts two large-cap biotechs could be acquired in 2015
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December 11, 2014
10:13 EDTLLYOn The Fly: Analyst Upgrade Summary
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08:40 EDTLLYEli Lilly upgraded at Morgan Stanley
As previously reported, Morgan Stanley upgraded Eli Lilly two notches to Overweight from Underweight. The firm has increased confidence in Eli Lilly's pipeline investments following recent external data in Alzheimer's and atherosclerosis and now expects potential evacetrapib peak sales of $3B and solanezumab peak sales of $10B. Price target raised to $85 from $60.
06:22 EDTLLYEli Lilly upgraded to Overweight from Underweight at Morgan Stanley
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December 9, 2014
12:22 EDTNVOPiper Jaffray biopharm analyst holds an analyst/industry conference call
Senior Research Analyst Schimmer, along with Biopharmaceuticals Analyst Breazzano, discuss gene therapy for hemophilia on an Analyst/Industry conference call to be held on December 11 at 10 am.
11:19 EDTSNYSanofi reportedly ready to make acquisitions in animal medicine, Bloomberg says
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07:44 EDTLLYAmerican Association for Cancer Research to hold a symposium
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07:11 EDTLLYEli Lilly and Incyte announce Phase 3 RA-BEACON study met primary endpoint
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December 8, 2014
08:10 EDTLLYLilly, Anthem, HealthCore form five-year research collaboration
Eli Lilly and Company (LLY), Anthem (ANTM) and HealthCore, Inc. announced that they have formed a five-year, real-world evidence research collaboration intended to improve health outcomes for patients. The companies will jointly develop and conduct research projects in health outcomes and real-world evidence in areas of mutual interest. Each party will bring distinct and valuable contributions to the collaboration, including the U.S. provider and patient environment, research capabilities, therapeutics and methods expertise, and integrated, researchable data. The collaboration allows the organizations to explore research opportunities across disease states and incorporate surveys and other information from providers and patients.
05:50 EDTMNKDStocks with implied volatility movement; AVNR MNKD
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