Mannkind taps medtech reps after Sanofi deal fails

Mannkind chief commercial officer Michael Castagna is trying to resuscitate the inhaled insulin maker after its co-marketing agreement with Sanofi (NYSE:SNY) was cancelled at the beginning of the year due to disappointing sales. He’s fielding a team of about 70 people to sell the company’s Afrezza insulin inhaler, with about ⅓ coming from the medical device industry. “We are looking to build a high energy nimble company that reflects the speed of the medical device industry, articulation of the science from biotech and a relentless focus on helping patients suffering from diabetes,” Castagna told Fortune. But at Mannkind, time is running out. The company owes Sanofi $68.8 million and had $27.7 million in cash on hand as of May, down from $59.1 million to start the year. The company also faces some challenges with their product, including the need for spirometry and titration, 2 tasks that make prescribing and administering the combination product less convenient than standard injectable competitors in the fast-acting segment of the market. “We know about ⅓ of our targets already have a spirometry machine in the office. Another ⅓ have a referral source, and our research indicates a device at a price point of about $400 to $750 is something most physician practices will buy,” Castagna said. The company plans to offer Afrezza with a new titration pack of 180 insulin cartridges instead of 90, in order to help patients adjust their dose during the titration perio...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Business/Financial News Diabetes Drug-Device Combinations Mannkind Corp. Sanofi-Aventis newtag Source Type: news