Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
VALENCIA, Calif., Nov. 09, 2016 -- MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) today announced that MannKind and Sanofi have entered into an agreement with the following terms:
- The promissory note and security agreement between MannKind and Aventisub LLC, a Sanofi affiliate, are terminated, with Aventisub agreeing to forgive the full outstanding loan balance of $71.56 million.
- MannKind is also relieved from its obligation to pay $0.5 million in previously uncharged costs related to the collaboration.
- Sanofi will purchase $10.2 million worth of insulin from MannKind in early December as part of its preexisting commitment to purchase insulin following termination of the collaboration and MannKind’s exercise of a “put” option.
- The balance of the insulin “put” option ($30.6 million) is accelerated with Sanofi completing the cash payment of $30.6 million to MannKind by January 9, 2017. This payment will be made without MannKind being required to deliver any insulin to Sanofi.
- All issues arising out of the license and collaboration agreement, the supply agreement, the promissory note, the security agreement and the transition agreement are resolved.
About MannKind Corporation
MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) focuses on the discovery, development and commercialization of therapeutic products for patients with diseases such as diabetes. MannKind maintains a website at http://www.mannkindcorp.com to which MannKind regularly posts copies of its press releases as well as additional information about MannKind. Interested persons can subscribe on the MannKind website to e-mail alerts that are sent automatically when MannKind issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the website.
Company Contact: Rose Alinaya SVP, Finance 661-775-5300 [email protected]
