MannKind (MNKD) Posts Q3 EPS of 26c, Topping Views

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MannKind (MNKD) Enters Settlement Agreement with Sanofi (SNY)

November 9, 2016 5:12 PM EST

MannKind (NASDAQ: MNKD) disclosed the following on Wednesday night:

Item 1.01 Entry into a Material Definitive Agreement.

On November 9, 2016 (the Effective Date), MannKind Corporation (the Company), Technosphere International C.V. (TICV) and MannKind Netherlands B.V. (BV and together with the Company, TICV and their respective affiliates, the MannKind Entities) entered into a settlement agreement (the Settlement Agreement) with sanofi-aventis U.S. LLC (Sanofi, together with its affiliates, the Sanofi Entities).

Under the terms of the Settlement Agreement, Sanofi has agreed to purchase $10.2 million of insulin from the Company by December 3, 2016 under the insulin put option (the... More