MannKind Corporation (NASDAQ:MNKD) and BIOMM SA today went ahead to make the much awaited announcement. They just made their entry into an agreement that will see them commercialize Afrezza® (insulin human) Inhalation Powder in Brazil.
The supply and distribution agreement provides that Biomm will be entrusted with preparing as well as filing the necessary applications for regulatory approval of Afrezza. MannKind is looking forward to gain approval for its product from the regulatory bodies.
That will provide it with the confidence it needs to move on and manufacture Afrezza and supply it to Biomm. From that point, Biomm will proceed to promote as well as distribute Afrezza within Brazil. It is a moment of great business transformation for the two business partners.
The Chief Executive Officer of MannKind Corporation, Michael Castagna while recently speaking to a number of top news reporters said, “Our founder, Alfred Mann, had a vision to reduce the global burden of diabetes through novel technologies. In 2015, more than 14 million people were estimated to have diabetes in Brazil. Given Biomm’s presence and knowledge of the diabetes market in Brazil, we believe that Biomm is the ideal partner to reach healthcare providers and patients with the message that there is another potential option in their fight against diabetes.”
It goes without saying that it is the pioneering biotechnology provider in Brazil. The company’s board believes that it can move ahead and leverage its current portfolio of diabetes products in a bid to present an alternative option to the ever growing numbers of the diabetes patients. One of the top executives working with the company said that they were very much excited to be going down records as the first company to avail the inhaled mealtime insulin to the Brazilian market.
Competition has escalated in the world markets, especially among the drug manufacturing companies. There has therefore been the need to set up the right strategies in order to compete effectively. The two industry leaders hope to achieve so much in years to come in terms of achieving immense business success following the recent collaboration. However, we will just have to wait and see.