MannKind Corporation (NASDAQ: MNKD) released news today that shows that the company has a heart for those in need. Not only that, this news was a creative and philanthropic way of getting rid of Afrezza stocks that are going out of date. Here’s what’s going on…
MNKD Responds To Hurricane Harvey With Afrezza®
As mentioned above, MannKind has found a way to unload its Afrezza that is going to expire soon. The company announced today that it has shown its support for victims of Hurricane Harvey with a donation of Afrezza® inhalation powder. It is expected that the donation will be shipped this week to Insulin for Life USA, Inc. This is a non-profit organization designed to aid those living with diabetes.
MNKD made no small donation either. The company announced that it has authorized more than 27,000 cartridges of insulin for the donation to Insulin for Life USA. In a statement, Michael Castagna, CEO at MNKD, had the following to offer:
“In times of crisis, many of us rely on our good health to help us get to better days… Among the millions of residents impacted by Hurricane Harvey are people who must manage their diabetes to maintain good health – but are separated by circumstances from their supplies. Extending a helping hand is consistent with our company’s values, and simply the right thing to do.
When it comes to rebuilding a life following a major event like Hurricane Harvey things rarely go according to schedule… We hope that our support provides some relief to those in need during such a challenging time.”
In Other News
While the news of the donation is incredibly positive news, there has been a bit of other news surrounding MNKD recently. In fact, many are suggesting that the company will soon be taken over by either Amgen or Merck & Co. At the moment, this is nothing more than a rumor. There has been no confirmation on either side that insinuates that either of these companies are interested in taking MNKD over. Nonetheless, it wouldn’t be out of the question, as both companies have the potential to benefit greatly from the assets that MannKind has to offer.
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What We’ll Be Watching For Ahead
Moving forward the CNA Finance team will continue to keep a close eye on MNKD. In particular, we’re interested in following the company through the continued commercialization of Afrezza as sales continue to pick up. We’re also interested in seeing the new commercial ads on major networks and excited to see how sales go once this starts. Finally, we’ll follow the story with regard to the potential takeover of the company. We’ll continue to follow the news closely and bring it to you as it breaks!
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