Billionaire Alfred Mann must not have liked watching stock in the company bearing his name fall to another new low today in the wake of Eli Lilly giving up on inhaled insulin.
Although Alkermes could presumably find another corporate partner to try to rescue its "AIR Insulin" product, MannKind is the only company left still actively developing an inhalable form of diabetic insulin. And so this afternoon, MannKind put out a press release with the header, "MannKind Corporation Response to Recent Market Events", reaffirming its commitment to the device. "MannKind is absolutely commited to the continued development of its lead development product, Technosphere Insulin," the statement says.
The release goes on in detail about the product's safety and efficacy. The company is testing Technosphere on more than 5,000 people and more than 2,000 of them are in a two-year study to specifically measure the impact, if any, on lung function.