Los Angeles billionaire-inventor Alfred Mann's almost decade-long quest to develop an inhalable form of insulin for diabetics won approval Friday from U.S. regulators.
The Food and Drug Administration said it cleared Afrezza for Type 1 and Type 2 diabetes. The drug is a powder that is inhaled. It would be most often used to help control blood-sugar levels at mealtime, a quick puff replacing an injection before a meal.
It’s been a long, expensive journey to get Afrezza to this stage. MannKind has spent about $1.8 billion developing the drug, with about $975 million of that coming from Mann’s personal wealth. It took almost eight years seeking approval of the diabetes therapy since starting late-stage clinical trials.