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Early sales of MannKind inhaled insulin drug disappoint Wall Street
Early sales of MannKind inhaled insulin drug disappoint Wall Street

Early sales of MannKind Corp.'s new inhaled insulin drug were less than expected, and the Valencia company's stock skidded to near a one-year low. French pharmaceutical company Sanofi, which is marketing the drug, Afrezza, in a partnership with MannKind, said first-quarter U.S. sales came in at about $1.1 million. MannKind is expected to discuss its first-quarter results next week. Maxim Jacobs, an analyst with Edison Investment Research in London, said in a research note that the Afrezza sales number was "terribly disappointing considering the size of the market." Sanofi said in a statement that it expects Afrezza sales to build slowly. The company said it...

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