Biopharmaceutical company sells part of Tyvaso DPI royalties to asset manager Sagard
- MannKind sells 1% royalty interest in Tyvaso DPI sales to Sagard
- Deal worth up to $200 million
- Initial payment of $150 million received
- Potential milestone payment of up to $50 million based on sales
- MannKind retains 9% royalty, Sagard receives 1% royalty through 2042
- MannKind reported $51 million in royalties for Tyvaso DPI
MannKind has sold a 1% royalty interest in sales of the lung-disease treatment Tyvaso DPI to asset manager Sagard in a deal worth up to $200 million. The biopharmaceutical company received an initial payment of $150 million and is eligible for a potential milestone payment of up to $50 million based on sales of the drug. MannKind licensed Tyvaso DPI to United Therapeutics in 2018, and United Therapeutics began marketing the drug in June 2022 for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease. MannKind retains a 9% royalty on Tyvaso DPI sales, while Sagard will receive a 1% royalty on sales through 2042. For the nine months ended Sept. 30, MannKind reported royalties related to Tyvaso DPI of $51 million.
Public Companies: MannKind (Unknown), United Therapeutics (Unknown)
Private Companies: Sagard
Key People: Colin Kellaher (Unknown)
Factuality Level: 8
Justification: The article provides specific details about the sale of a 1% royalty interest in sales of the lung-disease treatment Tyvaso DPI to asset manager Sagard. It mentions the initial payment of $150 million and the potential milestone payment of up to $50 million based on sales of the drug. It also states that MannKind retains a 9% royalty and Sagard will receive a 1% royalty on Tyvaso DPI sales through 2042. The article includes information about the licensing of Tyvaso DPI to United Therapeutics and the purpose of the drug. It also mentions the royalties reported by MannKind for the nine months ended Sept. 30. Overall, the article provides specific and factual information about the deal and the companies involved.
Noise Level: 7
Justification: The article provides information about a deal between MannKind and Sagard regarding the sale of a royalty interest in Tyvaso DPI. It includes details about the initial payment, potential milestone payment, and the licensing of Tyvaso DPI to United Therapeutics. However, the article lacks analysis, scientific rigor, and actionable insights. It mainly focuses on the financial aspects of the deal and does not explore the consequences or long-term trends in the pharmaceutical industry.
Financial Relevance: Yes
Financial Markets Impacted: The sale of the royalty interest in Tyvaso DPI may impact MannKind’s financial position and potentially its stock price.
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to a financial transaction involving MannKind selling a royalty interest in Tyvaso DPI. There is no mention of any extreme events or their impact.
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