MannKind Corp.: Sagard Healthcare Purchases 1% Royalty In Tyvaso DPI Net Sales

(RTTNews) - MannKind Corp. (MNKD) has sold a 1% royalty in net sales of Tyvaso DPI inhalation powder to Sagard Healthcare in exchange for up to $200 million, including the purchase price of $150 million and an additional potential milestone payment of up to $50 million. Sagard Healthcare will receive royalty payments of the net sales that occur between October 1, 2023 and December 31, 2042, with MannKind retaining a 9% royalty.

United Therapeutics licensed Tyvaso DPI from MannKind in 2018 and began marketing it in June 2022 for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease. Pursuant to the license agreement with United Therapeutics, MannKind is entitled to a 10% royalty on net sales of Tyvaso DPI.

Sagard is a multi-strategy alternative asset management firm.

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