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MannKind triples Afrezza production capacity despite slow ramp up; shares off 3% premarket

  • MannKind (NASDAQ:MNKD) shares fall 3% premarket on light volume as partner Sanofi (SNY) reports that sales of MannKind's fast-acting inhaled insulin product Afrezza slump in 2Q 2015. Reported sales were $2.2 million.
  • Analysts widely expected a sales disappointment for Afrezza in Q2 as a result of minimal insurance coverage and lack of marketing focus.
  • Despite lackluster sales, MannKind announces it will triple production capacity to support the Afrezza launch. With the added capacity, the company expects to support a demand of more than 300 million cartridges per year.

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