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Sanofi acquires rights to new rapid-acting inhaled insulin therapy for $925 million

BY Michael Johnsen

PARIS — Sanofi on Monday acquired the rights to Afrezza Inhalation Powder, a new rapid-acting inhaled insulin therapy for adults with Type 1 and Type 2 diabetes, from MannKind in a deal that could be worth as much as $925 million. 
 
The companies plan to launch Afrezza in the United States in the first quarter of 2015.
 
Under the collaboration and license agreement, Sanofi will be responsible for global commercial, regulatory and development activities. Under a separate supply agreement, MannKind will manufacture Afrezza at its manufacturing facility in Danbury, Conn. In addition, the companies are planning to collaborate to expand manufacturing capacity to meet global demand as necessary.
 
Under the terms of the agreement, MannKind Corporation will receive an up-front payment of $150 million and potential milestone payments of up to $775 million. The milestone payments are dependent upon specific regulatory and development targets, as well as sales thresholds. 
 
Sanofi and MannKind will share profits and losses on a global basis, with Sanofi retaining 65% and MannKind receiving 35%. Sanofi has agreed to advance to MannKind its share of the collaboration's expenses up to a limit of $175 million.
 
"Afrezza is an innovative drug-device combination product consisting of a dry formulation of human insulin delivered through a small, discreet inhaler," said Pierre Chancel, SVP of Sanofi's diabetes division. "Afrezza is a further addition to our growing portfolio of integrated diabetes solutions. It is uniquely positioned to provide patients with another insulin therapy option to manage their diabetes but does not require multiple daily injections."
 
The closing of the transaction is subject to customary Hart-Scott-Rodino approval and completion of financing documentation.
 
Greenhill & Co. served as exclusive financial advisor to MannKind with respect to this transaction.
 
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LloydsPharmacy launches a new healthcare service concept in U.K.

BY Michael Johnsen

COVENTRY, England — LloydsPharmacy is launching a new healthcare service concept, the Gazette reported Thursday
 
The new approach to community health has been developed to improve access to healthcare information and support, according to the report, and includes free services for a range of conditions, including skin health and pain management.
 
“Our dedicated and experienced team is supporting local residents’ healthcare needs by providing services that complement [general practitioners] and other healthcare professionals by offering convenient, one-to-one support in pleasant, modern surroundings,” pharmacy manager Eammon Doran told The Gazette
 
 
 
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New SoCozy children’s hair care line makes debut

BY Antoinette Alexander

NEW YORK — Cozy Friedman, founder of Cozy's Cuts for Kids Salons NYC and children's hair care expert is launching in August the new SoCozy children’s hair care line, which will be sold at beauty and children's retailers, in stores and online.

"When I created the SoCozy Hair Care Collection, I wanted to address an unfilled unmet need. Nowhere in the market could you find children's hair care products that had premium, high-quality ingredients in kid-safe, custom developed formulations at accessible price points. I saw that parents were being forced to choose between using baby shampoo on their grade schoolers, settling for chemical-filled mass kids' brands, or just using their own adult salon brands on their children. With SoCozy, for the very first time, parents and kids no longer have to compromise,” stated Friedman.

Designed to help parents effortlessly manage their children's hair, SoCozy offers multifunctional formulas with a cool urban flare made just for kids. The Cinch line saves time and makes bathing easy with 2-in-1 and 3-in-1 shampoo, conditioner, and body wash in scents like Mango-go and Guav-o-rama. To keep tangles at bay, there’s Fruity-tutti scented Detangler + Leave in Conditioner makes brushing a "cinch." Kids can express individuality through style with the delectably-fragranced Behave line of styling mousse, cream, and gel to define curls, create volume, and calm frizz. And to prevent and treat the most dreaded children's hair issue—lice—the Boo! collection harnesses a proprietary natural formula including tea tree oil as a lice repellant, in a peppermint, lavender-scented Lice Prevention Shampoo and Spray.  

The products contain no harmful chemicals, toxins, or parabens. They are free of gluten, wheat and nuts and were created with kids' unique hair textures in mind.

Starting in August, SoCozy will be available at beauty and personal care emporiums like C.O. Bigelow Apothecaries, Soap.com and Follica.com; salons such as Pierre Michel; as well as children's shopping destinations including giggle, and more.    
 

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