NEW YORK, May 14, 2014 /PRNewswire/ -- MannKind Corporation (NASDAQ: MNKD) In the U.S. alone, roughly 1 of 12 people are managing diabetes. China has approximately 100 million diabetic patients as of 2012 statistics. Total global insulin sales have grown an average of $4 billion a year between 2011 and 2012 ( $16.8B in 2011 and $20.8B in 2012). However, in 2013, sharp price increases sent the total market up to $35 billion. By 2018, total insulin sales are expected to increase 66% to reach more than $58 billion due to continued increase in price and patients.
MannKind has developed a product called AFREZZA for the delivery of insulin in Type 1 and Type 2 diabetic patients. The simplistic description of AFREZZA is that it's an insulin inhaler that could render insulin injections obsolete in the future.
MNKD presented its clinical trials data to an FDA Advisory Panel in April and that panel overwhelmingly recommended AFREZZA for FDA approval. The FDA calendar currently has AFREZZA scheduled for review on July 15th. MannKind and its investors have a lot at stake pending the FDA approval in July.
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