MannKind Snares Sanofi, Intercept Soars & Southwest's Mexico Move
MannKind signed a $925 million licensing pact with French drug maker Sanofi this week to sell its diabetes drug Afrezza. Afrezza is an inhaled powder that works faster than conventional injected forms of insulin for type 1 and type 2 diabetes. Meanwhile, Intercept Pharmaceuticals stock surged Tuesday after the company said its drug to treat liver disease was effective in mid-stage trials. Intercept said liver scarring did not worsen in 46% of patients given the drug, compared with 21% in the placebo group. Finally, Southwest shares took off Monday after the airline launched its first flights to Mexico. Southwest now flies into Cancun and Cabo San Lucas, taking over AirTran’s flights to the cities.