MannKind Corp. to purchase insulin manufacturing plant

VALENCIA, Calif. MannKind Corp. will purchase a Pfizer insulin manufacturing plant in Germany.

The Valencia, Calif.-based company announced Monday that it would acquire the plant at Industriepark Hoechst, in Frankfurt, as well as production equipment, bulk insulin, licensing and property rights, for $33 million. MannKind plans to retain more than half of the plant’s workforce.

The company hopes the plant will complement the plant it uses to manufacture Afresa, a fast-acting insulin product that had completed phase 3 clinical trials.

“The insulin plant in Frankfurt is a state-of-the-art insulin production facility that would make an excellent counterpart to our formulation, fill and finish facility for Afresa in Danbury, Conn.,” MannKind chairman and CEO Alfred Mann said in a statement. “Upon the closing of this transaction, we will obtain an immediate supply of insulin and the ability to supply our insulin needs for the future, even if we are unable to acquire the facility itself. We are pleased with this opportunity to secure our insulin supply, which brings Afresa one step closer to commercial readiness.”