MannKind Appoints Edstrom CEO as Mann Steps Aside

By Michael Calia 

MannKind Corp. said Monday that its board appointed Hakan Edstrom chief executive officer as founder Alfred Mann stepped aside to become executive chairman.

Mr. Edstrom, who joined the biopharmaceutical company in 2001, will continue to act as president. He has also served as its operating chief since 2001.

The executive shift comes just before MannKind's first therapy--Afrezza, an inhalable insulin for adults with diabetes--launches this quarter.

The Food and Drug Administration approved the treatment in June, after which MannKind reached a world-wide collaboration and marketing deal with Sanofi.

MannKind said last week that it has earned a total of $50 million in milestone payments related to its Sanofi deal on top of a previous $150 million upfront payment.

The company is eligible to earn as much as $725 million in further milestone payments, as well as a share of profits on the drug.

Write to Michael Calia at [e-mail]

Access Investor Kit for Sanofi

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=FR0000120578

Access Investor Kit for MannKind Corp.

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US56400P2011

Access Investor Kit for Sanofi

Visit http://www.companyspotlight.com/partner?cp_code=P479&isin=US80105N1054

Subscribe to WSJ: http://online.wsj.com?mod=djnwires