An Insulin Inhaler delivers powdered insulin with Type 1 and Type 2 diabetes
An inhaled insulin device made by MannKind Corp proved more effective than injected and oral treatments in trials, potentially improving the quality of life for millions of diabetics and creating a multi-billion dollar opportunity for the company.
The product, Afrezza, is a whistle-sized inhaler that delivers powdered insulin to adults with Type 1 and Type 2 diabetes. This ease the use of insulin compared to regular shots, it has the potential to capture a big share of the global insulin market.
The number of diabetic patients is increasing worldwide and is projected to cross half a billion by 2030. According to a July report by Transparency Market Research, the global insulin market is expected to reach $32 billion in 2018.
MLV & Co analyst Graig Suvannavejh expects Afrezza to get regulatory approval; to market the company successfully.
He estimates U.S. and European sales of about $3 billion for Afrezza by 2025.
The inhaled insulin market has seen high-profile commercial failure in the past. Pfizer Inc withdrew Exubera in 2007 due to poor sales. The large size of the device and a high price were blamed for its failure.
Suvannavejh said a potential partner for MannKind could come from among such major diabetes players as Denmark’s Novo Nordisk, French drugmaker Sanofi, Bristol-Myers Squibb, Merck & Co Inc, Eli Lilly & Co and Johnson & Johnson.