MannKind to Participate in 2022 Medicare Part D Senior Savings Model to Make Insulin More Affordable for Seniors

WESTLAKE VILLAGE, Calif., March 15, 2021 (GLOBE NEWSWIRE) — MannKind Corporation (Nasdaq: MNKD), announced today that it will participate in the 2022 Medicare Part D Senior Savings Model, which is intended to improve the affordability of insulin for Medicare beneficiaries by capping the co-pay per 30-day supply at $35. MannKind will offer all dosage strengths of Afrezza® (insulin human) Inhalation Powder, an ultra rapid-acting inhaled insulin indicated to improve glycemic control in adults with diabetes.

According to the Centers for Medicare & Medicaid Services (CMS), a third of Medicare beneficiaries have diabetes, and over 3.3 million beneficiaries use one or more dosage forms of insulin. For many, the cost of insulin can become a barrier to accessing appropriate medical treatment for diabetes management. The Medicare Part D Senior Savings Model, which launched earlier this year, provides seniors greater, and more affordable, access to the treatment options they need.

“MannKind is pleased to participate in the 2022 Medicare Part D Senior Savings Model and we are excited to partner with Part D plans to ensure their members have affordable access to the only inhaled insulin therapy,” said Michael Castagna, Chief Executive Officer of MannKind. “There are gaps in our current healthcare system when it comes to access and affordability, and we believe the Model is an important step toward addressing these issues and a potential improvement in the quality of care for seniors living with diabetes.”

MannKind’s participation in the Model will commence in 2022 and will join other initiatives that MannKind has introduced in recent years to help patients afford their insulin.  Most recently, MannKind launched AfrezzaAssist^SM, which helps facilitate patient access to affordability programs. These programs include a co-pay assistance program for patients with commercial insurance, which lowers copays to as little as $15 (see https://afrezza.com/savings-program/ for more details), as well as a direct purchase cash program that provides a more affordable option for uninsured patients (see https://www.insulinsavings.com/ for more details).  To learn more about options to help reduce out of pocket costs, patients and healthcare providers can speak with a support specialist at AfrezzaAssist^SM by calling (toll free) 1-844-323-7399 Monday through Friday between 8:00 am and 8:00 pm ET.

About MannKind Corporation

MannKind Corporation (Nasdaq: MNKD) focuses on the development and commercialization of inhaled therapeutic products for patients with endocrine and orphan lung diseases. MannKind is currently commercializing Afrezza® (insulin human) Inhalation Powder, the Company’s first FDA-approved product and the only inhaled ultra rapid-acting mealtime insulin in the United States, where it is available by prescription from pharmacies nationwide. Afrezza is also available by prescription in Brazil where it is commercialized by the Company’s partner Biomm SA.  MannKind is headquartered in Westlake Village, California, and has a state-of-the art manufacturing facility in Danbury, Connecticut. The Company also employs field sales and medical representatives across the U.S. For further information, visit www.mannkindcorp.com.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding the anticipated terms of the proposed offering and MannKind’s expected use of proceeds from the proposed offering. Words such as “believes”, “anticipates”, “plans”, “expects”, “intend”, “will”, “goal”, “potential” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon MannKind’s current expectations. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, the utilization of the Medicare Part D Senior Savings Model by beneficiaries, and other risks detailed in MannKind’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2020 and subsequent periodic reports on Form 10-Q and current reports on Form 8-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and MannKind undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.

Company Contact:
818-661-5000
ir@mannkindcorp.com