By
According to the American Diabetes Association, over 25 million people in the US alone have diabetes and the numbers keep on growing. Although insulin injections have come a long way, poking yourself with a needle in public still draws unwanted attention. MannKind Corporation (MNKD) is on the cusp of releasing an inhalable insulin treatment, Afrezza, that promises to revolutionize the way people treat this disease.
The Exubera Menace
Back in mid-2006, Pfizer (PFE) introduced an inhalable insulin treatment system created by Nektar Therapeutics (NKTR). Put mildly, it was a disaster. Just over a year after introducing the drug, Pfizer pulled the plug after losing about $2.8 billion on the flop.
The Exubera debacle still haunts MannKind, scaring away potential investors. What the market as a whole hasn’t considered is that although both the treatments involve an inhalable form or insulin, the similarities stop there.
Pfizer tried to market