| A Giant Leap for MannKind KLLJ Investments submits: July 20th, 1969: Neil Armstrong steps off the Eagle’s footpad and onto the moon uttering those famous words; “That’s one small step for {a} man, one giant leap for mankind.” I wonder if Al Mann had those words ringing in his ear when deciding on the name ‘MannKind’ for the company he founded and still serves as Chairman and CEO of. MannKind is a standout among a field of biotech companies trying to change the world and bring their first product to market. It is the only company I know of whose founder has invested such a vast fortune on. Entrepreneurs often invest a large portion of their wealth on new companies, but when your wealth is in the Billions, it is rare indeed. To date, MannKind has invested $1.6B developing their Technosphere delivery platform, the first drug to use that platform, AFREZZA, and their cancer immunotherapy programs. Al Mann has stated in the past that he doesn’t invest his money on anything he can’t expect to get at least a 10x return on. In Al’s case, that is approximately $800M including a line of credit MannKind is using for funding, which would mean Al expects to get at least $8B for his investment. That would value MannKind close to $20B in Al’s eyes. Those are big numbers for a company trading with a market cap of $560M. Al Mann is one of the richest men in America. Why would he bother at the ripe age of 85 to still spend his time championing MannKind and betting his hard earned money backing the company? Could he be senile? I don’t think so. I believe he knows what the market and most of the analyst community doesn’t. That is that MannKind’s Technosphere platform is a ‘game-changer’ and has the potential to be a disruptive technology in pharmacology. Complete Story » seekingalpha.com |
Furiex and PPD Announce Completion of Spin-off (Business Wire) WILMINGTON, N.C., & MORRISVILLE, N.C.----PPD, Inc. and Furiex Pharmaceuticals, Inc. announced today the successful completion of the spin-off of Furiex. As previously announced, PPD received a private letter ruling from the Internal Revenue Service that the dividend of common stock of Furiex to PPD shareholders qualifies as a tax-free distribution for U.S. income tax purposes. us.rd.yahoo.com |
Chairman and Chief Scientist at ERT Recognized as One of 100 Most Inspiring People in the Life Sciences Industry (PR Newswire) ERT , a leading provider of centralized services to global pharmaceutical, biotechnology and medical device companies, announces that Joel Morganroth, MD, Chairman and Chief Scientist, has been acknowledged by PharmaVOICE magazine as one of the 100 most inspiring people in the life sciences industry. Â Dr. us.rd.yahoo.com |
China Nuokang Bio-Pharmaceutical Inc. Announces Date of Annual General Meeting [GlobeNewswire] - BEIJING -- China Nuokang Bio-Pharmaceutical Inc. , a leading China-based biopharmaceutical company focused on the research, development, manufacture, marketing and sales of hospital-based medical products, today announced that its annual general meeting will be held at 9 am Beijing Time on September 30, 2010 at No. 18-1 East Nanping Road, Hunnan National New & High-tech Development Zone, Shenyang, Liaoning Province, China P.R. us.rd.yahoo.com |
Lungs Can 'Taste' Bacteria The same taste buds we have on the tongue to detect bitterness also exist on lung muscle so that the airways can "taste" dangerous illness-causing bacteria, according to new research. online.wsj.com |