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MannKind Corp. Message Board

  • kevinmik kevinmik Aug 15, 2013 8:43 AM Flag

    Investment Banks Are Retained To Sell Company's

    Actually the fact that Mannkind has now retained the investment bank Greenhill is a very positive sign the company is now heading towards the final stage of what I expect has been Al's plan all along which is to sell the company. Mannkind has been talking about a partnership deal for over 4 years and I find it hard to believe they are not capable on their own to strike a partnership deal. Instead I believe Mannkind has been approached with buyout offers coming from multiple company's and they may even have received an unsolicited offers to buy the company. Now that positive Phase 3 results are out, I expect Mannkind is formalizing its buyout process and have hired Greenhill to manage it. I also believe the Deerfield deal was put in place to help negotiate a good deal and give Mannkind time to find a partner. I saw the same thing happen with Amylin. After a 10 year partnership with Eli Lilly was dissolved in 2011, Amylin kept insisting they were going to search for another global partner which never materialized and in early 2012 immediately following Bydureon's approval by the FDA in Jan. 2012, word leaked out that Amylin received an unsolicited offer to buy the company from Bristol Myers for $22, which Amylin rejected and that lead to Amylin hiring the investment banking firms Goldman Sacs and Credit Suisse to begin a formal process to sell the company. Amylin was eventually sold to Bristol and Astra for $31. Prior to Bristol Myeres unsolicited offer of $22 to buy the company, Amylin stock was trading in the low $teens and it immediately following the leaked news the stock shot up to $22 and that became the base price the buyout was initiated at. I am betting Greenhill was retained to sell Mannkind and hopefully more details will come out shortly.

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    • Correction the following sentence should have ended with find a buyer not a partner... "I also believe the Deerfield deal was put in place to help negotiate a good deal and give Mannkind time to find a partner".

      • 1 Reply to kevinmik
      • How about Takeda? They have expertise in the Type II market Actos patent has expired. They have no conflict of interest with existing basal insulin products?

        They certainly would fit the mold put forward by Al yesterday of an international partner, with the possibility of joint marketing in the U.S. Might be a good fit?

        Speculation to say the least..... just a thought.

 
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