By Chris Wack
MannKind Corp. announced on Tuesday that it was purchasing the V-Go insulin delivery device from Zealand Pharma A/S for $10 million, with additional milestones based on sales plus the cost of certain inventory.
Certain inventory and employees are also included in the terms of the agreement.
V-Go is a portable, once-a-day insulin delivery device that helps control blood sugar for everyday lifestyles. V-Go wears like a patch and eliminates the need to take multiple shots a day.
MannKind’s acquisition of V-Go is expected to close in May.
Write to Chris Wack at [email protected]