MannKind restructures Amphastar supply deal: lowers annual commitments, adds capacity fees

MANNKIND CORP

Prior total purchase commitments of €58.7M for 2024-27 replaced; new commitments for 2024 = €2.9M, 2025 = €1.5M.
Capacity fee introduced: €2M/year in Year 1 of new supply, decreasing to €500k/year in Years 6-9.
Term extended to later of Dec 31, 2035 or completion of purchase commitments.
Amendment accommodates change in source of inclusion bodies (insulin intermediate) to Amphastar-manufactured.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

MANNKIND CORP amended Seventh Amendment to Supply Agreement with Amphastar Pharmaceuticals, Inc. valued at €2.9 million annual purchase commitment for 2024; amended purchase commitments through 2035 (effective 2023-12-22).

Action: amendment
Agreement: supply
Counterparty: Amphastar Pharmaceuticals, Inc.
Value: €2.9 million annual purchase commitment for 2024; amended purchase commitments through 2035
Effective: 2023-12-22

Exact text from the filing

On December 22, 2023, MannKind Corporation (the “Company”) entered into a Seventh Amendment to Supply Agreement (the “Seventh Amendment”) with Amphastar Pharmaceuticals, Inc. pursuant to which the parties amended the Supply Agreement, dated July 31, 2014, as amended (the “Supply Agreement”).

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Source: SEC EDGAR

accession 0001193125-23-303995

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