MannKind Corporation has announced the death of founder and Chairman Emeritus Alfred Mann at age 90, one week after he stepped down as Chairman of the Board. Mann served as CEO from November 2003 until January 2015 and as Chairman of the Board of MannKind from 2001 until last week. According to the company, Mann’s death will have no effect on business activities or the company’s loan agreement with The Mann Group.
A MannKind statement said, “For nearly six decades, Alfred Mann was a revolutionary voice and thinker in aerospace, medical technology and biopharmaceuticals, and has led development of many products to fill unmet and poorly met medical needs. Our thoughts and condolences go out to Al’s wife, Claude, his children, and loved ones.”
CEO Matthew Pfeffer said, “Al has been a wonderful inspiration, not only to me, but to all the employees of MannKind. His kindness, generosity, and business acumen have influenced all of us with whom he has done business and charitable work over the years. He will be terribly missed by many, including the countless patients around the world with diabetes and other serious illnesses, whose lives he improved. I am thankful to have had a close relationship with Al, and will reflect on his counsel and guidance in the years to come. Our resolve is now stronger than ever to continue Al’s legacy of medical innovation, as a tribute to this remarkable man, who did so much to help mankind.”
Chairman of the Board Kent Kresa added, “Al’s contribution to the diabetes field is unparalleled, and he truly represents an iconic influence in the philanthropic and business arena for our generation. I’m honored to have worked for so many years with Al, and am proud to have called him my friend.”
In a separate press release, the company said that it will be unable to file its annual report for 2015 by the February 29, 2016 deadline due to issues related to its reacquisition of Afrezza inhaled insulin from Sanofi: “The Company is experiencing delays in completing its analysis of accounting issues resulting from the previously announced termination of the Sanofi License Agreement, and expects that additional time will be needed to complete a detailed review of the impairment of assets as a consequence of the termination.”
Read the MannKind press release on the death of Alfred Mann.
Read the MannKind press release on the annual report delay.
