MannKind Corporation has announced the acquisition of scPharmaceuticals, expanding into cardiorenal medicine with FUROSCIX. The acquisition includes an upfront cash payment of $5.35 per share plus a non-tradable CVR worth up to $1.00 per CVR. This move is expected to diversify and accelerate revenue growth, with a focus on treating edema due to chronic heart failure and chronic kidney disease. scPharmaceuticals saw net sales of $27.8 million for the six months ending June 30, 2025, representing a 96% increase year-over-year. The FUROSCIX ReadyFlow Autoinjector is set for a Q3 2025 sNDA submission, potentially unlocking additional market opportunities.
The acquisition will strengthen MannKind’s organization by integrating scPharmaceuticals’ commercial and medical capabilities. The combined company will have a revenue base of over $370 million annually based on Q2 2025 results. MannKind expects double-digit annual growth with potential market expansions for existing products like Afrezza and V-Go. The acquisition aligns with MannKind’s strategy to deliver innovative therapies for cardiometabolic and orphan lung diseases. Additionally, the company is advancing late-stage pipeline products like MNKD-101 and MNKD-201.
The transaction involves an upfront cash payment of $5.35 per share, plus a contingent value right (CVR) of up to $1.00 per share based on specific milestones. The total equity value of the deal is approximately $303 million, with a total deal value of up to $360 million. The acquisition is expected to close in the fourth quarter of 2025, subject to regulatory approvals and customary conditions. Jefferies LLC acted as the financial advisor to MannKind, while Cooley LLP served as legal counsel. Leerink Partners advised scPharmaceuticals, with legal counsel from Latham & Watkins LLP.
MannKind’s acquisition of scPharmaceuticals represents a significant move into the cardiorenal medicine space, diversifying its revenue base and accelerating growth with innovative treatments like FUROSCIX. The deal, valued at up to $360 million, is expected to close in the fourth quarter of 2025 pending regulatory approvals. This strategic acquisition aligns with MannKind’s commitment to delivering patient-centered therapies for cardiometabolic and orphan lung diseases and is supported by strong commercial and medical capabilities from scPharmaceuticals.
Read more at Globe Newswire: MannKind to Acquire scPharmaceuticals, Accelerating Revenue