MannKind Corporation (NASDAQ:MNKD) announced two senior appointments to its commercial organization. Joining the Company are Joseph Saldanha as Vice President of Marketing and Agustin (Tino) Quintero as Vice President of Market Value, Access and Trade. Both will report to Michael Castagna, MannKind’s Chief Commercial Officer.
“I am excited to have Joe and Tino join my team to help us transition into a commercial organization with dedicated capabilities,” said Michael Castagna. “Each brings a wealth of experience in commercialization, diabetes and pharmaceutical product launches, and their skills will be critical as MannKind moves forward with our commercial plans.”
Matthew Pfeffer, Chief Executive Officer of MannKind added, “The expansion of Mike’s organization with these two key roles supports MannKind’s business objectives for 2016 and beyond. Under Joe and Tino’s leadership, MannKind can develop strong relationships with payors that benefit patients, and produce innovative and focused marketing and sales programs that establish MannKind’s market presence with Technosphere®-based products.”
Mr. Saldanha has worked in the diabetes space for over 13 years, in both U.S. and global roles. He has experience marketing oral anti-diabetic medications, insulins (both injectable and inhaled), and medical devices. Mr. Saldanha commercialized Sanofi’s Lantus® in the Intercontinental Region. After returning to the U.S., he was part of the team that commercialized the Lantus SoloSTAR® pen. In addition to heading up Sanofi’s strategy and medical education teams, he was responsible for all hospital business. Mr. Saldanha launched an initiative with Certified Diabetes Educators® to train patients in diabetes and the appropriate use of insulin. Prior to that, Mr. Saldanha served as Director of Business Development for the insulin delivery device business at Johnson and Johnson Diabetes (LifeScan®/Animas®). More recently, he worked in the biosimilars business with Pfizer in New York. Mr. Saldanha holds a Bachelor of Science from Drexel University and a Master of Science from the University of Pennsylvania.
Mr. Quintero has 18 years of experience in bio-pharmaceutical market access as well as a proven record of achieving commercial excellence. He joins MannKind from AbbVie, a global biopharmaceutical company, where he served as National Managed Care Executive. In this role, Mr. Quintero was responsible for negotiating AbbVie’s portfolio of products (including Humira®) while developing contracting and pricing strategies for hepatitis C, multiple sclerosis and oncology product launches. Prior to that, he held integral leadership roles in sales and account management at Vertex Pharmaceuticals, including oversight of the commercial launch of Incivek®, their first commercial product. Earlier, he was part of Gilead Sciences and Sandoz’s leadership teams, responsible for sales, product launches and market access for both commercial and government payers. Mr. Quintero holds a Bachelor of Science in economics from Florida International University. (Original Source)
Shares of MannKind closed yesterday at $1.71, up $0.01 or 0.54%. MNKD has a 1-year high of $7.32 and a 1-year low of $0.64. The stock’s 50-day moving average is $1.54 and its 200-day moving average is $1.79.
On the ratings front, MannKind has been the subject of a number of recent research reports. In a report issued on March 30, Goldman Sachs analyst Jay Olson maintained a Sell rating on MNKD, with a price target of $0.25, which reflects a potential downside of -85.3% from last closing price. Separately, on March 15, JMP’s Jason Butler reiterated a Hold rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jay Olson and Jason Butler have a total average return of 32.9% and 42.3% respectively. Olson has a success rate of 75.0% and is ranked #1102 out of 3807 analysts, while Butler has a success rate of 60.7% and is ranked #93.
Overall, 4 research analysts have rated the stock with a Sell rating, one research analyst has assigned a Hold rating and . When considering if perhaps the stock is under or overvalued, the average price target is $0.25 which is -85.3% under where the stock closed yesterday.
MannKind Corp. is a biopharmaceutical company. It focuses on the discovery, development and commercialization of therapeutic products for diseases, such as diabetes and cancer. MannKind was founded by Alfred E. Mann on February 14, 1991 and is headquartered in Valencia, CA.