During the trading session on 28 June,2021 MannKind Corporation (NASDAQ: MNKD) advanced 11.60 percent to $5.31.This hike occurred as a result of recent efforts by Centers for Medicare and Medicaid services (CMS) in accordance with Medicare Administration Contractors (MACs), to implement a policy change to the Local Coverage Determination (LCD) L33822. In order to allow the approval for diabetes patients to select from both Afrezza and Continuous Glucose Monitors (CGM),this law will be effective from July 18th, 2021.
More about MNKD Afrezza inhalable insulin
Mannkind Corporation is focused to develop and commercialize therapeutic drugs for the treatment of diabetes, lung diseases and pulmonary arterial hypertension. MNKD has been in constant efforts to facilitate its patients with diabetes. It is currently commercializing FDA approved, Afrezza inhalation powder. This powder is the only inhalable ultra-rapid-acting insulin available in US. It dissolves rapidly upon inhalation and pass quickly from lungs into the bloodstream, to quickly drop sugar levels to desired level.
Prior to this policy change, Medicare were denying patients to use CGMs and inhaled insulin as an alternative to injected mealtime insulin. MNKD has also requested language change by LCD, to add the word “inhalation as an alternative” in its context. Previously, the criteria defined patients taking insulin either with multiple daily injections or insulin pumps. After the amendment, the text would include, patients that takes insulin with inhalation as an alternative.
The news released by MNKD on Monday, 27 June, 2021 morning proved to be overwhelmingly positive for MNKD stock. With the policy change and the language update, the company’s Afrezza will be covered in combination with CGMs. In an attempt to combine two useful tools together, this will result in increased sales for the company, which is a good attraction for its investors.
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