HIGHOutside partySupplier
Amphastar (sole insulin supplier for Afrezza)
“10-K Item 1: 'Currently, the only source of insulin that we have qualified for Afrezza is manufactured by Amphastar France Pharmaceuticals S.A.S. (“Amphastar”).'”
MNKD · Concentration risk · 10-K extracted
MannKind (MNKD) concentration risks
Updated
The most significant concentration MannKind discloses is Amphastar (sole insulin supplier for Afrezza), classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: MannKind’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH1
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partyCounterparty
United Therapeutics (Tyvaso DPI commercialization)
“10-K Item 1A: 'A significant portion of our revenue is derived from royalties and collaboration and services revenue associated with United Therapeutics’ commercialization of Tyvaso DPI.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06MannKind carries two distinct dependency-type concentrations, one on the supply side and one on the revenue side. On supply, the company currently has only one qualified source of insulin for Afrezza: Amphastar France Pharmaceuticals, a high-size dependency exposure — any disruption at this single supplier would directly threaten MannKind's ability to manufacture its lead inhaled-insulin product, with no disclosed alternative source. On the revenue side, a significant portion of MannKind's revenue comes from royalties and collaboration and services revenue tied to United Therapeutics' commercialization of Tyvaso DPI, a moderate-size dependency on a single commercial partner's execution. Both exposures are idiosyncratic rather than macro-cyclical — they hinge on the specific performance and reliability of two named counterparties rather than on broader market conditions. The Amphastar supply relationship is the more acute of the two given its high disclosed size and the lack of a qualified backup, making it the single point of failure most likely to move the investment thesis if disrupted; the United Therapeutics dependency is a real but comparatively smaller revenue-concentration risk layered on top.
For the engine’s reasoning on MNKD’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Biotechnology
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ACAD | ACADIA Pharmaceuticals Inc. | 2 | 0 | 0 | 2 |
| ABUS | Arbutus Biopharma Corporation | 1 | 1 | 0 | 2 |
| MNKD● | MannKind Corporation | 1 | 1 | 0 | 2 |
| ABSI | Absci Corporation | 1 | 0 | 0 | 1 |
| ABCL | AbCellera Biologics Inc. | 0 | 0 | 0 | 0 |
| ACHV | Achieve Life Sciences, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.