MannKind to Acquire scPharmaceuticals in Up to $360M Deal

MannKind Corporation has entered into a definitive agreement to acquire scPharmaceuticals for up to $360 million, consisting of $5.35 per share in cash at closing and an additional non-tradable CVR (Contingent Value Right) of up to $1 per share based on future milestones1235.

The acquisition represents a significant premium, up to 31% over scPharmaceuticals' pre-announcement share price, and is expected to close in Q4 2025 pending regulatory approval2.

MannKind will also retire scPharmaceuticals’ debt and revenue-sharing obligations, totaling about $81 million, if the deal closes by September 30, 20252.

scPharmaceuticals markets FUROSCIX, an FDA-approved wearable infuser for furosemide used to treat fluid overload in chronic heart failure and chronic kidney disease patients134.

scPharmaceuticals reported a 96% year-over-year sales growth for the six months ending June 30, 2025, with revenues of $27.8 million14.

The FUROSCIX ReadyFlow Autoinjector, which may reduce patient treatment time from five hours to under ten seconds, is expected to be submitted for supplemental FDA approval (sNDA) in Q3 20251345.

MannKind’s acquisition of scPharmaceuticals marks its strategic expansion into the cardiorenal and cardiometabolic medicine space134.

MannKind has arranged $175 million in additional financing from Blackstone to help fund the acquisition5.

Sources:

1. https://www.drugdeliverybusiness.com/mannkind-to-acquire-scpharmaceuticals-drug-delivery/

2. https://www.thepharmaletter.com/pharmaceutical/mannkind-to-acquire-scpharmaceuticals

3. https://www.insidearbitrage.com/2025/08/mannkind-to-acquire-scpharmaceuticals-in-a-360-million-deal/

4. https://drug-dev.com/mannkind-to-acquire-scpharmaceuticals-accelerating-revenue-growth-emerging-as-a-patient-centric-leader-in-cardiometabolic-lung-diseases/

5. https://www.globenewswire.com/news-release/2025/08/25/3138371/0/en/MannKind-to-Acquire-scPharmaceuticals-Accelerating-Revenue-Growth-and-Emerging-as-a-Patient-Centric-Leader-in-Cardiometabolic-and-Lung-Diseases.html