MannKind Acquires scPharmaceuticals, Boosting Revenue Growth and Cardiometabolic Leadership

MannKind Corporation is acquiring scPharmaceuticals in a deal valued at up to $360 million, with an upfront payment of $5.35 per share and a contingent value right worth up to $1.00 per share. The acquisition includes FDA-approved treatment FUROSCIX, which achieved net sales of $27.8 million in H1 2025, a 96% year-over-year growth. MannKind expects to close the deal in Q4 2025 and project an annualized revenue run rate exceeding $370 million.

MannKind Corporation (Nasdaq: MNKD) has announced the acquisition of scPharmaceuticals Inc. (Nasdaq: SCPH) in a deal valued at up to $360 million. The acquisition, which includes scPharmaceuticals' FDA-approved treatment FUROSCIX, is expected to close in the fourth quarter of 2025 [1].

The upfront payment for scPharmaceuticals' shares is $5.35 per share, with an additional contingent value right (CVR) worth up to $1.00 per share, contingent upon achieving specific regulatory and net sales milestones. This represents a 36% premium to scPharmaceuticals' 90-day volume-weighted average price (VWAP) and a total consideration of up to $6.35 per share, equating to a 31% premium to the company's closing price on August 22, 2025 [1].

FUROSCIX, an on-body infuser delivering furosemide, is designed to treat fluid overload in adult patients with chronic heart failure (CHF) and chronic kidney disease (CKD). The estimated total addressable market opportunity for FUROSCIX in the U.S. alone exceeds $10 billion. In the first half of 2025, FUROSCIX achieved net sales of $27.8 million, representing a 96% year-over-year growth [1].

The acquisition is expected to strengthen MannKind's revenue base and accelerate its growth. The combined company is projected to have an annualized run rate exceeding $370 million based on Q2 2025 results. The FUROSCIX ReadyFlow Autoinjector is on track for a Q3 2025 supplemental New Drug Application (sNDA) submission, which could reduce treatment time from five hours to less than 10 seconds [1].

MannKind expects to leverage scPharmaceuticals' established commercial and medical capabilities to expand its market reach in the U.S. and globally. The acquisition is part of MannKind's strategic expansion into cardiorenal medicine, establishing its cardiometabolic business alongside its orphan lung division [1].

MannKind and scPharmaceuticals share complementary business models and cultures, united by a commitment to delivering convenient, patient-centric therapies for significant unmet medical needs. The acquisition is expected to unlock meaningful growth opportunities for both companies [1].

References:
[1] https://ir.scpharmaceuticals.com/news-releases/news-release-details/mannkind-acquire-scpharmaceuticals-accelerating-revenue-growth