Chris,

I wouldn't plan on Sanofi.Here's what Al said about them a few years ago.

Q>: Okay. I think it's on now. I just want to come back to you earlier comments on partnering. You said you have to ...
<A>: Partnering?
<Q>: [indiscernible]. I just wanted to get a sense as to - you are not going to name who these partners are. But I want to get a sense of the type of companies that are having discussion with you. Are we talking about companies that are looking to get into the insulin space or do they include discussions with companies that are essentially incumbents in the insulin space?
<A>: Well, we are not really very interested in companies who are in the insulin business. The reason of course is because why would they want to cannibalize some of their key products. I mean Novalog is the most important product for Novartis for example. So they wouldn't be interested in promoting our products. So they are not really good candidates. But Sanofi-Aventis could use a rapid acting insulin, but on the other hand we think that AFREZZA will compete effectively against Lantus in earlier stage type-II diabetes. So we have some reservations about those, but we feel that we should deal with someone who is in the diabetes market or at least in the metabolic and endocrine markets so that they have sales forces that are dealing with the physicians in the same areas as we -- in which we're interested. Yes, sir?

http://afresa.blogspot.com/2010/09/transcript-of-morgan-stanley-global.html