Full Press Release Details
Flamel Technologies to Receive $4 Million Milestone
Payment from GlaxoSmithKline
Lyon, France March 20, 2009 Flamel Technologies (NASD: FLML) announced today that it has earned
an additional $4 million milestone from GlaxoSmithKline (GSK) pursuant to its Micropump license
agreement for Coreg CR (carvedilol phosphate extended release capsules). COREG CR was launched by
GSK in 2007 and is approved for use in treating three cardiovascular conditions:
| High blood pressure, also known as hypertension; | |||
| A heart attack that reduced how well the heart pumps (known medically as post-myocardial infarction left ventricular dysfunction); and | |||
| Mild to severe heart failure. |
COREG CR microparticles are produced by Flamel Technologies at its production facility in Pessac,
France, using the company s MICROPUMP technology platform.
These types of payments are an important driver for the financial strength and success of Flamel
Technologies, Stephen H. Willard, Flamel s chief executive officer, stated. In addition to
upfront fees, royalties, and payments for our research and development, these types of milestones
play a significant role in the overall value we derive from licensing our technology. Flamel is
engaged in 18 feasibility study programs with seven of the top twenty pharmaceutical companies in
About Flamel Technologies
Flamel Technologies is a drug delivery company with two intellectual property platforms: Micropump,
for the controlled release of drugs best absorbed in the small intestine; and Medusa, for the
controlled release of proteins, peptides, and other molecules injected subcutaneously. Both of
these platforms offer potential advantages with respect to efficacy and the reduction of
side-effects, in addition to the obvious benefits associated with more convenient dosing regimens.
For detailed company information, including copies of this and other press releases, see Flamel s
web site: www.flamel.com.
Charles Marlio, Director of Strategic Planning and Investor Relations
Tel: (011) (33) 4-7278-3434
Fax: (011) (33) 4-7278-3435
This document contains a number of matters, particularly as related to the status of various
research projects and technology platforms, that constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. The document reflects the current
view of management with respect to future events and
is subject to risks and uncertainties that could cause actual results to differ materially from
those contemplated in such forward-looking statements. These risks include risks that products in
the development stage may not achieve scientific objectives or milestones or meet stringent
regulatory requirements, uncertainties regarding market acceptance of products in development, the
impact of competitive products and pricing, and the risks associated with Flamel s reliance on
outside parties and key strategic alliances. We undertake no obligation to update these
forward-looking statements as a result of new information, future events or otherwise. You should
not place undue reliance on these forward-looking statements. For further information on the
Company, please review Flamel s Annual Report on the Securities and Exchange Commission Form 20-F
for the year ended December 31, 2007.