Notice of meeting Combined Shareholders' Meeting Friday

Shareholders' Meeting

Friday June 26, 2015 At 11.00

Flamel Technologies S.A. I Flamel.com

We are pleased to invite you to attend

the Combined Ordinary and Extraordinary General Meeting of Flamel Technologies, SA that will be held on Friday, 26th June 2015

at 11:00 am (Paris time), at Company headquarters, located at 33, avenue du Dr Georges L vy, 69693 V nissieux, France,

in order to deliberate on the following agenda:

Within The Competence Of The

Ordinary General Shareholders' Meeting

Within The Competence Of The

Extraordinary General Shareholders' Meeting

The present Notice of Meeting includes:

A voting form, to be used to vote by post

Information about how to participate in

the General Meeting is provided hereafter.

The required quorum for extraordinary resolutions

is one fourth (25%) of the total outstanding shares with voting rights, upon first call of the shareholders' meeting. If such quorum

is not met, the Board of Directors will give a second notice of Shareholders' Meeting. At this second Meeting, which shall

take place within two months after the first meeting, the required quorum is one fifth (20%) of the total outstanding shares with

IF THE QUORUM FOR THE ORDINARY MEETING

IS NOT MET ON JUNE 26, 2015, SHAREHOLDERS WILL BE INVITED TO VOTE AT A MEETING WHICH WILL BE HELD ON JULY 3, 2015 ON THE SAME AGENDA,

AS DESCRIBED IN THIS NOTICE.

TO PARTICIPATE IN THE MEETING

All shareholders and bearers of voting

right certificates may take part in the General Meeting by attending the Meeting in person, appointing a proxy of their choosing

to represent them or voting by post.

Nevertheless, if you expect to be present

at the meeting, please note that shareholders will be admitted to the General Meeting whatever the number of shares they hold provided

they are owner of registered shares and their shares have been registered in a share account held by the Company at least one day

prior to the date of the meeting.

will need to provide evidence of share ownership

Holders of registered shares need only

register their shares in a registered share account, as specified above, to be able to take part in the General Meeting. Caceis

Corporate Trust will therefore issue proof that they are shareholders.

American Depositary Shares (ADS)

Holders of ADS shall take part in the General

Meeting by voting by post provided that their shares have been registered in a bearer share account held by an accredited banking

or financial intermediary. The accredited banking or financial intermediary that holds the share account will therefore be responsible

for issuing proof that they are shareholders and producing a certificate of share ownership, as specified above, to the General

Meeting coordinator (centralisateur), i.e. The Bank of New-York - BNY Mellon.

The record date for ADS Owners entitled

to vote at the Combined General Meeting is May 19, 2015.

If you wish to appear and vote at any meeting

of the holders of Shares, you must surrender your receipts and become registered on the registry maintained by or on behalf of

Flamel Technologies S.A. at least (i) one (1) Paris Business Day prior to the date of the relevant shareholders' meeting to appear

and vote at such meeting.

are requested to cast a postal vote

Your postal voting form or proxy form

will be provided by your broker. You must complete and sign the voting form and return it to the General Meeting coordinator

via the banking or financial intermediary that holds your share account, along with the certificate of share ownership referred

Voting forms will only be taken into

consideration if received by the General Meeting coordinator by June 18, 2015 at the latest.

Any questions related to voting by ADS

holders should be addressed directly to your broker.

Management Report By The

Board Of Directors To The Shareholders' Meeting To Be Held On June 26, 2015

The auditor reports, the annual financial statements, as well as all documents relating thereto have been made

available to you at the Company's registered office according to legal and regulatory requirements.

The annual financial statements presented

to you have been established in accordance with French accounting laws, principles and methods.

Please note that the accounting methods

used to prepare these annual financial statements are the same as the ones used for previous financial years.

Flamel Technologies SA is a specialty pharmaceutical

company utilizing core competencies in drug delivery and formulation to develop safer and more efficacious pharmaceutical products

to address unmet medical needs and/or reduce overall healthcare costs. Flamel has a balanced business model consisting of a successful

previously Unapproved Marketed Drugs ("UMDs") business with two marketed products in the USA, Bloxiverz

and Vazculep , and a branded business, focusing on the development of products utilizing Flamel's proprietary drug

delivery platforms. The branded products are based on proprietary drug delivery platforms and target high-value solid oral and

alternative dosage forms using 505(b)(2) and Biosimilar pathways where the Company can develop strong intellectual property positions

and deliver meaningful patient benefits. Flamel's business model allows the Company to select, develop, seek approval for,

and commercialize niche branded and generic products, initially targeted for the U.S. market. The Company is able to self-fund

the development of most product development opportunities.

Flamel is headquartered in Lyon, France

and has operations in St. Louis, Missouri, USA, and Dublin, Ireland.

As of December 31, 2014, Flamel had 109

full-time employees based in France and an average of 210 full-time employees over 2014. The divestiture of the Pessac Facility

resulted in the transfer of 107 employees on December 1, 2014 to Recipharm Pessac SAS.

Both products are commercialized in the

USA by Flamel's subsidiary clat:

Bloxiverz (neostigmine

methylsulfate injection), Flamel's first NDA approval. Bloxiverz's NDA was filed in August 2012 and approved by

the FDA on May 2013. The launch of Bloxiverz (10mL multiple dose vial at 0.5 and 1.0 mg/mL strengths) commenced in July

2013. Bloxiverz is a drug used intravenously in the operating room for the reversal of the effects of non-depolarizing neuromuscular

blocking agents after surgery. Bloxiverz is the first and only FDA-approved version of neostigmine methylsulfate, even though

other versions of neostigmine have been on the market as unapproved, grandfathered products under the Food, Drug and Cosmetic Act

of 1938. Compared with the remaining unapproved marketed products, Bloxiverz has proven and approved safety, efficacy and

quality. Today, neostigmine is the most common agent used for the reversal of the effects of other agents used for neuromuscular

blocks. There are approximately 5 million vials sold annually in the U.S. The volume of sales of Bloxiverz is dependent

upon, as per FDA guidance the FDA removing all unapproved products from the market in a timely manner (typically one year post

approval). All manufacturers of unapproved versions of neostigmine methylsulfate have been notified by the FDA to cease manufacturing

of the unapproved product as of July 30, 2014. On January 8, 2015, the FDA approved Fresenius Kabi USA ("Fresenius")'s

NDA for neostigmine methylsulfate (for both 0.5 mg/1mL and 1 mg/1mL strengths). On January 15, 2015, Flamel's increased the

WAC for Bloxiverz to $98.75 (from the previous WAC of $35.80) per vial for both the 0.5 and 1.0 mg/mL strengths.

In the future, the volume of sales of Bloxiverz is dependent upon the competitive landscape between Eclat, APP,

and any subsequent ANDA approvals that may occur.

Vazculep (phenylephrine hydrochloride

injection), Flamel's second NDA approval. On June 28, 2013, the Company filed an NDA for a second product developed by

clat and later identified as Vazculep (phenylephrine hydrochloride injection). The product was approved by the FDA