Flamel Technologies Announces Fourth Quarter and Year-End 2010 Results

Flamel Technologies FLML today announced its financial results for the fourth quarter and year ended December 31, 2010. Fourth Quarter and Recent Highlights: Flamel received €3 million after achieving its first clinical milestone with Merck Serono for the development of an extended-release formulation of interferon beta 1-a. The Company announced receipt of a further €1 million payment following certain technical achievements requested by Merck Serono. Flamel and GSK are in negotiations for a new supply agreement for Coreg CR following the expiration of the old supply agreement on December 31, 2010; Flamel expects that these will be successful.