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Flamel Technologies Announces Receipt of Milestone from GlaxoSmithKline
23-May-2006
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Flamel Technologies announced that it has received a $1 million milestone from its collaborator, GlaxoSmithKline. The milestone payment was triggered by successful completion of activities relating to the manufacturing process for Coreg CR(TM) microparticles. Flamel and GSK completed a supply agreement in December, 2004 under which Flamel is responsible for manufacturing Coreg CR(TM) microparticles.