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Flamel Technologies gets $1 million milestone payment
By Elaine Rigoli
Tampa, Fla., May 19 - Flamel Technologies has received a $1 million milestone from its collaborator, GlaxoSmithKline, a payment that was triggered by the successful completion of activities relating to the manufacturing process for Coreg CR microparticles.
Flamel and GlaxoSmithKline completed a supply agreement in December 2004 under which Flamel is responsible for manufacturing Coreg CR microparticles.
Flamel is a drug-discovery company based in Paris.
GlaxoSmithKline is a global pharmaceutical company based in London.
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