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Flamel Technologies's CEO Discusses Q3 2011 Results - Earnings Call Transcript

Flamel Technologies S.A ( FLML)

Q3 2011 Earnings Call

November 3, 2011 08:30 am ET

Executives

Stephen Willard - CEO, CFO and General Counsel

Siân Crouzet - Principal Financial Officer

Analysts

Matt Kaplan - Ladenburg Thalmann

Peter Butler - Glen Hill Investment Research

Michael Schechter - Mentor Partners

Presentation

Operator

Good morning, ladies and gentlemen, and welcome to Flamel Technologies announces third quarter 2011 results conference call. After prepared remarks, we will be opening the call to a Q&A period. (Operator Instructions) As a reminder, this call is being recorded. And it is now my pleasure to turn the call over to Mr. Stephen Willard, CEO. Please go ahead Mr. Willard.

Stephen Willard

Thank you very much and welcome to Flamel Technologies third quarter 2011 financial results conference call. We are pleased with the progress we made during this past quarter with both our existing partnerships and on the new business development fund. A major element of our third quarter profitability was the new supply agreement with GlaxoSmithKline for Coreg CR.

The previous supply agreement as many of you know expired at the end of last year. GSK and Flamel have been engaged in extensive negotiations for the new supply agreement in the period since then. You will recall that last quarter I informed our investors that I expected that we would bring this matter to a successful conclusion before the third quarter call and I am pleased that we were able to fulfill this goal.

I will discuss the new supply agreement following Siân’s presentation of our financial results. We’ve also enjoyed continued progress in the signature of new agreements for our core technologies. Since our last conference call, we have completed two new Medusa feasibility agreements. One, for a controlled release ocular project and a second which is for the delivery of metabolic peptides.

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