Judge Dismisses 2007 Class Action Case Against Flamel Technologies

Judge Dismisses 2007 Class Action Case Against Flamel Technologies 
LYON, FRANCE -- (Marketwire) -- 03/22/13 --  Flamel Technologies
(NASDAQ: FLML) today announced that Judge Robert Sweet of the United
States District Court for the Southern District of New York issued a
summary judgment on March 8, 2013 dismissing a class action suit
against the Company, and its former CEO. The initial class action was
filed in 2007 and, during the six year period, had two different
plaintiffs. The case, Billhofer v. Flamel Technologies, et al.,
alleged claims arising under the Securities Exchange Act of 1934
based on certain public statements by the Company concerning, among
other things, Coreg CR. The Company previously stated that it
intended to vigorously defend itself in the action.  
In dismissing the case, Judge Sweet's opinion states that "as there
is no genuine issue of fact and no reasonable jury could find in the
lead plaintiff's favor on his claim, the motion for summary judgment
is granted." 
About Flamel Technologies. Flamel Technologies SA's (NASDAQ: FLML)
business model is to blend high-value internally developed products
with its leading drug delivery capabilities. The Company has a
proprietary pipeline of niche specialty pharmaceutical products,
while its drug delivery platforms 
are focused on the goal of
developing safer, more efficacious formulations of drugs to address
unmet medical needs. Its partnered pipeline includes biological and
chemical drugs formulated with its Medusa(R) and Micropump(R) (and
its applications to the development of liquid formulations, i.e.
LiquiTime(TM) and of abuse-deterrent formulations Trigger Lock(TM))
proprietary drug delivery platforms. Several Medusa-based products
have been successfully tested in clinical trials. The Company has
developed products and manufactures Micropump-based microparticles
under FDA-audited GMP guidelines. Flamel Technologies has
collaborations with a number of leading pharmaceutical and
biotechnology companies, including GlaxoSmithKline (Coreg CR(R),
carvedilol phosphate). The Company is headquartered in Lyon, France
and has operations in St. Louis, Missouri, USA, and manufacturing
facilities in Pessac, France. Additional information may be found at
www.flamel.com. 
This release contains "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995, including
certain plans, expectations, goals and projections regarding
financial results, product developments and technology platforms. All
statements that are not clearly historical in nature are
forward-looking, and the words "anticipate," "assume," "believe,"
"expect," "estimate," "plan," "will," "may," and similar expressions
are generally intended to identify forward-looking statements. All
forward-looking statements involve risks, uncertainties and
contingencies, many of which are beyond our control that could cause
actual results to differ materially from those contemplated in such
forward-looking statements. These risks include risks that the
acquisition of Eclat Pharmaceuticals may not be successfully
integrated or that certain payment acceleration events may be
triggered; the new hospital-based product under FDA review may not be
approved or such approval may be delayed; the reacquisition of the
exclusive rights to develop and commercialize IFN-β XL worldwide
and identification of an alternative strategic partner for the
program may not be successful; the identified opportunities will not
result in shorter-term, high value results; clinical trial results
may not be positive or our partners may decide not to move forward;
management transitions may be disruptive or not succeed as planned;
products in the development stage may not achieve scientific
objectives or milestones or meet stringent regulatory requirements;
products in development may not achieve market acceptance;
competitive products and pricing may hinder our commercial
opportunities; we may not be successful in identifying and pursuing
opportunities to develop our own product portfolio using Flamel's
technology; and the risks associated with our reliance on outside
parties and key strategic alliances. These and other risks are
described more fully in Flamel's Annual Report on Form 20-F for the
year ended December 31, 2011 that has been filed with the Securities
and Exchange Commission (SEC). All forward-looking statements
included in this release are based on information available at the
time of the release. We undertake no obligation to update or alter
our forward-looking statements as a result of new information, future
events or otherwise. 
Investor Contact:
Bob Yedid 
ICR Inc.
(646) 277-1250
bob.yedid@icrinc.com 
 
 
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