Date: 2011-10-18
Type of information:
Compound: Coreg CR® microparticles
Company: Flamel Technologies (France) GSK (UK)
Therapeutic area:
Type agreement: supply
Action mechanism:
Disease:
Details: Flamel Technologies has entered into a multi-year supply agreement with GSK for the production of Coreg CR® microparticles. Flamel Technologies is the sole supplier of Coreg CR® microparticles for GSK. Under the agreement, Flamel will receive guaranteed minimum payments to supply Coreg CR® microparticles over a period of several years. The agreement defines the manufacturing relationship between the two companies following the expiration of the previous supply agreement on December 31, 2010.
Financial terms: Pursuant to the agreement, Flamel received a payment of € 1.3million during the third quarter and anticipates a further € 1.3 million payment to be paid in the next ten days, as well as the higher margin on all product produced by Flamel since January 1, 2011.
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