Flamel Technologies, Inc

Flamel Technologies Welcomes Nationwide Availability of COREG CR™

Lyon, France, March 23, 2007 Flamel Technologies (NASDAQ:FLML) is pleased that GlaxoSmithKline yesterday announced the U.S. nationwide availability of COREG CR™ (carvedilol phosphate) extended release capsules for use in treating three cardiovascular conditions:

High blood pressure, also known as hypertension;
A heart attack that reduced how well the heart pumps (known medically as post-myocardial infarction left ventricular dysfunction); and
Mild to severe heart failure.

COREG CR™ microparticles are produced by Flamel Technologies at its production facility in Pessac, France, using the company's MICROPUMP^® technology platform.

Stephen H. Willard, Flamel's chief executive officer, stated "We are pleased that COREG CR™ will now be available to patients in the U.S. for the treatment of these three serious conditions. COREG CR™ is the first marketed product incorporating Flamel's MICROPUMP^® technology. The success of the COREG CR™ program has generated considerable interest in our MICROPUMP^® technology as well as in our MEDUSA^® technology platform for the delivery of proteins and peptides. Interest in both technologies has never been higher."

About Flamel Technologies

Flamel Technologies, S.A. is a biopharmaceutical company principally engaged in the development of two unique polymer-based delivery technologies for medical applications. MICROPUMP^® is a controlled release and taste-masking technology for the oral administration of small molecule drugs; it is the intellectual platform licensed by GlaxoSmithKline for the development of COREG CR™. Flamel's MEDUSA^® technology is designed to deliver controlled-release formulations of therapeutic proteins.

This document contains a number of matters, particularly as related to financial projections and the status of various research projects and technology platforms, that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The presentation reflects the current view of management with respect to future events and is subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. These risks include risks that products in the development stage may not achieve scientific objectives or milestones or meet stringent regulatory requirements, uncertainties regarding market acceptance of products in development, the impact of competitive products and pricing, and the risks associated with Flamel's reliance on outside parties and key strategic alliances. These and other risks are described more fully in Flamel's Annual Report on the Securities and Exchange Commission Form 20-F for the year ended December 31, 2005.