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Biotech / Medical : ARADIGM CORP. ARDM

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To: Tadsamillionaire who wrote (173)	8/28/2003 12:09:56 PM
From: Numberspro	Read Replies (1) of 255

It seems that Bristol Myers and Flamel are also addressing the issue. See FLML. Thanks for the info. France's Flamel Technologies (FLML:Nasdaq - commentary - research) was bid up sharply in premarket trading after Bristol-Myers (BMY:NYSE - commentary - research) anointed a diabetes treatment it's developing. The companies entered a licensing and commercialization agreement covering Flamel's Basulin, a controlled-release form of insulin that is about to enter phase II clinical trials. The agreement calls for Bristol-Myers to assume the cost of future development and manufacturing of the drug, in return for exclusive worldwide rights to it. Bristol-Myers will pay Flamel $20 million now and $145 million when certain milestones are reached. It will also pay "double-digit royalties" to Flamel when and if the treatment hits the market. Flamel closed Wednesday at $26.95 on the Nasdaq. thestreet.com The pact needs antitrust approval.

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