FLML’s price has taken a nose-dive recently. There are some valid reasons, though.

Their only profit generating drug is Coreg CR, a heart failure compound marketed by GlaxoSmithKline. Unfortunately for Flamel, Glaxo has been in some serious trouble over its Avandia medication, causing them to divert salespeople who should have been selling Coreg CR to do damage control over the whole Avandia mess.

According to Glaxo, they’ll be actively promoting Coreg soon, but the moment of opportunity has just about passed– Flamel’s Coreg patent will expire within a couple of months, and then we’ll see generics flooding the market. Still, with such a dramatic drop in stock price, I can’t help but think the market over reacted. This is bad, but Flamel also has other products in the pike.

08/24/2007 Bought 200 FLML @ 9.1

Update: The Fool has some news on this.

Legal Disclaimer: All of the information in this article is accurate to the best of my knowledge. However, I make no guarantee about the accuracy of anything written above. I’m not responsible for any mis-typings, or any other errors in the information. If you purchase any stock solely because I did, you do so at your own risk.

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