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Spin-Off Furiex Pharmaceuticals Gets FDA Approval For Diabetes Drug -- Stock Surges 49% Today

Furiex Pharmaceuticals - a spin-off company - sees its stock surge 49% today

01/28/2013

Furiex Pharmaceuticals (ticker: FURX) received FDA approval for its new diabetes treatment. The company will receive a $25 million milestone payment from Takeda, a Japanese company to which it has licensed the treatment. FURX will also receive royalties on sales in the U.S. and Japan. Shares of FURX are up 49.7% this morning.

FURX, which has seen its stock double since becoming one of our Speculative Spin-Offs, was spun off from PPD, Inc. in June, 2010.

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