Another buyout of a successful spin hit the newswire earlier this week when Forest Laboratories (FRX) announced that it would acquire Furiex Pharmaceuticals (FURX) for $95 per share in cash. Furiex was spun out of PPD (which has since been acquired) back in 2010 and had been on a tear after dropping out of the gate. Most recently, the… Read More »
Woke up this morning to see that Furiex Pharmaceuticals (FURX) was up close to 50% (!) in pre-market trading. The company confirmed that its commercial partner, Takeda Pharmaceutical, had received FDA approval for three Type 2 Diabetes therapies. Several of these had already been approved in Japan with Furiex receiving royalties. In addition to unlocking a $25m milestone… Read More »
Came across a note in Barron’s this weekend that Furiex Pharmaceuticals (FURX) CEO Fredric Eshelman upped his stake in the company by 17,359 shares to a total representing ~12.1% ~21.1% of the company. In case you don’t remember, Furiex was spun out around the time of our site’s launch and we noted some bullish followers of the stock.… Read More »