Forest Labs Buys Furiex Pharma For $1.46B
- ByInternational Business Times
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Furiex Pharmaceuticals, Inc. operates as a drug development company that is involved in compound development and collaboration activities primarily in the United States. It collaborates with pharmaceutical and biotechnology companies to enhance the value of their drug candidates by applying its novel approach to drug development. The company holds rights to royalties and regulatory and sales-based milestone payments for alogliptin, alogliptin combination products, and SYR-472 (trelagliptin) for the treatment of Type-2 diabetes, which are marketed under the Nesina and Liovel names in Japan, as well as under the Nesina, Oseni, and Kazano names in the United States. It also owns rights to royalties and sales-based milestones for Priligy (dapoxetine) for premature ejaculation, which is marketed in approximately 30 countries in Europe, the Asia-Pacific, and Latin America. In addition, the company holds license rights to eluxadoline (MuDelta), a novel, orally active, investigational agent, which is in Phase III development diarrhea-predominant irritable bowel syndrome, and to JNJ-Q2, a novel, fluoroquinolone antibiotic, which is in Phase III development for skin and lung infections. It markets its products through third party collaborators. The company was founded in 1998 and is headquartered in Morrisville, North Carolina. Furiex Pharmaceuticals, Inc. operates as a subsidiary of AbbVie Inc.