Furiex Eluxadoline trial results smell great, shares soar

Furiex Pharmaceuticals' (FURX) Eluxadoline treatment for diarrhea-predominant irritable bowel syndrome (IBS-d) met the goals of two Phase III trials by improving stool consistency and relieving abdominal pain.

Furiex now plans to apply for FDA approval of Eluxadoline by the middle of the year and for EU authorization in early 2015.

IBS-d affects 28M people in the U.S. and major European markets. Furiex founder and chairman Fred Eshelman reckons the drug could bring in annual sales of $750M-$1B.

Eshelman has sparked buyout talk by saying that the company would launch the drug itself "if we don't get offers." However, the firm would have to raise money.

Shares +78%. (PR)

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