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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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