Canaccord Genuity Starts Furiex Pharmaceuticals (FURX) at Buy, Sees 112% Upside
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Furiex Pharma (FURX) Collaborative Treatment for Diabeties Receives FDA Approval
January 28, 2013 7:17 AM ESTFuriex Pharmaceuticals, Inc. (NASDAQ: FURX) confirmed that Takeda Pharmaceutical Company Limited has received approval from the U.S. Food and Drug Administration of three new type 2 diabetes therapies, NESINA (alogliptin) and the fixed-dose combination therapies, OSENI (alogliptin and pioglitazone) and KAZANO (alogliptin and metformin HCl), for the treatment of type 2 diabetes in adults as adjuncts to diet and exercise.
Under its agreement with Takeda, Furiex is entitled to receive a $25 million milestone payment as a result of this approval, as well as royalties on sales in the United States and potential sales-based milestones.... More
