Forest Laboratories Inc , which itself is in the process of being acquired, has won U.S. antitrust approval to purchase Furiex Pharmaceuticals Inc , the Federal Trade Commission said on Friday.Forest, in the process of being bought by Actavis Plc , had said on April 28 that it would buy Furiex for up to $1.46 billion, adding a promising treatment for irritable bowel syndrome to its gastrointestinal drugs portfolio.The deal was on a list of approved transactions that the FTC releases several times a week.Forest said it expected Furiex's lead drug, eluxadoline, to be "very complementary" to its own bowel drug, Linzess. Eluxadoline is being developed to treat diarrhea-predominant irritable bowel syndrome and was found to significantly alleviate symptoms of the disease in two large late-stage trials.
Shares of ACT traded higher by 0.11% or $0.24/share to $213.69. In the past year, the shares have traded as low as $118.68 and as high as $230.77. On average, 2518790 shares of ACT exchange hands on a given day and today's volume is recorded at 525647.
Forest Laboratories, Inc. (Forest) develops, manufactures and sells branded forms of ethical drug products, which requires a physician's prescription. Shares of FRX traded higher by 0.16% or $0.155/share to $95.90. In the past year, the shares have traded as low as $39.28 and as high as $100.88. On average, 2606820 shares of FRX exchange hands on a given day and today's volume is recorded at 586361.
Furiex Pharmaceuticals, Inc. is a drug development collaboration company. Shares of FURX traded higher by 0.77% or $0.8/share to $104.48. In the past year, the shares have traded as low as $32.05 and as high as $121.97. On average, 316803 shares of FURX exchange hands on a given day and today's volume is recorded at 34659.
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