Furiex Reports Third Quarter EPS of $(2.14)

Furiex Pharmaceuticals, Inc. FURX today reported its financial and operating results for the quarter ended September 30, 2010. Furiex was spun off from Pharmaceutical Product Development, Inc. (PPD) as a separate public company effective June 14, 2010. As a result, the Furiex financial information prior to that date was derived from PPD's discovery sciences segment and does not reflect the consolidated results of operations or cash flows of the company had it been a separate, stand-alone entity. Furiex recorded third quarter revenues of $0.3 million, compared to $0.4 million for the same period in the prior year. Revenue included royalties related to Priligy™ sales in various countries outside the United States and Nesina® sales in Japan. Operating loss from continuing operations was $21.2 million, compared to $0.2 million for the third quarter of 2009. The increase in loss from continuing operations was predominantly a result of the increase in R&D expense of $19.6 million. Earnings (loss) per share for the third quarter of 2010 was $(2.14), compared to $(0.58) for the third quarter of 2009. Third quarter 2009 earnings (loss) per share included PPD's loss from discontinued operations, net of income taxes, of $(0.56) per share.