PPD, Inc. and Furiex Pharmaceuticals, Inc. Announce Completion of Spin-Off
Published: Jun 15, 2010
WILMINGTON, N.C. & MORRISVILLE, N.C.--(BUSINESS WIRE)--PPD, Inc. (Nasdaq: PPDI) and Furiex Pharmaceuticals, Inc. (Nasdaq: FURX) announced today the successful completion of the spin-off of Furiex. As previously announced, PPD received a private letter ruling from the Internal Revenue Service that the dividend of common stock of Furiex to PPD shareholders qualifies as a tax-free distribution for U.S. income tax purposes.