Furiex irritable bowel syndrome drug succeeds in large trials

Shares of Furiex Pharmaceuticals Inc more than doubled in value after the company said its experimental drug significantly alleviated diarrhea and abdominal pain associated with irritable bowel syndrome in two large late-stage trials. Furiex said it would apply by mid-year for U.S. approval of the drug, eluxadoline, to treat diarrhea-predominant irritable bowel syndrome (IBS-d), a debilitating bowel disorder that affects about 28 million people in the United States and major European markets.