June 16, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — PPD, Inc. (NASDAQ: PPDI), a contract research organization, said that it has completed the spinoff of Furiex Pharmaceuticals, Inc. (NASDAQ: FURX), a drug development collaboration company focused on partnered drug programs.

On June 14 shareholders of record of PPD as of June 1 received a pro rata dividend of one share of Furiex common stock for every 12 shares of PPD common stock they held. Fractional shares were paid in cash.

PPD and Furiex now operate as two independent companies. PPD has no ownership of Furiex.

North Carolina-based Furiex Pharmaceuticals is a drug development collaboration company using innovative clinical development design to accelerate and increase value of partnered drug programs.

North Carolina-based PPD is a contract research organization providing drug discovery, development and lifecycle management services. The firm’s clients and partners include pharmaceutical, biotechnology, medical device, academic and government organizations.

PPD has offices in 41 countries and more than 10,500 employees worldwide.

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