(Wilmington, N.C.) PPD, Inc. (Nasdaq: PPDI) announced today its board of directors has set the shareholder of record and distribution dates in connection with the spin-off of its wholly-owned subsidiary, Furiex Pharmaceuticals, Inc. Shareholders of record of PPD on June 1, 2010, will receive on June 14, 2010, a pro-rata dividend of one share of Furiex Pharmaceuticals common stock for every 12 shares of PPD common stock. Any fractional shares will be paid in cash. PPD common stock will continue to trade on Nasdaq under the ticker symbol “PPDI.” Shares of Furiex Pharmaceuticals will be listed on Nasdaq under the ticker symbol “FURX.” It is anticipated that these shares will begin trading “when issued” on Nasdaq on or prior to the record date, with any trades settling within three days after the distribution date. (more…)