Ironwood, AZN in linaclotide deal for China

Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) partnered with AstraZeneca plc (LSE:AZN; NYSE:AZN) to co-develop and co-commercialize the biotech's linaclotide in China. In May, Ironwood submitted an application in China to begin a Phase III trial of linaclotide to treat irritable bowel syndrome with constipation (IBS-C). Ironwood will receive $25 million up front and is eligible for up to $125 million in sales milestones. The partners will share profits and losses, with AstraZeneca carrying 55% of each until a certain undisclosed milestone is achieved, after which the partners will split profits and losses 50/50. ...