AstraZeneca takes control of Linzess collaboration with Ironwood
By Duncan Ferris
Date: Wednesday 18 Sep 2019
(Sharecast News) - AstraZeneca confirmed on Wednesday that it will take on responsibility for the development, manufacture and commercialisation of Linzess in China, Hong Kong and Macau after amending an agreement with Ironwood Pharmaceuticals.
Linzess is a first-in-class new treatment for patients suffering from irritable bowel syndrome with constipation, and is expected to launch in China this year after being approved by the National Medical Products Administration in January.
In exchange for taking control, the FTSE 100 pharmaceuticals giant will pay Ironwood $35m over the next five years, as well as up to $90m in milestone payments depending on the achievement of certain sales targets after the drug's expected launch later this year.
Ironwood will also be eligible for royalties beginning in the mid-single-digit percent based on the annual net sales of the drug in the three territories, but will no longer receive a standard share in the profit from sales.
Leon Wang, president of AstraZeneca China, said: "Linzess is an important new treatment for this type of IBS in China, where there is a specific high unmet medical need. Today's amended agreement allows us to bring this innovative medicine to patients more efficiently and will contribute further to our strong growth in this significant market."
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