Ironwood Pharmaceuticals: Independent for the Long Haul

Ironwood Pharmaceuticals has yet to get a drug approved, yet it shares with a handful of R&D companies an increasingly implausible aspiration to become the next successful, independent, pharmaceutical growth story. Thanks to a corporate culture that values strategic thinking and a financial structure that puts change-of-control decisions in the hands of long-term shareholders, it may be uniquely positioned to achieve that goal.