Ironwood Pharmaceuticals Inc. will partner with AstraZeneca PLC on the development and commercialization of linaclotide in China, providing the specialty pharma with an experienced commercial partner as it looks to bring its first drug into the enormous Chinese market. Under the deal announced Oct. 23, AstraZeneca paid Ironwood $25 million upfront and the two companies agreed to share the profits and losses from the sale of linaclotide in China.
AstraZeneca will carry 55% of the profits and losses until a certain specified milestone is achieved. Then, the arrangement will...