StockMarketWire.com - AstraZeneca has amended its collaboration agreement with Ironwood Pharmaceuticals in China mainland, China Hong Kong, and China Macau for Linzess.

This new agreement gives AstraZeneca full responsibility for developing, manufacturing, and commercialising Linzess in China.

Linzess is a first-in-class new treatment for patients with irritable bowel syndrome with constipation (IBS-C).

It is expected to be launched later this year, as Linzess was approved in China by the National Medical Products Administration in January 2019.

AstraZeneca will pay Ironwood three non-contingent payments, totalling $35m, between 2021 and 2024. In addition, Ironwood could receive up to $90m in milestone payments, contingent on the achievement of certain sales targets.





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