China : ASTRAZENECA partners with IRONWOOD on $150 MILLION CHINA drug deal

 [TendersInfo (India)] Ironwood Pharmaceuticals has secured $25 million and commitments of up to $125 million more from AstraZeneca, after signing a partnership deal to push linaclotide through a late-stage study in China and on into that country's fast-growing drug market. As per the deal, both the companies will jointly work on the research that needs to be done in China to win an approval for irritable bowel syndrome, with the biotech company relentlessly hanging on to a 50% share of the profits in China. Mark Mallon, regional VP for Asia Pacific and president, AstraZeneca China said, China is one of the fastest growing prescription medicines markets in the world and linaclotide represents a valuable opportunity to meet the needs of local patients by providing an innovative new treatment option. We are pleased to be partnering with Ironwood for linaclotide in China, which capitalizes on our leadership in the gastrointestinal sector in the emerging markets, said Mark Mallon, regional VP for Asia Pacific and president, AstraZeneca China.