logo
Plus   Neg
Share
Email

AstraZeneca Gets Full Responsibility For Commercialising Linzess In China

AstraZeneca (AZN.L,AZN) said that it has amended its collaboration agreement with Ironwood Pharmaceuticals. The amended agreement gives AstraZeneca sole responsibility for developing, manufacturing and commercialising Linzess in China mainland, China Hong Kong and China Macau.

As per the amended agreement, Ironwood will no longer be involved in the research and development or the commercialisation of Linzess. It will also transfer manufacturing responsibility to AstraZeneca.

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

Ironwood will also be eligible for royalties beginning in the mid-single-digit percent, based on the annual net sales of Linzess in China mainland, China Hong Kong and China Macau where Ironwood will no longer jointly fund the development and commercialisation of Linzess or share in the profit from sales.

Linzess is a first-in-class new treatment for patients with irritable bowel syndrome with constipation or IBS-C. IBS-C is characterised by symptoms of abdominal pain and constipation, is a chronic and prevalent functional gastrointestinal disorder in China and there are currently few treatment options for this condition.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
United Airlines has announced that tickets for the Bombardier CRJ-550 will be available for purchase starting Saturday, October 12 for travel beginning Sunday, October 27. United Airlines also revealed the first 15 routes for the new Bombardier CRJ-550 aircraft. Initially, the CRJ-550 will fly out... Coffee retail giant Starbucks (SBUX) announced its plan to expand its profit-sharing Community Store program in Korea. The company plans to open the first of several locations in early 2020. The country is one of three Starbucks markets with Community Stores, according to a press release. Starbucks... Toyota Motor Corp. has unveiled the second-generation of its hydrogen fuel-cell car, the Mirai, saying it expects the new sedan will help it to realize the goal of a hydrogen energy society. The new Mirai will seat one more than the current model and also features a fully-redesigned fuel cell system that offers up to a 30 percent increase in driving range.
Follow RTT
>