Almirall/Ironwood's IBS drug linaclotide shows positive Ph III results

15 September 2010

Spain’s largest pharmaceutical company Almirall (ALM:MC) and USA-based partner Ironwood Pharmaceuticals (Nasdaq: IRWD) have announced positive top-line results from a Phase III clinical trial assessing the efficacy and safety of a once-daily dosing of linaclotide 266 mcg in patients with irritable bowel syndrome (IBS) with constipation.

Ironwood’s shares leapt 21% to $11.75 a share in pre-market trades on Tuesday while Almirall rose a more modest 5% to 8.05 euros on the news.

Almirall licensed European rights to the drug last year, in a potentially $150 million deal, to which it added an equity investment in Ironwood of some $15 million in November. Rights to the drug in Japan, Indonesia, Korea, the Philippines, Taiwan and Thailand have been sold to Japanese drug major Astellas for $75 million (The Pharma Letters May 5 and November 10).

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