Business

Mass. mover

Ironwood, AstraZeneca pair up

Ironwood struck a deal to work with AstraZeneca.

David L. Ryan/Globe Staff

Ironwood struck a deal to work with AstraZeneca.

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British drug giant AstraZeneca PLC and Ironwood Pharmaceuticals Inc., a drug development company in Cambridge, are teaming up to develop and then market Ironwood’s new drug for irritable bowel syndrome in China. The drug, called linaclotide, was approved in August by the FDA and is the first in a new class of medicines. The companies will jointly oversee development and marketing in China. The deal calls for Ironwood to receive an upfront payment of $25 million.

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