Ironwood Pharmaceuticals, Inc.
ironwoodpharma.comWhat Do They Do?
Develops and commercializes LINZESS, a prescription medicine for people with constipation-related conditions, and develops apraglutide for people with short bowel syndrome.
10-K for FY2025, filed Feb 26, 2026
How Do They Make Money?
AbbVie shares U.S. LINZESS profits with Ironwood based on U.S. sales; outside the U.S., pharmaceutical partners pay royalties as they sell linaclotide. Agreements may also provide license fees, milestone payments, and payments for research or other services.
10-K for FY2025, filed Feb 26, 2026In September 2007, we entered into a collaboration agreement with AbbVie to develop and commercialize linaclotide for the treatment of…View ↗
In April 2009, we entered into a license agreement with Almirall, S.A., or Almirall, or the European License Agreement, to develop and…View ↗
In November 2009, we entered into a license agreement with Astellas to develop and commercialize linaclotide for the treatment of IBS-C…View ↗
In October 2012, we entered into a collaboration agreement with AstraZeneca to co-develop and co-commercialize linaclotide in China…View ↗
The Company’s revenues are generated primarily through collaborative arrangements and license agreements related to the research and…View ↗
The Company’s collaborative arrangements revenues generated from sales of LINZESS in the U.S. are considered akin to sales-based royalties.…View ↗
-
10-K for FY2025, filed Feb 26, 2026
FY2025 revenue by product or service ↗
$296.2M
-
10-K for FY2025, filed Feb 26, 2026
$296.2M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Collaborative arrangements revenue
Mix
10-K for FY2025, filed Feb 26, 2026 |
100%
FY2022: 100%
|
Collaborative arrangements revenue, FY2025
$296.2M Sources
|
Mix |
|
Collaborative arrangement, other agreements
|
<0.1%
FY2022: 0.4%
|
Collaborative arrangement, other agreements, FY2025
$87K Sources
|
Who Are Their Customers?
AbbVie is Ironwood's U.S. partner for LINZESS, with the companies sharing U.S. commercialization; AbbVie, Astellas and AstraZeneca commercialize linaclotide in their territories. Ironwood also licensed apraglutide rights in Japan to Asahi Kasei Pharma.
10-K for FY2025, filed Feb 26, 2026We have strategic partnerships with leading pharmaceutical companies to support the development and commercialization of linaclotide…View ↗
In September 2007, we entered into a collaboration agreement with AbbVie to develop and commercialize linaclotide for the treatment of…View ↗
In March 2022, VectivBio entered into a development and commercialization agreement with Asahi Kasei Pharma Corporation, or AKP, in which…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 8 cents of every revenue dollar as net income in FY2025 and turned 43 cents into free cash flow.
10-K for FY2025, filed Feb 26, 2026
$98.5MView ↗
10-K for FY2025, filed Feb 26, 2026
$24MView ↗
10-K for FY2025, filed Feb 26, 2026
$127MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 6, 2026
$51.3MView ↗
- ▲ +117%
- vs $23.6M in Q2 FY2025
-
Aug 6, 2026
Raised full-year 2026 financial guidance
Raised LINZESS U.S. net sales and total revenue outlooks for 2026 following second-quarter results.
Sources
8-K, filed Aug 6, 2026
– Raises full-year 2026 LINZESS® (linaclotide) U.S. net sales guidance to $1.15 - $1.20 billion, representing greater than 30% increase…View ↗
-
May 13, 2026
Chief financial officer resigned; interim CFO appointed
Gregory Martini resigned as CFO, and Ronald Silver became interim CFO.
Sources
8-K, filed May 13, 2026
On May 8, 2026, Gregory Martini notified Ironwood Pharmaceuticals, Inc. (the “Company”) that he is resigning from his position as Senior…View ↗
Shrinking. Revenue fell 28% in 4 years, from $413.8M in FY2021 to $296.2M in FY2025, about 8% a year.
Broader LINZESS use
The older report described LINZESS for adults with IBS-C or chronic idiopathic constipation; the latest report also describes use in children with functional constipation and IBS-C.
10-K for FY2022, filed Feb 16, 2023 10-K for FY2025, filed Feb 26, 2026LINZESS® (linaclotide), our commercial product, is the first product approved by the United States Food and Drug Administration, or U.S.…View ↗
LINZESS® (linaclotide), our commercial product, is the first product approved by the United States Food and Drug Administration, or U.S.…View ↗
Visceral-pain program
The older report described a GC-C agonist in development for interstitial cystitis/bladder pain syndrome and endometriosis; the latest report says development for interstitial cystitis/bladder pain syndrome ceased.
10-K for FY2022, filed Feb 16, 2023 10-K for FY2025, filed Feb 26, 2026We are advancing IW-3300, a GC-C agonist, for the potential treatment of visceral pain conditions, including IC/BPS and endometriosis.…View ↗
We were developing IW-3300, a GC-C agonist, for the potential treatment of visceral pain conditions, such as interstitial cystitis and…View ↗
Who Do They Compete With?
Competes with Takeda Pharmaceuticals, Bausch, Ardelyx, Vibrant, Shire, Mylan, Sucampo, Zealand Pharma, and Hanmi Pharmaceutical
10-K for FY2025, filed Feb 26, 2026Until the launch of LINZESS, the only available branded prescription therapy for IBS-C and CIC in the U.S. was AMITIZA® (lubiprostone)…View ↗
Loading...
