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Ironwood long-term outlook positive, says Ladenburg

After Ironwood (IRWD) and AstraZeneca (AZN) announced a partnership deal for IBS treatment linaclotide in China, Ladneburg doesn't expect the drug to be approved in China for several years, and the firm doesn't think the $25M that Ironwood will receive upfront significantly improves its near-term outlook. However, the firm is upbeat on the drug's prospects and believes that the Chinese market could become signifcant for the company in the long-term. It maintains a Buy rating on Ironwood.