Astellas buys Japan, other rights to new IBS drug

TOKYO, Nov 10 (Reuters) - Astellas Pharma (4503.T), Japan's No.2 drugmaker, said on Tuesday it will buy the rights to develop and sell U.S. firm Ironwood Pharmaceuticals' drug for irritable bowel syndrome in Japan and other parts of Asia.

Astellas will pay $75 million upfront to develop linaclotide, now in Phase III trials in the United States to treat irritable bowel syndrome with constipation and chronic constipation.

It has secured the development and marketing rights for Japan, Indonesia, South Korea, the Philippines, Taiwan and Thailand, it said in a release.

Irritable bowel syndrome affects roughly 12 million people in Japan, Astellas said. (Reporting by Mayumi Negishi)