JP Morgan Defends Ironwood Pharma

JP Morgan highlights Views On Plecanatide:

• there appears to a slight efficacy advantage for Linzess, but full plecanatide data need to seen (i.e., the spectrum of secondary endpoints/ onset of action);
• although rates of diarrhea do appear incrementally better for plecanatide, this AE has not been a major issue in the real world for Linzess; and
• we believe the constipation market is large enough to support multiple products, where Linzess has an important first-to-market advantage.