{"id":501441,"date":"2021-06-07T16:04:39","date_gmt":"2021-06-07T20:04:39","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ironwood-pharmaceuticals-announces-leadership-updates\/"},"modified":"2021-06-07T16:04:39","modified_gmt":"2021-06-07T20:04:39","slug":"ironwood-pharmaceuticals-announces-leadership-updates","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ironwood-pharmaceuticals-announces-leadership-updates\/","title":{"rendered":"Ironwood Pharmaceuticals Announces Leadership Updates"},"content":{"rendered":"

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Ironwood Pharmaceuticals Announces Leadership Updates<\/b><\/p>\n

\u2013 Thomas McCourt named permanent CEO and appointed to Ironwood Board of Directors \u2013<\/i><\/p>\n

\u2013 Gina Consylman to step down as SVP, CFO effective July 2, 2021 \u2013<\/i><\/p>\n

BOSTON–(BUSINESS WIRE<\/a>)–Ironwood Pharmaceuticals, Inc.<\/a> (NASDAQ: IRWD), a GI-focused healthcare company, today announced that the Board of Directors named Thomas McCourt, who has served as president and interim chief executive officer since March 12, 2021, as permanent chief executive officer. Mr. McCourt has also been appointed to serve on Ironwood\u2019s Board. With the appointment of Mr. McCourt, the Board is now comprised of 11 directors.\n<\/p>\n

\nIronwood also announced that Gina Consylman plans to step down as senior vice president and chief financial officer, effective July 2, 2021, in order to pursue another leadership opportunity at a rare disease biotechnology company. Ms. Consylman\u2019s resignation is not due to any disagreement with Ironwood on any matter relating to the Company\u2019s financial reporting. Ironwood plans to initiate a search for Ms. Consylman\u2019s permanent successor and intends to name an interim chief financial officer if a permanent successor has not yet been appointed by the date of Ms. Consylman\u2019s departure.\n<\/p>\n

\n\u201cFollowing a comprehensive search process, the Board unanimously determined that Tom is the ideal person to lead Ironwood forward,\u201d said Julie McHugh, chair of Ironwood\u2019s Board. \u201cTom has been an exceptional leader as Ironwood has continued to execute on its strategy. We are fortunate to have an executive with his experience, deep knowledge of the company, and commitment to our patients and people. I look forward to working with him \u2013 along with our entire senior leadership team \u2013 as we focus on creating value for our shareholders.\u201d\n<\/p>\n

\nMs. McHugh continued, \u201cOn behalf of the Board and everyone at Ironwood, I would also like to thank Gina for her outstanding leadership and significant contributions over the past seven years. She played an instrumental role in several highly strategic transactions, including our business separation in 2019 and launching the new GI-focused Ironwood as an independent company, and has helped the company to achieve its financial objectives. We appreciate Gina’s commitment to ensuring a seamless transition and we wish her all the best.\u201d\n<\/p>\n

\nMr. McCourt said, \u201cI am honored to be named permanent CEO and thank Julie and the Board for their guidance and support over the past several months. We have made steady progress on many of our key objectives, including the continued growth of LINZESS\u00ae (linaclotide) and building a strong financial position. I have great confidence in the exciting opportunities ahead for Ironwood and look forward to working with our exceptional team as we execute our strategy of maximizing LINZESS, building an innovative GI development portfolio and delivering sustained profits and generating cash.\u201d\n<\/p>\n

\nMr. McCourt added, \u201cI join Julie in expressing my thanks to Gina for her leadership and commitment to Ironwood. She built a strong and effective finance organization, and today, Ironwood is proud to have delivered two years of profitability, supported by a robust balance sheet and strong cash flows. She has been a trusted partner to me, and I know she will see continued success in her next role.\u201d\n<\/p>\n

\n\u201cIt has been a privilege to work at this incredible company since 2014,\u201d said Ms. Consylman. \u201cWhile decisions like this are never easy, I look forward to taking on new challenges and expanding my skill set in the next phase of my career. I leave with confidence knowing that we have a talented and dedicated finance team and a solid foundation in place to continue building on our positive momentum and delivering enhanced value for patients and shareholders. I plan to work closely with Tom and the leadership team to facilitate a smooth transition.\u201d\n<\/p>\n

About LINZESS (linaclotide)<\/b><\/p>\n

\nLINZESS\u00ae is the #1 prescribed brand in the U.S. for the treatment of adult patients with irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC), based on IQVIA data.\n<\/p>\n

\nLINZESS is a once-daily capsule that helps relieve the abdominal pain, constipation and overall abdominal symptoms of bloating, discomfort and pain associated with IBS-C, as well as the constipation, infrequent stools, hard stools, straining and incomplete evacuation associated with CIC. The recommended dose is 290 mcg for IBS-C patients and 145 mcg for CIC patients, with a 72-mcg dose approved for use in CIC depending on individual patient presentation or tolerability. LINZESS should be taken at least 30 minutes before the first meal of the day.\n<\/p>\n

\nLINZESS is contraindicated in pediatric patients less than 6 years of age. The safety and effectiveness of LINZESS in pediatric patients less than 18 years of age have not been established. In neonatal mice, linaclotide increased fluid secretion as a consequence of guanylate cyclase-C (GC-C) agonism resulting in mortality within the first 24 hours due to dehydration. Due to increased intestinal expression of GC-C, patients less than 6 years of age may be more likely than patients 6 years of age and older to develop severe diarrhea and its potentially serious consequences. In adults with IBS-C or CIC treated with LINZESS, the most commonly reported adverse event was diarrhea.\n<\/p>\n

\nLINZESS is not a laxative; it is the first medicine approved by the FDA in a class called GC-C agonists. LINZESS contains a peptide called linaclotide that activates the GC-C receptor in the intestine. Activation of GC-C is thought to result in increased intestinal fluid secretion and accelerated transit and a decrease in the activity of pain-sensing nerves in the intestine. The clinical relevance of the effect on pain fibers, which is based on nonclinical studies, has not been established.\n<\/p>\n

\nIn the United States, Ironwood and AbbVie co-develop and co-commercialize LINZESS for the treatment of adults with IBS-C or CIC. In Europe, AbbVie markets linaclotide under the brand name CONSTELLA\u00ae for the treatment of adults with moderate to severe IBS-C. In Japan, Ironwood’s partner Astellas markets linaclotide under the brand name LINZESS for the treatment of adults with IBS-C or CIC. Ironwood also has partnered with AstraZeneca for development and commercialization of LINZESS in China, and with AbbVie for development and commercialization of linaclotide in all other territories worldwide.\n<\/p>\n

LINZESS Important Safety Information<\/b><\/p>\n

INDICATIONS AND USAGE<\/b><\/p>\n

\nLINZESS (linaclotide) is indicated in adults for the treatment of both irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC).\n<\/p>\n

IMPORTANT SAFETY INFORMATION<\/b><\/p>\n\n\n
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WARNING: RISK OF SERIOUS DEHYDRATION IN PEDIATRIC PATIENTS
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LINZESS is contraindicated in patients less than 6 years of age. In nonclinical studies in neonatal mice, administration of a single, clinically relevant adult oral dose of linaclotide caused deaths due to dehydration. Use of LINZESS should be avoided in patients 6 years to less than 18 years of age. The safety and effectiveness of LINZESS have not been established in patients less than 18 years of age.<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Contraindications<\/b><\/p>\n