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BUZZ-Ironwood Pharma plunges after Phase Five report

** Ironwood Pharmaceuticals (NasdaqGS: IRWD - news) down 8.7 pct to $9.90, on pace for biggest daily pct drop since June 9; volume nearly 4x 10-day avg

** Phase Five Research, which focuses on small-to-medium cap healthcare companies, said it investigated the company's constipation drug Linzess and "exposed hideous issues"

** Phase Five said drug is primary suspect in at least seven deaths, 85 hospitalizations and 16 disabilities since its launch in 2013

** Research firm also said the drug is "causing previously unknown, unreported and unlabeled severe systemic adverse events, including rapid weight gain, renal failure, blood clots and strokes" and that it's findings were submitted to FDA's Division of Gastroenterology and Inborn Errors Products

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** Phase Five said probable removal of Linzess from the market or substantial decrease in sales from exposed safety issues will "spell disaster" for Ironwood as Linzess is the company's only drug

** Earlier Tuesday, British drugmaker AstraZeneca Plc (NYSE: AZN - news) said Ironwood would buy the U.S (Other OTC: UBGXF - news) . marketing rights for its newly approved gout drug for up to $265 million

** Of 12 analysts covering the stock, seven maintain a "hold" or lower rating, according to Thomson Reuters (Dusseldorf: TOC.DU - news) data; median price target has risen to $12.50 from $11.50 median 30-days ago