Ferring Pharmaceuticals has entered into a licensing agreement with Albireo, which was spun-out from AstraZeneca in 2008, for elobixibat, which is ready to enter Phase III development for chronic idiopathic constipation and Phase IIb development for irritable bowel syndrome with constipation. Ferring gains rights to market the drug globally, with the exception of certain Asian markets where it has been licensed to Ajinomoto Pharmaceuticals. The deal will enhance Ferring’s gastroenterology portfolio, which is led by Pentasa® (mesalazine) for inflammatory bowel diseases.