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AstraZeneca sells U.S. gout drug rights to Ironwood for up to $265 million

A sign is seen at an AstraZeneca site in Macclesfield, central England May 19, 2014.

British drugmaker AstraZeneca Plc (AZN.L) said on Tuesday Ironwood Pharmaceuticals Inc (IRWD.O) would buy the U.S. marketing rights for its newly approved gout drug for up to $265 million.

The deal gives Ironwood the rights to sell the drug, Zurampic, or lesinurad, which was approved in...