April 14, 2006
Pfizer acquires rights to Schwarz Pharma bladder drug
Pfizer said yesterday it has entered a deal to acquire worldwide exclusive rights to fesoterodine, an overactive bladder treatment being developed by German drug maker Schwarz Pharma, for $100 million, plus additional milestone payments. Under the terms of the deal, Schwarz Pharma will also be entitled to royalties on sales of both fesoterodine and Pfizer’s Detrol product line for treatment of overactive bladder. Schwarz submitted new drug applications with the FDA and EU for fesoterodine earlier this year. The agreement also settles all existing and potential fesoterodine patent litigation between the two companies and is subject to clearance by the US Federal Trade Commission, Pfizer said.