Pfizer Acquires Rights to OB Drug

Pfizer has entered into an agreement with Schwarz Pharma AG under which Pfizer will acquire exclusive worldwide rights to fesoterodine, a new drug candidate for treatment for overactive bladder. Earlier this year, Schwarz submitted NDAs for fesoterodine with both the FDA and the EMEA.

Under the terms of the agreement, Pfizer will make an initial payment of $100 million to Schwarz Pharma plus additional payments based on certain milestones. Schwarz Pharma will also be entitled to royalties on sales of both fesoterodine and Pfizer’s Detrol product line for treatment of overactive bladder. The agreement settles all existing and potential fesoterodine patent litigation between the parties worldwide.