Pfizer acquires rights to drug candidate fesoterodine for overactive bladder

By E. Janene Geiss

Philadelphia, April 13 - Pfizer Inc. said Thursday that it has entered into an agreement with Schwarz Pharma AG to acquire exclusive worldwide rights to fesoterodine, a new drug candidate for treatment for overactive bladder.

Earlier this year, Schwarz submitted new drug applications for fesoterodine with both the Food and Drug Administration and the European Medicines Evaluation Agency, according to a company news release.

"Overactive bladder is a debilitating condition that affects up to 100 million people around the world," Karen Katen, vice chairman of Pfizer and president of Pfizer Human Health, said in the release.

Under terms of the agreement, Pfizer said it will make an initial payment of $100 million to Schwarz Pharma, plus additional payments based on certain milestones.

Schwarz Pharma also will be entitled to royalties on sales of both fesoterodine and Pfizer's Detrol product line for treatment of overactive bladder, officials said.

The agreement settles all existing and potential fesoterodine patent litigation between the parties worldwide. The agreement is subject to clearance by U.S. Federal Trade Commission.

Pfizer is a New York-based pharmaceutical and health care company.

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