Schwarz and Pfizer agree over Fesoterodine

Schwarz Pharma AG has agreed to transfer all its rights for Fesoterodine, the anti-muscarinic NCE, to Pfizer.

The exclusive worldwide licence will also see the settlement of disputes between the two companies over the product’s patent.

In exchange for handing over the rights, Schwarz will receive $100 million up front. A further $110 million worth of additional payments will be made, depending on variables such as the product gaining approval in Europe and the US.

Patrick Schwarz-Schuette, chief executive of Schwarz Pharma AG, said: “Fesoterodine, which has recently been filed with the US and European regulatory authorities, provides an exciting new treatment option offering significant benefits to patients suffering from overactive bladder.

“Pfizer’s experience and commercial resources ensures that Fesoterodine will become broadly available to physicians and their patients. Strategically, we will invest the funds from this transaction to further strengthen our pipeline.”

When Fesoterodine is eventually launched by Pfizer ? it has been submitted for approval in Europe and the US – Schwarz will also receive royalties on its sales combined with Pfizer’s existing Detrol (tolterodine).

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