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Home Industry News Pfizer buys rights to Schwarz Pharma OAB drug

Pfizer buys rights to Schwarz Pharma OAB drug

13th April 2006

Pfizer and Schwarz Pharma have entered into a worldwide collaboration agreement regarding the latter’s overactive bladder (OAB) drug, Fesoterodine.

Under the terms of the deal, Pfizer will pay $100 million to Schwarz Pharma for the worldwide rights to the OAB treatment, phase III trial data of which was presented last week.

Further payments and terms could see Schwarz Pharma receiving as much as $110 million in milestone payments as well as royalties from Fesoterodine and the Pfizer product Detrol, a urinary incontinence product.

“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 OAB,” said Patrick Schwarz-Schuetee, chief executive officer of Schwarz Pharma.

“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.”

Mr Schwarz-Schuetee was referring to a number of treatments in the late stages of development, most notably a Parkinson’s patch, which was released in Europe last month.

track© Adfero Ltd

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