NEW YORK, June 13 /PRNewswire-FirstCall/ -- Pfizer Inc said today that
it has completed the acquisition of worldwide rights to the new drug
candidate fesoterodine from Schwarz Pharma AG following the expiration of
the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act
of 1976.
Pfizer and Schwarz Pharma entered into a global license agreement in
April for Pfizer to acquire exclusive worldwide rights to fesoterodine, a
new drug candidate for treatment for overactive bladder. Earlier this year,
Schwarz Pharma submitted new drug applications for fesoterodine with both
the U.S. Food and Drug Administration and the European Medicines Evaluation
Agency (EMEA).
Overactive bladder is a debilitating condition that affects up to 100
million people around the world. Fesoterodine is expected to provide
additional choice for managing the symptoms of overactive bladder.
In conjunction with Hart-Scott-Rodino clearance, Pfizer will make an
initial payment of $100 million to Schwarz Pharma.
SOURCE Pfizer Inc
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CONTACT:
Paul Fitzhenry of Pfizer Inc, +1-212-733-4637
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