Pfizer acquires Schwarz drug for $210 million

Pfizer will make a $100 million upfront payment and additional payments based on certain milestones reported to be worth a potential $110 million. Schwarz will also be entitled to royalties on sales of both fesoterodine and Pfizer’s own overactive bladder treatment, Detrol.

Pfizer had been in the process of suing Schwarz over fesoterodine, alleging that the drug infringed on certain patents that cover Detrol. However the deal settles all patent litigation between the parties worldwide.

Earlier this year, Schwarz submitted new drug applications for fesoterodine with both the FDA and the European Medicines Evaluation Agency (EMEA).

“Overactive bladder is a debilitating condition that affects up to 100 million people around the world,” said Karen Katen, vice chairman of Pfizer and president, Pfizer Human Health. “We are excited about the potential of this new medicine to offer patients and their doctors a new alternative to existing therapies for managing the symptoms of overactive bladder.”