13th Jun 2006 12:01
Pfizer Completes Acquisition of Worldwide Rights to New Drug Candidate Fesoterodine From Schwarz Pharma AG NEW YORK, June 13 -- 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 06/13/2006 /CONTACT: Paul Fitzhenry of Pfizer Inc, +1-212-733-4637/ /Company News On-Call: Pfizer's press releases are available through PR Newswire's Company News On-Call service on PRN's Web Site. Visit http://www.prnewswire.com/comp/688250.html / /Photo: A free corporate logo to accompany this story is available immediately via Wieck Photo Database to any media with telephoto receiver or electronic darkroom, PC or Macintosh, that can accept overhead transmissions. To retrieve a logo, please call 972-392-0888./ /Company News On-Call: http://www.prnewswire.com/comp/688250.html / /Web site: http://www.pfizer.com / (PFE) ENDPFIZER INCRelated Shares:
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