2nd Feb 2005 07:00
Pfizer Signs Agreement With Schering AG to License Compounds for Potential Prevention of Thrombosis NEW YORK, Feb. 2 -- Pfizer Inc (NYSE: PFE) and Schering AG (FSE: SCH, NYSE: SHR) announced today that they have signed a license agreement granting Pfizer a worldwide license to Schering AG's ADP receptor antagonist program. Under the agreement, Pfizer will have exclusive rights to develop and market oral anti-platelet compounds developed by Schering AG's U.S. affiliate Berlex Inc. Schering will receive an upfront fee, milestone payments and royalties on sales of any compounds successfully commercialized under the agreement. Specific financial terms were not announced. ADP receptor antagonists are anti-platelet agents that can be used to chronically inhibit arterial thrombosis (formation of blood clots in the arteries) and prevent stroke and myocardial infarctions in patients at high risk for cardiovascular events -- that can include patients with previous stroke, myocardial infarction or established peripheral arterial disease. The acquisition of exclusive, worldwide rights to the oral ADP receptor antagonist program provides Pfizer an opportunity to strengthen its position as a leader in the discovery, development and marketing of innovative medicines to treat cardiovascular disease. In addition to its leading medicines such as Lipitor and Norvasc, Pfizer currently has a presence in the thrombosis market with its low-molecular weight heparin product, Fragmin (dalteparin). Pfizer Inc discovers, develops, manufactures and markets leading prescription medicines, for humans and animals, and many of the world's best-known consumer brands. Schering AG is a research-based pharmaceutical company. Its activities are focused on four business areas: Gynecology & Andrology, Oncology, Diagnostic Imaging as well as Specialized Therapeutics for disabling diseases. As a global player with innovative products Schering AG aims for leading positions in specialized markets worldwide. With in-house R&D and supported by an excellent global network of external partners, Schering AG is securing a promising product pipeline. Using new ideas, Schering AG aims to make a recognized contribution to medical progress and strives to improve the quality of life: making medicine work DISCLOSURE NOTICE: The information contained in this document is as of February 2, 2005. Pfizer assumes no obligation to update any forward-looking statements contained in this document as a result of new information or future events or developments. This release contains forward-looking information about a research and development program and the potential efficacy of product candidates that might result from the program that involve substantial risks and uncertainties. Such risks and uncertainties include, among other things, the uncertainty inherent in research and development activities, decisions by regulatory authorities regarding whether and when to approve any drug applications that may result from the program as well as their decisions regarding labeling and other matters that could affect the commercial potential of product candidates that may result from the program; and competitive developments. A further list and description of risks and uncertainties can be found in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2003, and in its reports on Form 10-Q and Form 8-K. SOURCE Pfizer Inc 02/02/2005 /CONTACT: Paul Fitzhenry of Pfizer, +1-212-733-4637; or Oliver Renner of Schering AG, +49468-12431/ /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 SHR) ENDRelated Shares:
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