Schwarz inks global pact with Pfizer
Shares of Germany's Schwarz Pharma surged after the company announced a deal to license its drug for overactive bladder to Pfizer and settle a lawsuit with the drug giant. Schwarz gains a $100 million up front payment and up to $110 million more in milestones in exchange for the global rights to fesoterodine, which is awaiting approval in the U.S. and Europe. Schwarz will also gain royalty rights to Detrol for urinary incontinence. Pfizer had sued Schwarz for patent infringement involving fesoterodine.
- here's the report from MarketWatch on the new pact
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