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Drug Names(s): SPM 907, Fesoterodine
Description: Toviaz is a once-daily muscarinic receptor antagonist. Anti-muscarinic agents operate on muscarinic acetylcholine receptors, inhibiting the muscarinic actions of acetylcholine at multiple sites and thus reducing contractions of the bladder. Acetylcholine is a neurotransmitter in the central and peripheral nervous systems.
Deal Structure: In April 2006, Schwarz Pharma AG and Pfizer agreed on an exclusive world-wide license to Pfizer for Schwarz's Toviaz. Schwarz Pharma and Pfizer also settled all existing and potential patent disputes and claims between both companies surrounding Fesoterodine.
Under the terms of the agreement, Schwarz Pharma transfers all of its rights in Toviaz to Pfizer on an exclusive world-wide basis. In return Schwarz Pharma receives an upfront payment of US$ 100 million and additional payments up to US$ 110 million contingent on certain milestones.The deal closed in June 2006.
In July 2007, UCB acquired Schwarz Pharma. UCB is entitled to receive royalties on the combined sales of Toviaz and Pfizer's tolterodine product franchise.
Partners: UCB SA
Pink Sheet Financing In Brief
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