Pfizer, Schering AG in Licensing Agreement for Compounds

Pfizer has signed a deal to license a set of compounds from German-based drugmaker Schering AG that could be developed into products to prevent heart attacks and strokes.

Under the agreement, Pfizer will have exclusive development and marketing rights to a portfolio of preclinical oral antiplatelet compounds developed by Schering's U.S. affiliate Berlex. The financial terms of the deal were not disclosed. Schering said it would receive upfront fees, milestone payments and royalties from Pfizer.

Pfizer said the antiplatelet agents -- ADP receptor antagonists -- can be used to chronically inhibit arterial thrombosis, which is the formation of blood clots in the arteries. In turn, this treatment can prevent strokes and heart attacks in patients at high risk for cardiovascular events, including patients with previous stroke, myocardial infarction or established peripheral arterial disease.

Schering said it agreed to license the compounds to Pfizer because cardiovascular diseases are no longer part of its core business. Pfizer said the acquisition of the exclusive, worldwide rights to the oral ADP receptor antagonist program provides it with an opportunity to strengthen its position as a leader in providing innovative drugs to treat cardiovascular disease. Pfizer also noted it has a presence in the thrombosis market with its low molecular weight heparin product, Fragmin (dalteparin sodium).